West Texas A & M University offers a cheap online Master's in Healthcare Management degree for students who are interested in an accredited program that provides a pathway to becoming an administrator in the healthcare field. This specific program is highly rated for its 100 percent online format, the number of professors who are working professionals, and for its asynchronous format. Students generally complete this degree within 12 months with full-time study; five years in the maximum amount of time allowed for the program. Students should note that in order to enter the Healthcare Management concentration, they must have two years of work experience in the field prior to applying. Students can expect to complete 49 credit hours of coursework, an MBA portfolio, and a comprehensive written and oral exam. Sample courses include Planning for IT in Healthcare, Business Communication for Health Care Managers, and Economics of Health and Medical Care.
10 Most Affordable Master’s in Healthcare Management Online in 2021
Healthcare managers are one of the biggest parts of a working healthcare system; that’s why demand for online Master’s in Healthcare Management degrees continues to rise. In America, the healthcare system is a behemoth, creating the need for more managers and professionals who can take on the administrative tasks with ease. There’s no better way to meet that need than by getting an online degree.
Online degrees are the perfect solution for working professionals, many of whom are already working in the healthcare field. With flexible scheduling, asynchronous courses, and the ability to complete fieldwork experience in their own communities, students are flocking to online programs as an alternative to more expensive traditional programs. This ranking is a result of that demand.
Accredited Online College Programs
All information needed for this ranking was pulled from the National Center for Education Statistics and its College Navigator database. Using the degree as a baseline, schools were vetted for gainful employment disclosures, academic retention rates, and more. An initial pool of 175 schools was created, and from there, the final 10 schools were chosen based on in-state graduate tuition rates. They are listed here in descending order based on affordability.
10 Most Affordable Master’s in Healthcare Management Online in 2021
Our Methodology, Explained
Grad School Hub compiles rankings based on public data released from educational, commercial, and government databases. Sources such as the National Center for Education Statistics and the U.S. Bureau of Labor Statistics play a significant role in how we source our educational data. After collecting insight for each institution, we organize information into five weighted categories.
Metric Data Used Percentage Academic Quality Full-time faculty percentage, student-to-faculty ratio, student retention and graduation rates 30% Affordability Tuition rates, median student debt, and financial aid 10% Reputation Admission and enrollment rates 30% Program Offerings Number of program options 20% Online Enrollment Score Portion of learners taking at least one online course 10%
A more comprehensive evaluation of how each category is determined and scored is accessible on our Ranking Methodology page.
Frequently Asked Questions
What are the Career Options for an Online Master’s in Healthcare Management Degree?
Professionals who earn a graduate degree in healthcare management have a variety of career options available to them. Some of these include:
- Health Care Consultant
- Hospital CEO
- Hospital CFO
- Health Information Manager
- Hospital Administrator
- Medical and Health Services Manager
- Nursing Home Administrator
- Practice Manager
- Pharmaceutical Project Manager
- Medical Practice Manager
The above is just a few of the options available to professionals in this field, but there are others. Journalists and freelance writers in healthcare management are in high demand. Consultants and entrepreneurs are also necessary for the advancement of the field. The choice of career is really up to the professional, so students are encouraged to do research into any option that may be of interest to them.
How Much Can You Earn in This Field?
The salary range for professionals who earn a degree in healthcare management ranges from $81,000 to $200,000. This range depends on a professional’s career position, the size of the company they work for, and what part of the country they are located in. Students should also note that this salary range does not account for any bonus compensation that may also be part of a job offer.
On the low end of the scale, healthcare managers make $81,000, which increases with more work experience and if they choose to move to larger companies. On the high end of the scale, Hospital CEOs and C-Level executives often make between $166,000 to $200,000 during the middle of their career.
The healthcare management field is lucrative for professionals, but actual salaries depend on their career path. With higher wages comes more responsibility, and that can be a difficult concession to make for many professionals. However, regardless of position, professionals in the healthcare management field make above average salaries no matter their job title or region.
What are the Various Disciplines of Healthcare Management?
Healthcare management is an interdisciplinary field that consists of healthcare, business, economics, and politics. Because the American healthcare system is complex, it also encapsulates a variety of other disciplines that deserve mention.
Many healthcare managers focus on administration and management. This can include accounting, finance, human resources, organizational leadership, and psychology. They are involved in making sure their organization, clinic, or hospital runs smoothly, so having an understanding of all of these disciplines is necessary in order for them to complete their work effectively.
Some healthcare managers also focus on policy and regulations. This means they must have an understanding of law, policy, health and safety regulations, government, and more. They are responsible for a great deal of the legalities that come with running a healthcare company, so they need to ensure they are updated on all of the key regulations at the local, county, state, and federal levels.
There are some professionals who specialize in one form of healthcare management or another. For example, a nursing healthcare manager may need to understanding nursing better than a manager who focuses on substance abuse facilities. The list can go on, but these are just some of the disciplines that are at play in the healthcare management field.
Is Business Accreditation Necessary for a Degree in Healthcare Management?
Many students believe that business accreditation should not be necessary for an online Master’s in Healthcare Management. The opposite is actually true, especially if a student chooses to pursue an MBA with a healthcare management specialization. There are a few good reasons for this.
One, if a student takes on an MBA in Healthcare Management, they are getting a degree in business with a specialization in the healthcare field. This means that the student understands that there is a relationship between business and healthcare, especially in the United States. Students often will realize this when working on an internship or if they choose to pursue a practicum.
Two, because the healthcare industry is one of the major players in the business sector, it can be a smart move for a student to take on an accredited business degree. It’s critical for students who wish to become C-level executives, as most of their responsibilities lie on the business side of the field. It can also be a great way to network while still in school; business degrees often have a requirement for internships, which can lead professionals to make working relationships a reality prior to graduation. Those internships can also result in job offers.
But accreditation is more to do with the quality of a program and what additional opportunities lie ahead for a professional than anything else. Accreditation from the AACSB or the IACSB shows that a program adheres to strict standards that result in qualified candidates that are needed in the industry. In some cases, accreditation can also lead to certification in a variety of healthcare management jobs, something that can propel a student into a profession that is as rewarding as it is challenging.
Finally, accreditation offers students the chance to get comfortable with the business side of healthcare management at the top levels. Everything from budgeting to scheduling is under a healthcare manager’s control, so it’s important to understand how one decision will affect an entire organization or healthcare system. Students are advised that business accreditation, while not necessary for a degree in healthcare management, can be a huge benefit that pays off dividends in the future.
Is it Possible to Apply for Entrance Into a Healthcare Management Program Without Previous Experience in the Field?
It is possible to enter some online graduate healthcare management programs without previous work or educational experience in the field. This includes some of the programs that are listed on this ranking.
Students are advised that finding an online Master’s in Healthcare Management that provides entry for pre-service professionals can take some time. That’s because many of these programs were designed for working professionals and provides only advanced courses in subjects that are already known to these professionals. It also makes it easier for schools to provide other electives, core curriculum courses, and work experiences for these students.
However, it remains a possibility that some students can enter into these programs. Some programs have a pre-service professional entry route for students. The main requirements are an accredited undergraduate degree, references, and GRE or GMAT scores. Most of the time, acceptance is conditional and at the sole discretion of the department.
Pre-service professionals will find that they may have a lot of prerequisite courses that are required before they enter the actual program. These are foundational courses in healthcare management and must be completed in order for the student to be up to speed when they enter the curriculum. A student will not be able to complete their degree without these courses.
It may also be a requirement that students with no work experience take on a practicum or an internship during their program of study. This is to ensure that the professional is keeping up with the curriculum and can successfully apply the concepts and skills they’ve learned in the classroom to the workplace. The internship may be highly encouraged, but most of the time is mandatory for these students.
Healthcare management is a challenging but rewarding career for any professional. With a variety of career options and the ability to specialize in one particular field, the possibilities are endless for an ambitious student. Professionals will now be able to begin the process of researching schools with this ranking that are not only online and flexible, but also affordable programs in Master’s in Healthcare Management.
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This concludes our ranking of the Top 10 Most Affordable Master’s in Healthcare Management Online.
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