The healthcare business is on the ascendancy and it is not a secret anymore – it has been that way since the Coronavirus Pandemic in 2020. In 2022, it was estimated that the healthcare industry in India would be worth 133.44 billion dollars! As part of this development, you would see more hospitals being developed which in turn will need more staff and management professionals.
An MBA in medical field equips professionals with the managerial skills needed to excel in healthcare administration, hospital management, and related sectors. In this article, we will discuss all you need to know about an MBA program in the medical domain and the kind of employment opportunities you can expect afterward.
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Highlights of MBA programs in the Medical Field
An MBA in Hospital and Healthcare Management is a two-year PG (postgraduate) program that usually follows a semester type of examination pattern. You typically need at least 50% marks in your undergraduate studies to be considered eligible for the program – in the case of SC/ST (Scheduled Caste/Scheduled Tribe) students, this requisite is at 45%.
Apart from these, you also need to crack management tests such as the following:
- CAT (Common Admission Test)
- MAT (Management Aptitude Test)
- XAT (Xavier Aptitude Test)
- CMAT (Common Management Admission Test)
- ATMA (AIMS or Association of Indian Management Schools Test for Management Admissions)
- State Common Entrance Test
Admission to these programs is mostly merit based and the admission process normally starts between March and July every year. The course fee in these programs can be anywhere between Rs 2 lakhs and Rs 10 lakhs.
Top Employers of MBAs in the Medical Field
If you have an MBA after MBBS (Bachelor of Medicine, Bachelor of Surgery) you will find work not only in India but also around the world and the most prominent sectors that will recruit you are healthcare institutions and hospitals, consulting firms, biotech and pharmaceutical companies, and technology and IT (information technology) firms in healthcare.
In terms of companies following are the top recruiters of such graduates:
1. Healthcare institutions and hospitals
- AIIMS (All India Institute of Medical Sciences)
- Fortis
- Max Healthcare
- Medanta – The Medicity
2. Consulting firms
- Deloitte
- KPMG (Klynveld Peat Marwick Goerdeler)
- Tata Consultancy Services
- Capgemini
3. Biotech and pharmaceutical companies
- IQVIA
- Novartis
- Johnson & Johnson
- Thermo Fisher Scientific
4. Healthcare technology and IT firms
- Kaaya Health
- In-Med Prognostics
- Imaginate Technologies Inc.
- MediLocker
Read this blog also:- Why Pursue an MBA in Marketing?
Top Jobs for MBAs in the Medical Field
Following are the top jobs for students who have an MBA for doctors degree in the government sector along with the expected salaries and job descriptions:
Following are the top jobs for students who have an MBBS MBA degree in the private sector along with the expected salaries and job descriptions:
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Conclusion
If you have an MBA in hospital and healthcare management, you can accelerate your growth in the hospital, clinic or healthcare organization set-up. However there are other MBA degrees too that you can check-out based on your interest.
