Illinois Healthcare Management MBA Degrees

The graduate degrees known as Master of Business Administration (MBA) in Healthcare Management and Master of Health Administration (MHA) have basically the same purpose. They are degree programs designed for those who want to manage the business side of the healthcare industry. The curriculum of these programs are quite varied and diverse, but they will always include topics, such as the development of leadership strategies, managing the healthcare system, controlling the finances of the healthcare organization, managing healthcare information systems, and more. Those who plan to obtain a position of senior leadership in this field will want to obtain complete either the MHA or the MBA in Healthcare Administration.

Salary and Job Outlook

The U.S. Bureau of Labor Statistics (BLS) has reported that the median wage for healthcare executives with bachelor’s degrees was $94,500 per year when they surveyed in May 2015. However, those with a master’s degree have been found to earn about $15,000 more each year. In Illinois, there are 13,380 healthcare managers. This is less than in Ohio, Texas, New York, and California, but higher than all other states. Their average annual salary is $101,840, which is higher than both Ohio and Texas. According to the BLS, healthcare managers can expect to see a demand growth of 17% between the years of 2014 and 2024, which is much faster than the national average. This growth in demand is expected to continue for a long time because the population of the state is aging and the population has also been experiencing increasingly complex healthcare needs. Moreover, since the implementation of the Affordable Care Act, there has been an increased need for those managers who are capable of bringing the costs of healthcare down while ensuring that quality of care does not decline.

If you want to study towards an MBA in Healthcare Management, or towards an MHA, make sure that you look for the right school for you and this can be done by reviewing the various alternatives. Below are the four best MBA in Healthcare Management programs available in Illinois that you may want to think about. Contact at least three schools before making a decision where to enroll.

1. Loyola University Chicago

The health care industry is evolving at a rapid pace, and this requires leaders who are able to keep up and manage the changes. This is true locally, nationally, and globally. Loyola University Chicago’s Quinlan School of Business offers an MBA in Healthcare Management degree with the aim of delivering responsible, effective leaders who have the understanding, skill, and knowledge to take on the changes experienced within this dynamic industry.

The degree is offered in cohorts, which enable students to network with others who are involved in the industry. The degree itself is very flexible, requiring just one day a week of campus visits. The Quinlan School of Business is nationally ranked for its highly esteemed faculty. Other faculty members involved in the degree program come from the schools of law and medicine.

• Campus: Chicago, IL
• Type: Private
• Accreditation: HLC, AACSB
• Tuition: $86,592 for the entire program
• Minimum time commitment: Two years
• Online availability: No
• Degree requirements: Statement of purpose, official transcripts, two letters of recommendation, resume, interview, seven years’ relevant work experience
• Programs: MBA in Healthcare Management
• School Site: Tuition and Financial Aid

2. The University of Illinois at Chicago

The School of Public Health has collaborated with the College of Business Administration (CBA), both part of the overall University of Illinois at Chicago, to build a strong curriculum for a Master in Healthcare Administration. This program is for those who are interested in becoming managers within health service organizations, including long term providers, supply chain, managed care plans, ambulatory care centers, hospitals, and so on. Students are provided with a program that combines the knowledge of the health care sector with competence in management. They must take part in a number of core courses such as management, marketing, informatics, strategic population based planning, human resources, finance, economics, and accounting. The program also focuses strongly on CBA courses. Furthermore, students are encouraged to build their network relationships with ambulatory care centers, long term care organizations, hospitals, and medical centers.

The School of Public Health also offers a 48 semester hour CEMHA (Clinician Executive Master of Healthcare Administration), which is designed for those who already have significant working experience that field. This program is specifically for those who have extensive clinical experience and who want to take on positions of leadership in long term care provision, physician group practices, the health supply chain, managed care plans, and more.

• Campus: Chicago, IL
• Type: Public
• Accreditation: HLC, CEPH
• Tuition: Varies depending on range of residency
• Minimum time commitment: Two years
• Online availability: No
• Degree requirements: Bachelor’s degree, GPA of 3.0 minimum, GMAT/GRE, TOEFL if applicable, three letters of recommendation, personal statement, at least seven years’ managerial experience for CEMHA
• Programs: Master of Healthcare Administration, Clinician Executive Master of Healthcare Administration (CEMHA)
• School Site: Tuition and Financial Aid

3. Benedictine University

At Benedictine University, it is understood that qualified leaders are needed within the health care industry. These leaders need the analytical and strategic capabilities that are delivered by MBA programs, but focused on the field of health care. The health care industry as a whole is one of the nation’s fastest growing in the economy, while also being in a constant state of reform and transformation.

The MBA in Health Administration offered by Benedictine University is delivered online. It shows students how marketing, operations, and financial activities can be applied to different types of health organizations, including home health care providers, pharmaceutical companies, clinics, and hospitals. Graduates are respected for their ability to take on strong positions of leadership, thereby ensuring patient care and outcomes are improved, while at the same time being mindful of budgets. Graduates can become generalists in charge of an entire system or facility, or specialized in a specific clinical department.

The said graduate degree is designed both for those who already have health care experience and want to enter management, and those who have managerial experience and want to transition into the health care industry. The background of the degree is firmly in business, adding broad knowledge of the health care system to the curriculum.

• Campus: Lisle, IL
• Type: Private
• Accreditation: HLC
• Tuition: $550 per credit hour
• Minimum time commitment: 17 credits
• Online availability: Yes
• Degree requirements: Transcripts, two letters of recommendation, resume, letter of intent, GRE/GMAT, TOEFL if applicable
• Programs: MBA in Health Care Administration
• School Site: Tuition and Financial Aid

4. Concordia University Chicago

At Concordia University Chicago, an MBA degree program has been developed to address the unique needs of the health care industry. Graduates know how to take on specific issues in management and leadership within the economy of health care. They are known for their fundamental business analysis skills and their critical thinking skills. Graduates are excellent problem solvers, focusing specifically on the financial and operational challenges of the health care industry. Concordia alumni can be found working as heads of quality improvement, hospital CEOs or CFOs, health care association directors, hospital administrators, and health care consultants.

• Campus: Chicago, IL
• Type: Private
• Accreditation: ACBSP, ISBE, HLC
• Tuition: $699 per credit hour
• Minimum time commitment: 36 credit hours
• Online availability: Yes
• Degree requirements: Objective statement, transcripts, TOEFL if required, two letters of recommendations, resume, GPA of 2.85 minimum.
• Programs: MBA with Health Care Management Specialization
• School Site: Tuition and Financial Aid