MHA vs MBA w/ hc concentration

[daisies2]

I know there have been many discussions on various forums on which degree is "better." I have read up... Some of these discussions have often involved people in unique situatuons ( such as nurses or MDs entering hc administration.)
I am really curious about what people in this forum think about the two degrees,...and also what factors most influenced their decision to pursue either degree, or both as some are doing. So, if you are pursuing an MHA or MBA with a healthcare concentration, would you please share how you made the decision? Thanks!

Btw I'm currently only applying to MHA programs but I'm beginning to consider an MBA, and would like some insight.

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[LAD2013]

I was in the same kind of place as you about a year ago. I spoke with a some individuals who work in health care and the general consensus i've gotten is that the MBA has more value as there's a focus on finance that you just can't get in an MHA program. Also, if you are considering consulting, working for a pharma/device company, or anything that's not directly healthcare mgmt-related, an MBA just makes more sense. This is one reason I decided to apply to MBA-MHA dual degree programs but included a few MHAs as backups.

As a side note, there really aren't many business schools that offer health care focused MBAs. Also the student profile for an MBA cohort is significantly different from MHA cohorts. Most MBA programs require at least two years of full time work experience and the average age of MBA students tends to be in the upper twenties with closer to five years of work experience. Depending on your profile, this may impact which path you want to pursue. MBAs also tend to be significantly harder to get into.

Cost can also be a factor. A dual MBA-MHA program runs three years and costs an additional years tuition. However, you can also have two internships/practicums, which for someone without prior health care experience has some value. Some MHA programs (e.g. Hopkins) can be much cheaper because you get a tuition scholarship the second year and receive a salary for whatever organization you complete your residency in.

These are just a few of the things that impacted my thought process. Hope it helps!

 

[mrcoolthefool]

I'll chime in and give my 2 cents.

There is no doubt that an MBA is a more versatile degree. However, if you know you want to be in health care, then having an MHA will NOT put you at a disadvantage when compared to an MBA with health care focus. If you do some research, you will see that the majority of hospital execs carry an MHA.

Finally, I visited a handful of MHA programs and a lot of them told me that their class is usually divided with 50% of students choosing to take the consulting path and 50% going the administration route. I know for a fact that many Cornell students prefer to get into consulting with an MHA-and are successful at that. However, it could be because Cornell gives students the opportunity to take electives in any of the schools at Cornell U so someone interested in consulting might take electives that are heavily quantitative in nature.

Personally, I would've preferred a dual MHA/MBA but I just don't have the super stellar academic record or work experience to be admitted to the few programs that offer that type of thing....and I'm certainly not going to wait around to improve my record so I picked the MHA. I'm happy with my decision and I'm not worried about it at all.

Some food for thought...an MBA is pretty commonplace these days. Take that as you may...best of luck.