Nursing vs. Healthcare Management

Earning an MBA helps you get the knowledge and skills necessary to manage a healthcare facility.

Admission requirements:

Length of schooling:

Standard MBA programs last two years for full-time students. However, you can earn an MBA in as little as one year through accelerated programs. Part-time coursework can increase time frames.

Program curriculum:

MBA programs require anywhere from 30-60 credit hours, with an average of 36. For example, the Wharton MBA curriculum distributes its 19 credits across three tracks.

Skills gained:

Healthcare managers collaborate with physicians and other healthcare members. In this role, you plan, direct, and coordinate the health services and business activities of the operation.

Work settings:

Healthcare administrators work in hospitals, nursing homes, and medical practices. You manage all aspects of the facility, department, or group of physicians.

Degree requirements:

Roles and responsibilities:

There are many roles for nurses with their MBA. Duties may vary according to the specialty you choose.

Positions include:

Responsibilities include:

Salary:

According to the BLS, the median annual wage for medical and health services managers was $104,280 in May 2020, with a range of $89,880-116,380.

Current demand:

Between the aging baby boomer generation and expansion of medicine and technology, the demand for healthcare professionals continues to grow. This also triggers an increased demand for administrators to organize and manage facilities.

Job outlook:

The BLS projects employment of healthcare managers to grow 32% from 2020 to 2030. This profession is expanding more rapidly than the average for all occupations and is projected to increase 23% faster than other management occupations.

Admission requirements:

Length of schooling/program:

An MSN degree typically takes two years to achieve for a full-time student. An accelerated nursing program lets you earn your nursing master’s in a year. Part-time learners can take longer than two years to complete degree requirements.

MSN program curriculum:

MSN program curriculum varies by institution and concentration and can range from 36-60 credits. Accredited schools follow the American Association of Colleges of Nursing structure in the Essentials of Master’s Education in Nursing.

Focus areas include:

Skills gained:

As an APRN, you manage patient care directly and work independently or under the direction of a physician. As a nurse practitioner, you can diagnose, treat, and prescribe medications in some states.

Work settings:

APRNs function in a wide range of healthcare environments. Areas may include hospitals, clinics, physicians’ offices, and outpatient facilities.

Roles and responsibilities include:

Salary:

The BLS states that the salary range for nurse anesthetists, nurse practitioners, and nurse midwives in 2020 was $111,130-$183,580. The median salary was $117,670 per year.

Current demand:

Advanced practice nursing is a rewarding profession in high demand. The U.S. lacks an adequate number of physicians to meet patient needs, and APRNs perform much of the same care. A shift to preventive care and an increasingly aging population are also factors.

Job outlook:

According to the BLS, the overall employment of nurse practitioners, nurse anesthetists, and nurse midwives could increase by 45% from 2020 to 2030. This profession is growing faster than the average for all occupations and is projected to have 33% more available jobs than other healthcare diagnosing or treating practitioners.

Comparing health administration vs. nursing, healthcare administration concentrates more on the business and management aspects. You may collaborate with the healthcare team and physicians while focusing on the operations, standards, and budget of a facility. An APRN manages and cares for patients directly.

This path offers an income stream with a high demand for healthcare administration. Healthcare administration is also growing more rapidly than all other management occupations.

Having an advanced degree as a healthcare administrator presents you with an industry-leading salary and a variety of job prospects in different settings.