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Is a master's in healthcare administration (MHA) worth it?
Posted on 3/8/23 at 12:05 pm
Posted on 3/8/23 at 12:05 pm
I feel like I have seen this thread get thrown around on here a few times. To summarize I am a nursing home administrator who is interested in getting my MHA. I don't really know if it would be worth my while though. I don't need it for my current job, but it would be beneficial if I ever made the move to hospitals. The older I get the harder it will be to get it. LSUS has an affordable online program that I have been interested in for some time. Think it is worth it for me to do it?
13
Posted on 3/8/23 at 12:45 pm to tigerbait17
My wife has MHA in addition to accounting degree and CPA. Much opportunity. Started a consulting business 20 years ago. Retired last year. Still printing $$$
Posted on 3/8/23 at 12:57 pm to tigerbait17
From what I've seen it's good to get when the Masters is essentially required for a specific job you already know you want and are otherwise qualified for.
Posted on 3/8/23 at 2:39 pm to tigerbait17
Worth it? Baw please do it. The world is hurting for more clipboard holders
Posted on 3/8/23 at 4:15 pm to tigerbait17
I have been asked to get mine a couple of times, work would pay for it but I am pretty sick of school right now.
Posted on 3/8/23 at 8:11 pm to tigerbait17
Since we spend twice as much as any other developed country on healthcare, it's a very lucrative degree.
Posted on 3/8/23 at 9:22 pm to tigerbait17
In some areas they are a dime a dozen. 22-23yo and fresh out of college.
IMHO, The only time it’s really worth it is when it is the only thing between you and a guaranteed promotion. If your employer hasn’t suggested it or offered to pay for you to go to a program they don’t see you moving up within the organization. It would be solely for your own personal enrichment.
The MHA degree is typically a check the box exercise for someone looking to jump from Management and into Senior Leadership.
If convinced you are going to stay in healthcare it’s a solid choice. Otherwise; I’d do the MBA.
IMHO, The only time it’s really worth it is when it is the only thing between you and a guaranteed promotion. If your employer hasn’t suggested it or offered to pay for you to go to a program they don’t see you moving up within the organization. It would be solely for your own personal enrichment.
The MHA degree is typically a check the box exercise for someone looking to jump from Management and into Senior Leadership.
If convinced you are going to stay in healthcare it’s a solid choice. Otherwise; I’d do the MBA.
Posted on 3/8/23 at 9:38 pm to MikeyFL
Look at 990 forms for hosptials. Admin makes bank.
Posted on 3/9/23 at 2:30 am to tigerbait17
But at the end of the day, you’re still a hospital administrator. Might as well be a trial lawyer or work for the IRS.
Posted on 3/9/23 at 5:53 am to GeauxTigers123
Sounds like a job that can either be consolidated or disrupted by chatGPT
Posted on 3/9/23 at 2:45 pm to tigerbait17
I’m also a Nursing Home Administrator and completed an MHA just after finishing my AIT and starting my current career. I live in a rural area in WV and there is only one critical access hospital, so for me the opportunities have been limited.
It’s also not easy to get a C-Suite job at a hospital IMO, even with healthcare executive experience. An MHA is almost expected, but probably won’t outperform someone applying with hospital management experience.
If you live in an area with multiple tertiary hospitals, an MHA would be very helpful. It would depend on what position you are shooting for, but a lot of hospital presidents and high level executives started as project managers, quality managers, or financial analysts. They usually then work up to a COO or VP type of position.
I have seen some former NHAs jump straight into high level hospital executive jobs, but I don’t think it’s easy.
It’s also not easy to get a C-Suite job at a hospital IMO, even with healthcare executive experience. An MHA is almost expected, but probably won’t outperform someone applying with hospital management experience.
If you live in an area with multiple tertiary hospitals, an MHA would be very helpful. It would depend on what position you are shooting for, but a lot of hospital presidents and high level executives started as project managers, quality managers, or financial analysts. They usually then work up to a COO or VP type of position.
I have seen some former NHAs jump straight into high level hospital executive jobs, but I don’t think it’s easy.
Posted on 3/9/23 at 5:46 pm to tigerbait17
A lot of hospital CEO’s come from the CFO and CNO ranks. If you want that job, a Masters is necessary. I was a hospital CFO, but didn’t really want to be the CEO.
Posted on 3/9/23 at 7:06 pm to tigerbait17
My 1st cousin went that route and he is doing very well for himself. He’s in his late 30’s and is CEO of a large hospital in south Florida. He has moved around the country a good bit but seems to be settled in that area.
This post was edited on 3/10/23 at 7:16 am
Posted on 3/9/23 at 8:11 pm to armsdealer
quote:
I have been asked to get mine a couple of times, work would pay for it but I am pretty sick of school right now.
I think you are missing an opportunity. Rest assured, another will present itself but this sounds like a no brained.
Posted on 3/9/23 at 9:31 pm to pdubya76
What is “very well”? $150k-$200k? $250-$350k?
Posted on 3/10/23 at 6:42 am to LChama
I never asked him but I’d imagine it’s a big number being a CEO of a large hospital.
Posted on 3/10/23 at 7:02 am to pdubya76
If they are non profit just look at the 990 form and it will tell you.
Posted on 3/10/23 at 9:18 am to tigerbait17
Most big hospitals require some type of advanced degree to move into management. I have several friends in Houston area hospitals who are executives and they all have an MHA.
I think typically once you've done the fellowship portion of the program, the place you did your fellowship will find a spot for you or even create a position.
I think typically once you've done the fellowship portion of the program, the place you did your fellowship will find a spot for you or even create a position.
Posted on 3/10/23 at 9:28 am to LChama
"Average" Hospital CEO pay is around $200K. I suspect Florida is about on the average. New York, CA, AZ and others will be higher.
Posted on 3/10/23 at 9:33 am to ynlvr
From Health Affairs article "The Current State Of Nonprofit Hospital CEO Compensation
In the world of nonprofit pay scales for executives, hospitals are outliers. A 2021 report from the Economic Research Institute (ERI) found that the average annual CEO pay in most nonprofit industries was between $100,000 and $200,000 in 2018. The two exceptions were university CEOs, who were paid an average of $350,000, and hospital CEOs, who were paid on average $600,000. But the average belies the true dimensions of executive salaries in health care systems."
Health Affairs Non Profit Hospitals CEO Comp
In the world of nonprofit pay scales for executives, hospitals are outliers. A 2021 report from the Economic Research Institute (ERI) found that the average annual CEO pay in most nonprofit industries was between $100,000 and $200,000 in 2018. The two exceptions were university CEOs, who were paid an average of $350,000, and hospital CEOs, who were paid on average $600,000. But the average belies the true dimensions of executive salaries in health care systems."
Health Affairs Non Profit Hospitals CEO Comp
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