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Back in the 1900s, the life expectancy of an average person was around 50 years, but now it is between 70 and 80 years. So, in the past century alone, the life expectancy of an average human being has grown by 50%. Another thing that has increased remarkably from the 1900s is the world population. According to the United Nations population census, the world population was about 1.6 billion in 1901. Today, it is 7.8 billion.

So, what changed in the past century to cause such a drastic increase in the numbers? More births and fewer deaths. And do you know what’s to thank for this? The current healthcare system!

As our life expectancy keeps increasing, and our population keeps growing the healthcare industry is consistently on the rise. It is one of the most profitable and promising industries of the future because healthcare is necessary for as long as humans live. Our best bet is at least another billion years.

Healthcare is a vital part of civilization, and you can see just how much, considering the current coronavirus pandemic. COVID-19 has taken the entire world by storm with lockdowns, overfilled hospitals, and educational institutes turning into quarantine wards. Can you imagine what would’ve happened if we had no health support? The current world situation would’ve been like the great plague back in the 14th century that allegedly wiped out nearly half the world at that time. Our healthcare system is the reason the current pandemic is on its way out, with over 60% of the affected recovering.

The healthcare industry is expected to grow at a compounded annual growth rate of almost 9%, and the trends show that it might touch 12 trillion dollars by 2022. It is growing at a faster than average rate and consequently, the demand for healthcare professionals or healthcare managers is on the rise.

Healthcare management is the administrative limb of the health industry. Today’s healthcare system is dynamic and ever-evolving. This rapid change and complexity in our healthcare systems require people just as dynamic and versatile to manage and administrate this global sector. These people are so important that the healthcare industry might not be able to function without them. If doctors and medical staff are the brains of this industry, healthcare managers are the body – they get things done. This sector requires specialized managers and not just any managers. So how do you become a healthcare management expert?

The most professional and familiar way to become an administrative healthcare expert is through a business school, and specifically through an MBA in healthcare management. Although this discipline exists at the bachelor’s level, most of the people willing to go into this profession opt to do a master’s in healthcare management. Bonus points for doctoral degrees. These degrees focus on a whole array of health-specific subjects, but they can be broadly classified into two types – the generalist degree and the specialist degree. The generalists usually concentrate on the overall facility, and the specialists, as the name implies focus on the administration of specific departments like accounting, operations or marketing.

Healthcare managers, both generalists or specialists are offered jobs on a wide spectrum, it could be as small as a clinic, or as big as a chain of hospitals. There are a lot of branches to the healthcare industry like pharmaceuticals, insurance, private clinics, nursing and residential care, hospital franchises, and technology. With a growth in the overall healthcare system, there is an increase in the requirement for all these branches. For this reason, there’s no shortage of jobs in the healthcare sector, in fact, the Bureau of labour statistics indicates that by 2026 there should be about 2.4 million new jobs in the healthcare industry and loads of money. The Bureau of labour statistics also reports that a healthcare manager earns anywhere between $60,000 to $175,000 depending on their segment. So, if you’re convinced that this is the industry for you, then check out this list of the best colleges for MBA in healthcare management and other programs, ranked according to eduniversals best healthcare masters programs 2019.

  1. MBA Health Sector
    Questrom School of Business – Boston University, USA

    2. Rank: 1

    Cost: $57,000

    Duration: 2 years/ Full time

  2. MBA/MPH Health Management
    Haas School of Business – University of California Berkeley, USA

    3. Rank: 5

    Cost: $68,000

    Duration: 2.5 years

  3. MBA in Health Care Management
    Wharton School of Business – University of Pennsylvania, USA

    4. Rank: 7

    Cost: $80,000

    Duration: 20 months

  4. MBA in Health Industry Management
    Schulich School of Business – York University, Canada

    5. Rank: 19

    Cost: $26,000

    Duration: 20 months

  5. Master of Health Management
    DeGroote School of Business – McMaster University, Canada

    6. Rank: 39

    Cost: $88,000

    Duration: 1 year/Full time, 32 months/Part-time

    Admissions open in October 2020 for Fall 2021

  6. MSc International Health Management
    Imperial College London, UK

    7. Rank: 18

    Cost: $39,000

    Duration: 1 year

  7. MBA in Healthcare Management
    Brunel University, UK

    8. Rank: 71

    Cost: $31,000

    Duration: 1 year

  8. MSc Health Services Management
    Trinity College Dublin, Ireland

    9. Rank: 10

    Cost: $22,000

    Duration: 2 years/ Part time

  9. MSc Health Care Management
    Erasmus University Rotterdam, Netherlands

    10. Rank: 17

    Cost: $15,000

    Duration: 1 year

  10. MBA in International Healthcare Management
    Frankfurt School of Finance & Management, Germany

    11. Rank: 24

    Cost: $41,000

    Duration: 20 months

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