| Should a person get an MHA or an MBA as his or | | | | a different perspective than yours) or who have |
| her advanced degree in health care? | | | | a strong interest in the industry. Either way, |
| A number of students have been asking that | | | | there's much to be gained from interacting with |
| question as they contemplate their future. | | | | your peers. And while peer learning will also take |
| Physicians who want more management | | | | place in any MBA program, the knowledge gained |
| knowledge and skills have also been wondering | | | | is more diffused. |
| the same thing. | | | | 4. Commitment to Others. Most MHA programs |
| Is there a definitive way to gauge which choice is | | | | have a history of service to others, which goes |
| best for a particular situation? | | | | back to the early days of non-profit hospitals and |
| The simple answer is -- it depends. It depends on | | | | other medical services. And while more and more |
| your current level of knowledge about health care | | | | health care services are being run either as a |
| and it on how you intend to use the degree. While | | | | for-profit venture or like one, there is still that |
| there are no hard and fast rules, a few simple | | | | "service to people" thread that weaves through |
| guidelines might help in deciding which route is the | | | | the industry and MHA programs. MBA programs |
| best one for you to take. Here are five: | | | | are actually playing catch-up in that regard as |
| 1. Current Health Care Knowledge. How much do | | | | they now offer courses and programs dedicated |
| you already know about health care? Is it already | | | | to social entrepreneurship. Still, if you are most |
| a fair amount, having spent the past ten years in | | | | attracted by money and wealth, the MBA is |
| the industry or are you new to the industry and | | | | probably the best place to go. |
| want to break in? A master in health | | | | 5. Competitiveness. There a lot more people |
| administration (MHA) program is likely going to | | | | applying to get into a top MBA program at a top |
| have most, if not all, of its coursework specifically | | | | school than those trying to get into an MHA |
| related to health care. Thus, even a financial | | | | program. For example, more than 1,200 people will |
| management course is going to teach you the | | | | compete for openings in the MBA program at the |
| principles of finance in the context of health care. | | | | Kenan-Flagler School of Business at the University |
| For some people, that immersion in health care is | | | | of North Carolina at Chapel Hill. Meanwhile, on |
| important; for others it may not be all that crucial. | | | | average, about 120 students apply to the |
| Not surprisingly, a "traditional" MBA program is not | | | | residential MHA program. If you're worried about |
| going to have that industry focus (unless it's | | | | your chances of getting in or you are looking at |
| specifically designed for health care). | | | | the odds, then you might look at the MHA |
| 2. Health Policy. MBA programs generally don't | | | | degree. Of course, some students wind up getting |
| tend to spend much time on health policy issues, | | | | a dual MBA/MHA degree, but those are rare and |
| while most MHA programs either have specific | | | | require a much greater commitment of time and |
| classes in that area or cover the same material in | | | | energy. |
| a variety of different classes. Health policy is | | | | Each situation is different. Perhaps where you live |
| significant for health care professionals for several | | | | the MBA program is your best bet because it's |
| reasons. First, so much of health care is | | | | high quality, affordable and convenient. On the |
| scrutinized and regulated by government entities. | | | | other hand, perhaps the MHA is your best route |
| Second, policy decisions often wind up driving | | | | because you clearly intend to be the CEO of a |
| business decisions. Thus, the more knowledgeable | | | | health system and you need all the knowledge |
| one is on the complexities surrounding health | | | | and skills you can find in health care to be |
| policy, the better one should be in making | | | | considered for the job. |
| executive decisions. | | | | Whichever degree works best for you, get that |
| 3. Peer Learning. Some of the best learning takes | | | | degree. An advanced degree (whatever it is) will |
| place between and among students. The usual | | | | likely do more to boost your career, especially in |
| advantage of being enrolled in an MHA program is | | | | the early years, than anything else you can do. |
| that you are surrounded by peers who are either | | | | It's become the required listing in most |
| currently employed in health care (and thus bring | | | | executive-level job searches. |