Online Healthcare MBA

Identifying the most suitable option is the first step when considering an online MBA Healthcare program. Discovering the specific requirements for application is the subsequent task. Some common admissions prerequisites for online MBA in healthcare management programs include:

• Completed online application form
• Application fee
• Bachelor’s degree from an accredited institution
• Transcripts from previous academic institutions
• Résumé detailing relevant work experience
• Letters of recommendation
• Personal Statement or Statement of Purpose
• Standardized test scores (e.g., GMAT or GRE)
• Possible interview
• Relevant professional experience (varies by program)
• English language proficiency test (for non-native English speakers)

The Graduate Management Admission Test (GMAT) is a standardized test often required for MBA admissions. Some colleges, aiming to attract a broader range of applicants, waive the GMAT requirement. This practice acknowledges diverse strengths and experiences, allowing qualified individuals with significant professional backgrounds to pursue an MBA without the traditional standardized test barrier. Here are two examples of online MBA in Healthcare Administration with no GMAT programs:

• Texas Women’s University³
• University of Central Missouri⁴

Accreditation guarantees the quality and legitimacy of academic programs. For students, it ensures their degrees hold value and meet established standards. Before admissions, prospective students should thoroughly research a program’s accreditation status, verifying that it aligns with recognized educational benchmarks. This scrutiny ensures a reputable education and increases the likelihood of broader acceptance and respect in the professional sphere. Here are some accrediting bodies that accredit MBA in healthcare management.

• AACSB International (Association to Advance Collegiate Schools of Business)⁵
• Commission on Accreditation of Healthcare Management Education (CAHME)⁶
• ACBSP (Accreditation Council for Business Schools and Programs)⁷

Universities are also usually accredited by one of six regional accrediting agencies, which are:

• New England Commission of Higher Education (NECHE)
• Middle States Commission on Higher Education (MSCHE)
• Higher Learning Commission (HLC)
• Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
• Northwest Commission on Colleges and Universities (NWCCU)
• Western Association of Schools and Colleges (WASC) Senior College and University Commission (WSCUC)

Read the Accreditation Guide to learn more about accreditation.

Covering the expenses of an online MBA in healthcare management may appear challenging, yet various opportunities exist for students to minimize their degree costs.

From scholarships and grants to student loans, exploring diverse avenues can help alleviate the financial burden, making advanced education in healthcare management more accessible. Here are some details about funding options that MBA in Healthcare Management students can explore:

Scholarships

A scholarship is a form of funding for students to apply for in terms of merit. It is provided based on one’s educational qualification and other merits like sports, music, etc., and need not be paid back.

Grants

Students can be given grants by organizations like educational institutions, non-profit institutions, and state and federal governments. Unlike scholarships, they can be awarded based on needs and not necessarily on merit.

Student Discounts

MBA in Healthcare Management students can use student discounts for substantial savings. These discounts, from academic resources to professional tools, facilitate access to important materials, making education more affordable. Additionally, discounts on tuition support students in their academic journey and future healthcare careers.

Graduate Assistantships

Graduate assistantships are educational positions that provide financial support to graduate students while offering valuable professional experiences. Typically, these roles involve teaching, research, or administrative responsibilities. Graduate assistants may receive stipends, tuition waivers, or other benefits, enhancing their academic and professional development.

Student Loans

Student loans are financial tools that enable students to cover educational expenses. These loans, often offered at favorable interest rates, assist in funding tuition, books, and living costs. While providing immediate financial support, students are typically required to repay the loan after graduation, helping bridge the gap between education and future career earnings.

FAFSA

FAFSA, the Free Application for Federal Student Aid, is crucial for U.S. students seeking financial aid for higher education. By completing FAFSA, students determine eligibility for federal grants, loans, and work-study programs. This application is a key step in accessing various financial aid resources to support their educational journey.

Read the Financial Aid Guide for more information on funding higher education.

Scholarships for MBA in Healthcare Management Programs

Scholarships are among the most effective methods for funding an online MBA in healthcare management. Requiring no repayment, they enable students to showcase expertise and acquire funds for tuition, course materials, or personal expenses, enhancing financial support for their education.

Tylenol Scholarship¹¹

Established in 1982 and sponsored by McNeil Consumer Healthcare, the Tylenol Scholarship Program is renowned for supporting students pursuing healthcare degrees, including medicine, nursing, pharmacology, laboratory sciences, microbiology, physiotherapy, healthcare management, and hospital administration. Eligibility extends to master ‘s-level healthcare programs, such as the Master’s in Public Health (MPH).

Award/Amount: $1,000 to $10,000

Deadline: Varies

Foster G. McGaw Graduate Scholarship¹²

In tribute to Foster G. McGaw, the American Hospital Supply Corporation’s founder, the American College of Healthcare Executives Foundation inaugurated this scholarship. It aims to furnish financial assistance to students enrolled in graduate programs in healthcare management, assisting in reducing the financial burden of tuition, student loans, and related expenses.

Award/Amount: $5,000

Deadline: March, annually

Corris Boyd Scholars Program¹³

This program was created to feature a healthcare leader who exhibits excellence and expertise and is committed to diversity in the field. This program is open to minorities and students of color eligible within the AUPHA Online Directory of approved healthcare administration master’s programs, are full-time students, and hold a minimum GPA of 3.0.

Award/Amount: $40,000

Deadline: April, annually

Certifications and licensing requirements for MBA in Healthcare Management graduates vary and depend on the specific roles and industries they pursue. While an MBA provides a strong foundation, certain healthcare positions may require additional certifications or licenses. Examples include Certified Healthcare Executive (CHE) healthcare compliance or information management certifications. Graduates need to research and understand the specific requirements of their chosen career paths. Here are a few certifications MBA in Healthcare Management graduates can consider:

• Certified Healthcare Financial Professional (CHFP)¹⁸
  The Certified Healthcare Financial Professional (CHFP) certification program, offered by the Healthcare Financial Management Association (HFMA), caters to healthcare administrators specializing in healthcare finance, encompassing financial planning and analysis. Eligibility involves passing an examination and fulfilling educational and professional criteria without the need for licensing prerequisites. Attaining CHFP certification showcases advanced skills and knowledge in healthcare finance, elevating career prospects and professional credibility within the healthcare industry.
• The Certified Professional in Healthcare Quality (CPHQ)¹⁹
  Administered by the National Association for Healthcare Quality (NAHQ), the Certified Professional in Healthcare Quality (CPHQ) certification program certifies healthcare professionals with expertise in healthcare quality management. Successfully passing the CPHQ exam signifies a comprehensive understanding of healthcare quality management principles, encompassing regulations, data analysis, risk management, and patient safety. The CPHQ credential significantly enhances employment opportunities and professional credibility in the healthcare industry.

Networking and creating professional connections in the field is a great way to learn more about the industry, meet peers and possible hiring managers, and gain an edge when entering the job market. These organizations typically host valuable networking events and provide resources for continuing education.

• American Association of Healthcare Administrative Management
  AAHAM features over 30 chapters throughout the U.S. that specialize in supporting members through education, advocacy, and support in areas including medical registration, data analysis and management, recordkeeping, and reimbursements.
• Association for Healthcare Administrative Professionals
  AHCAP is a nonprofit organization that hosts professionals in the healthcare management field. Members gain access to networking opportunities and AHCAP’s annual conference, several webinars at no cost each year, and reduced tuition for relevant continuing education opportunities.
• National Rural Health Association
  The National Rural Health Association (NRHA), a non-profit organization uniting members nationwide, actively addresses rural health issues through advocacy, communication, education, and research. NRHA membership provides students access to crucial resources like research reports, educational materials, and networking platforms. It ensures individuals stay informed about the latest rural healthcare policies and practices, fostering connections with professionals in the field.
• National Association of Healthcare Access Management (NAHAM)
  The National Association of Healthcare Access Management (NAHAM) comprises dedicated professionals focusing on healthcare access management. Their objective is to enhance patient access services quality, including admissions, scheduling, and registration. NAHAM achieves this by advocating best practices, standards, and professionalism. Members benefit from certification programs, education, advocacy, and networking opportunities, ultimately improving revenue cycles, elevating patient experiences, and contributing to the success of healthcare organizations.