25 Reasons why a Master’s in Healthcare Administration is Worth it!
Written By: Raymond Aguirre, RN, BSN, PHN, CHPN
There is a good chance that you have heard of the MHA or the Masters in Healthcare Administration degree. It is one of the most popular graduate degrees today, and for good reason. It offers many benefits, and you may have considered getting the degree yourself. But is a master’s in healthcare administration worth it? That is a decision that you will ultimately have to make, but the short answer is that yes, it is definitely worth the time, money, and effort. Here are 25 reasons why a master’s in healthcare administration is worth it and hopefully, this article will convince you to take the next step in advancing your career.
IS A MASTER’S IN HEALTHCARE ADMINISTRATION WORTH IT?
(Following 25 reasons will convince you why a Master’s in Healthcare Administration Degree is totally worth it.)
1. The sky is the limit when it comes to your earning potential.
How does a six-figure salary sound to you? If great earning potential is something that drives you, then it is one of the biggest reasons why a master’s in healthcare administration is worth it. According to the Bureau of Labor Statistics, medical and health services managers earn a median income of $50.13/hour or $104,280/year
. Moreover, healthcare managers also receive bonuses, depending on their employer or their performance. With an MHA degree, careers like
this are well within your grasp.
2. An MHA degree gives you a competitive edge
Working in healthcare administration does not require the extensive training that many medical professionals, like doctors, need. However, with an ever-tightening job market, an MHA is worth it if you want to make yourself more attractive to prospective employers. An advanced degree shows that you are serious about your career because you have taken the extra mile to enhance your skills and your credentials.
3. Your skills will be in-demand.
One of the biggest reasons why a master’s in healthcare administration is worth it is the level of growth projected in healthcare management positions. Medical and healthcare service managers are expected to grow at a whopping rate of 32%
through 2029. That means that you will have plenty of options and opportunities to grow as a professional. An MHA degree will help you become a highly sought-after professional in a dynamic field full of possibilities.
4. You will be more secure in a “recession-proof” industry.
The healthcare industry is relatively insulated from the volatility of the job market. Healthcare is an essential service, no matter the state of the economy. Having an MHA can further help you weather uncertain times because you are likely to work in crucial administrative and management positions that are critical to the operations of healthcare facilities.
5. You will be prepared for executive leadership.
An MHA is worth it if one of your career goals is to ascend the highest rungs of healthcare organizations. A typical MHA curriculum
includes courses in finance, marketing, law and ethics, project management, and administration. These are subjects that provide insight on the key aspects of building and growing healthcare organizations. Being knowledgeable in these areas shows potential employers that you have what it takes to be in charge.
6. You can have a “hands-off” healthcare career.
Not everyone who wants to work in healthcare likes the idea of being at the bedside, tending to the immediate needs of patients and their families. There is absolutely nothing wrong with that. One of the top reasons why a master’s in healthcare administration is worth it is that it opens the doors of the healthcare profession to people who like the idea of caring for others, but do not necessarily want to engage in clinical practice.
7. An MHA is a relatively convenient degree to attain.
A major concern that many people have when considering going to graduate school is the time commitment it requires. If you are considering getting an MHA and are worried about how it will affect your lifestyle, your fears are not unfounded. Attaining an advanced degree is never a cakewalk. But with so many flexible options out there, pursuing an MHA does not have to be a totally life-altering event. There are online options, 1-year degree programs
, or both. People with full-time careers or have families to care for may not have to give everything up to pursue an MHA.
8. You will learn practical skills.
A graduate degree in healthcare administration is a degree that prepares you for real-world practice. It is not a research degree that revolves around theoretical concepts. Studying healthcare administration involves classes like management and finance that help you build skills that have a direct application to the jobs that you are expected to do after you complete your degree.
9. An MHA can turn you into a specialist.
Among the top reasons why a master’s in healthcare administration is worth it is that it is uniquely tailored for those who specifically want a career in managing healthcare institutions. There are other degrees that may lead to a job in health administration, but they may not be as ideal if you are focused on working in the healthcare industry. Take the MBA, for instance. There are a lot of parallels between the jobs that you can get with an MBA and an MHA, but an MHA is more tailored to healthcare management. Therefore, if you are committed to a healthcare career and choosing between an MBA and an MHA
, then the MHA will likely give you the credentials you need to be seen as a healthcare specialist, rather than a generalist.
10. An MHA degree is useful for many healthcare professionals.
If you are considering an MHA degree, chances are that you are already working in the healthcare industry. Whatever training or license you may have, an MHA will come in handy for you. Doctors or nurses, for example, may consider going into administrative roles but may not necessarily have the training to do so. An MHA can fill this gap and enhance the expertise and the skills of these professionals.
11. There are a variety of careers in healthcare administration.
Healthcare administration is a multi-faceted field. If you are an outgoing person, you may go into marketing. If you are good with numbers, there are jobs in finance departments. And if you prefer overseeing projects and managing resources, there are also opportunities in project management. In other words, whatever area of healthcare management you choose, a master’s in healthcare administration is worth it for the simple reason that you will be prepared for many types of specialized roles.
12. Your skills will be valued.
Working in healthcare means that you will likely work with many individuals who have clinical training. With an MHA, your talents will be valued because you offer a set of skills that many of the people you work with do not possess. Running a healthcare organization requires more than just the people who can tend to the direct needs of the patients. It also requires people behind the scenes who can help ensure the smooth operation of the organization.
13. You have the opportunity to make systemic changes.
Healthcare managers are in a special position to make a difference. Because they oversee things on an operational level, they are in a position to solve systemic problems. For example, hospital managers have a direct impact on the hiring practices of their facility. Other times, they may create and authorize budgets. This kind of authority gives them the power to affect change on an institutional level, which can be a profound responsibility.
14. You can mentor others.
Some schools have mentorship programs
that give healthcare administration professionals the chance to share their knowledge and experience with others. If you believe you have a calling in inspiring others to achieve their fullest potential, then that may be a good reason why a master’s degree in healthcare administration is worth it. With an MHA, you will not only be advancing your career, but you will also help others do the same.
15. You will have a better understanding of the healthcare system.
An MHA can help give you the knowledge you need to understand how healthcare in America works. Our country’s healthcare system is complex to decode even for some of those who already work within the industry. Having an MHA can give you the knowledge you need to decode the intricacies of the healthcare system and that, hopefully, will give you the awareness necessary to troubleshoot and address the issues within it.
16. You can go into public service.
Did you know that there are actually positions in the public sector where you can use an advanced degree in health administration? The United States Public Health Service (USPHS)
, for example, is a federal agency that hires healthcare administrators to carry out its mission. If you are interested in working with this agency and contributing to improving public health in the United States, you will actually need a master’s degree to qualify.
17. An MHA degree can help you get certified.
A master’s degree in healthcare administration is worth it if you are thinking of further enhancing your professional credentials by acquiring certifications. One example is a certification from the American College of Healthcare Executives
, which not only requires membership in their organization and work experience, but also an advanced degree. An MHA in and of itself can open doors to opportunity but getting certified by a nationally recognized organization puts you even further ahead of the curve.
18. You can help address society’s growing need to care for seniors.
The United States Census Bureau projects that by the year 2030, all baby boomers will be over the age of 65
. This fact carries great significance particularly for those who work in the healthcare industry. An MHA degree can help provide you with highly specialized knowledge in addressing the growing need to care for seniors, which is expected to heavily impact America’s healthcare system in the years to come.
19. An MHA can lead to public policy careers.
Some people with an interest in politics may find that a master’s degree in healthcare administration is worth it because it can allow them to affect public policy and be an agent of social change. Some job titles in health policy include healthcare policy analyst, health policy communication specialist, and healthcare policy consultant.
20. An MHA can lead to technology careers.
An MHA can help you land jobs in companies that aim to harness the power of technology to improve health care delivery across the country. Biotechnology, telehealth, and medical equipment organizations are just some places that may be looking for a skilled administrator to help support their operations.
21. An MHA prepares you for entrepreneurship.
The MHA degree is not just for those looking for better jobs. If you are a self-starter with innovative ideas, perhaps entrepreneurship is the path for you. A master’s in healthcare administration is worth it because it will teach you the skills you need to run the many aspects of a business venture.
22. You will become a better problem solver.
Having an MHA will prepare you for many careers that require you to use critical thinking skills to solve problems. With this degree, you will sharpen your ability to analyze issues and find creative ways of addressing them. This is a skill that will help give you a boost both in your career and in your personal life.
23. You will become a better communicator.
As a degree that prepares you to be a leader, you will also receive training in how to properly communicate with others on various levels. An MHA can help hone your negotiating skills, address grievances in a professional way, and find ways to bridge the gap between parties that may have conflicting interests.
24. You will learn to become more organized.
Administrators are valued because they ensure that organizations are operating efficiently and effectively. This requires strong organizational skills. An MHA degree can help you develop this skill within the safe environment of an academic institution so that you can apply it later to your own professional setting.
25. You will have a strong sense of accomplishment.
Pursuing an MHA degree can improve your career in many ways. However, it can also bring you non-tangible benefits such as a feeling of accomplishment. An MHA degree is a challenging degree that requires you to become competent in many skills. By acquiring this degree, you will develop confidence in your ability to overcome professional and personal challenges.
Summing It Up
As you have seen, a master’s degree in healthcare administration offers many benefits. But is a master’s degree in healthcare administration worth it? I think you should be the judge of that. This list contains just 25 reasons why a master’s degree in healthcare administration is worth it. It is definitely not an exhaustive list, but hopefully, it is enough to convince you that pursuing an MHA is a worthy endeavor. Not only does it provide you with great opportunities, but it will also make you a more well-rounded professional that is highly coveted and valued by many different kinds of healthcare organizations.
Raymond Aguirre RN, BSN, PHN, CHPN
Raymond M.E. Aguirre is a registered nurse with years of experience in the medical field. He currently works as a public health nurse and has years of experience in home health, hospice, and skilled nursing facility settings.