For those looking to advance from individual contributor roles to top leadership careers, a master’s degree may prove to be the advancement opportunity you need, allowing you to grow your career and achieve long-term success.
There are a variety of master’s degrees designed for aspiring leaders, so which one should you choose to move your career forward? Two options are the Master of Business Administration (MBA) and the online Master of Healthcare Administration (MHA), which offer administration-focused expertise and operational leadership ability.
With either degree, aspiring leaders can enhance their:
- Career readiness
- Leadership and management skills
- Strategic thinking ability
- Function-specific knowledge
Despite their similarities, these degrees serve distinct purposes and prepare graduates for unique leadership careers: MBA degrees for cross-functional leadership across industries and MHA degrees for high-impact leadership roles specifically in the healthcare industry.
MBA and MHA overview
What is an MBA?
MBAs are a globally recognized credential, providing ambitious professionals with broadly applicable expertise in the realm of business management, administration and leadership. The expertise gained in an MBA can be applied to high-level leadership roles across any industry.
Typically, this means that students will explore advanced topics in core business areas, such as:
- Finance
- Management
- Team leadership
- Marketing
- Accounting
- Business ethics
In addition, MBAs enhance core strategic and critical thinking skills, allowing graduates to solve problems cross-functionally in a way that benefits their whole organization. Some MBA programs also offer concentrations that allow students to gain industry-specific knowledge if they need it.
MBA programs are generally best for professionals with a few years of professional experience; the ideal candidate is a mid- to senior-level professional looking to advance to management or leadership positions.
What is an MHA?
Similar to an MBA, an MHA program offers students a graduate-level education in management, leadership, strategic thinking and administrative best practices. However, an MHA is highly specialized to the applications of these skills in the healthcare sector. Future healthcare leaders will benefit from expertise in:
- Healthcare law, policy, regulation and compliance
- Healthcare finance and economics
- Operations and innovation in the healthcare setting
MHA graduates lead hospitals, health systems and care delivery networks. This complex industry environment requires specialized knowledge and a foundation in healthcare ethics, as the decisions of healthcare leaders can directly impact patient outcomes, policy and the future of healthcare.
Master of Healthcare Administration programs typically require some work experience in healthcare as well, due to the complex nature of the topics at hand. A few years of work experience in the healthcare sector demonstrates that the student has foundational knowledge and is ready to gain advanced expertise and leadership acumen.
MHA curriculum
MHA programs offer an advanced, healthcare-focused curriculum that provides students with problem-solving capabilities, administration expertise, strategic thinking skills and leadership ability. The curriculum of a master’s in healthcare administration will include practical knowledge relevant to healthcare leadership, such as:
- Healthcare law, policy and regulations
- Healthcare ethics
- Management and leadership
- Communication
- Finance and accounting in healthcare
- Organizational strategy
- Epidemiology, public health and biostatistics
Many MHA programs will also offer a capstone or thesis opportunity, allowing students to create a project or paper that demonstrates their real-world analysis and strategic planning ability.
MBA vs. master’s in healthcare administration
While MHAs and MBAs both cover foundational business and administration topics, the career and learning outcomes are distinct. MHA programs prepare professionals for operational and leadership roles in healthcare organizations, imparting leadership, operational and strategic expertise. MBAs, on the other hand, offer a broadly applicable business education designed for leadership roles across industries.
| Master of Healthcare Administration | Master of Business Administration | |
|---|---|---|
| Focus | Management, leadership and operations expertise for healthcare leaders | Broad strategic thinking and cross-functional business skills for aspiring leaders |
| Careers | Healthcare leadership and administration | Leadership and administration in any industry |
| Duration | 1-3 years | 1-2 years |
| Experience required | 2-3 years | 1-5 years |
| Skills developed |
|
|
Jobs and careers: What can you do?
Salary: How much can I earn?
Which program is right for me?
Deciding if an MHA or an MBA is a better fit for you will often come down to your career goals and professional interests. Here are some pointers for choosing the right fit for you.
If the following are true about you, a Master of Healthcare Administration could be your next step:
- One of my core career goals is to make an impact in the healthcare industry
- I want to improve regulatory outcomes, patient care models and population health
- In the next five to ten years, I plan to be a healthcare leader or administrator
If the following are true about you, a Master of Business Administration may be a better fit:
- I don’t have a strong preference about what industry I work in
- Cross-functional business challenges interest me
- In the next five to ten years, I plan to be a manager or leader in a non-specialized industry
Frequently asked questions (FAQ)
The field of administration encompasses the strategies that lead to the effective management and operations of organizations. Healthcare administration is highly specialized toward the unique challenges facing healthcare organizations, while business administration is a broader field that is relevant to industry leaders across industries.
Neither degree inherently has a higher earning potential, and each individual’s path will look different. According to the U.S. Bureau of Labor Statistics, medical and health services managers earn an average annual salary of $117,960, while professionals in overall management occupations in all industries have an average annual salary of $122,090.
The MHA is specifically a healthcare leadership degree, providing targeted education for leadership roles in healthcare settings or health-related industries. An MBA can lead to careers in multiple sectors, but may not provide the industry-specific knowledge necessary to lead healthcare organizations.
MHA graduates are well-prepared to make an impact in leadership, administrative, organizational and operational roles in the complex healthcare industry. Some of the roles that MHA grads might pursue include: hospital administrator, healthcare finance manager, executive director and compliance manager.
Transform your healthcare leadership skills with SMU’s online M.H.A.
SMU’s online Master of Healthcare Administration program gives aspiring leaders the skills to drive strategic, ethical and innovative change in the healthcare sector. Our curriculum, designed in collaboration between dedicated faculty and Dallas healthcare professionals, equips students with the leadership, policy, analytical and innovation skills essential for success in today’s healthcare landscape. You’ll collaborate with peers, gain insight from policy professionals and benefit from the expertise of our distinguished faculty.
Some of the highlights of our program include:
- Interdisciplinary learning opportunities with expert faculty and healthcare professionals
- Curriculum grounded in real-world healthcare challenges
- Opportunities to collaborate with a dynamic peer network
- Designed for working professionals seeking career advancement
“Seven of Texas’ top employers are hospital systems or state health systems.”
Texas Healthcare Workforce Task Force Final Report
A nationally ranked private university near the heart of Dallas, SMU is a distinguished center for global research and teaching. SMU’s diverse, high-achieving students come from the U.S. and around the world to take advantage of the University’s small classes, innovation, leadership development and career opportunities that can provide a launch pad for global impact.
Download a brochure to learn more about the program, or start your application today.
Request information
To download a program brochure and learn more about the Master of Healthcare Administration offered by SMU, please fill out the form. You can also get in touch with an enrollment specialist directly by calling us at 469-871-6018.