MBAs in Healthcare
MBA with no health care experience
New MBAs with no health care experience often find jobs in similar venues as undergraduate liberal arts majors: consulting or financial services firms. While they come in with more responsibility and a much higher salary than undergraduates, MBAs without previous experience in health care are unlikely to be assigned to work exclusively within the health care industry. MBAs with a strong interest in developing health care experience should seek out opportunities as internal analysts or administrators for managed care companies, hospital or corporate health benefits offices. Other routes include finding work in the marketing offices of large pharmaceutical companies and physician groups.
MBA with health care experience
MBAs with previous health care experience have a range of options working in the health care industry or in related service industries such as consulting and public relations. Consulting firms often hire these individuals exclusively to work and develop new business among health care clients. McKinsey & Company hires individuals with substantial health care experience (either in consulting or industry) as "practice experts," a track separate from the more the general business analyst and associate tracks.
Depending on the nature of their previous experience, MBAs with previous health care experience join hospitals or hospital systems as junior administrators with the option of staying and rising through the ranks of the institution's administrative hierarchy. MBAs with clinical experience as physicians have the most lucrative opportunities: Many of these individuals are called on to oversee and manage the intersection of financial and clinical processes as hospital quality administrators or managed care medical directors.