For most people, a business degree and a job in the healthcare industry don’t necessarily go together. The truth, however, is that there are numerous jobs in healthcare that you can enter with a business degree.
Even though the heart of it is dealing with patients and saving lives, every healthcare organization will have to manage their finances and incorporate a lot of business-related duties into their day-to-day activities.
And that is where business-oriented employees come in.
Below, we look at some of the best healthcare positions that suit several business degrees. Firstly, however, here are the exact business degrees that are most done for a job in the healthcare industry.
Business Degrees Most Suited for a Job in Healthcare
The two kinds of degrees most suitable for a job in healthcare are the Bachelor of Business Administration (BBA) degree and the Master of Business Administration (MBA) degree.
Bachelor of Business Administration
To obtain a Bachelor of Business Administration (BBA) degree, candidates must learn general business skills, including finance, accounting, economics, and management.
A BBA degree is enough to secure employment in most healthcare organizations for fields that require 4 years of study. As for the specific BBA programs to enroll in, candidates often focus on healthcare management and administration.
Master of Business Administration
The Master of Business Administration (MBA) degree takes 2 years to complete and incorporates elements of decision-making that candidates will invariably need to become business executives.
The choice of which to go for between a BBA and an MBA is often a question of the job description in mind. As we’ll see below, some jobs require an MBA, while a BBA is enough for some.
Roles for Business Degree Holders in Healthcare
The following are some of the most notable roles for holders of business degrees in healthcare.
Healthcare Services Management
Healthcare service managers are professionals in charge of overseeing groups of clinicians. They coordinate the activities of the patient aspect of healthcare with the business aspect.
They do so through planning, coordination, and directing the intersectional activities of both categories. Healthcare service managers earn an annual average salary of $104,830 for their efforts.
A bachelor’s degree is required as the minimum educational credential, while a master’s degree is acceptable. The Bureau of Labor Statistics projects a 28.3% growth in demand for the field between 2021 and 2031.
Human Resource Generalist
Human resource generalists in healthcare are responsible for coordinating and supporting the staff of an organization. Usually, they will have to develop a structure to ensure that workers are well-trained and can perform optimally within the work environment. They are also charged with monitoring performance and employee development.
Human resource generalists in healthcare earn an annual average salary of $130,000. According to the Bureau of Labor Statistics projection, demand for human resource generalists is set to grow by 7.3% between 2021 and 2031.
A bachelor’s or master’s degree is enough to secure the position.
The day-to-day activities of a program coordinator usually center around developing and overseeing numerous projects for healthcare organizations. These programs include funding, equipment installation, and more.
It is also their job to assign duties to staff involved in the project and ensure quality results. They earn an annual average salary of $35,133.
Payroll specialists’ primary duties involve ensuring employees are accurately compensated for their efforts. To do this, they often have to carry out different tasks, such as overseeing time-tracking systems, issuing paychecks, and coordinating with human resources.
They are also there to help with tax forms and pay stubs.
Payroll specialists earn an annual average salary of $35,001.
If you explore the career of a medical biller or a billing and coding specialist, he is a healthcare professional whose primary duty involves submitting healthcare claims to insurance companies. They also assess the price of healthcare services and ensure that everyone gets their proper payment.
As a medical biller, you will likely be working closely with medical coders responsible for assigning codes that fit with standard classification systems.
The annual average salary for a medical biller is $31,647.
Recruiting coordinators are professionals hired to attract candidates and encourage them to work for a particular organization. Their day-to-day tasks usually include making job listings, organizing job fairs, and reviewing resumes and cover letters.
Ultimately, they may also be responsible for carrying out interviews. They earn an annual average salary of $40,114.
Sometimes referred to as clerks, secretaries, or receptionists, administrative assistants usually check in visitors, answer phone calls, and ensure visitors are appropriately directed to specific rooms and offices in a healthcare organization.
Administrative assistants are everywhere in healthcare, from clinics to facilities and physicians’ offices. For their efforts, they earn an annual average salary of $45,022.
As the name implies, a quality specialist is a professional whose primary duties involve conducting quality assurance audits and ensuring that a medical organization offers high-quality services.
To do their jobs at the highest level, quality specialists must conduct research and analyze data to get a clearer picture of how the organization is doing in areas such as health outcomes and patient satisfaction.
Quality specialists in healthcare earn an annual average salary of $54,751.
Pharmaceutical Sales Rep
Pharmaceutical sales representatives educate physicians and healthcare workers about a pharmaceutical company’s products. They are responsible for making sure that the right people know about their new medicines so that they can be prescribed to the general public.
Pharmaceutical sales representatives earn a national average salary of $65,350, but making almost twice as much with more experience is possible.
Their role is different from the role and responsibilities of pharmacy technicians.
Business analysts are needed in healthcare to analyze organizational data to improve the overall business process for their organization.
For instance, business analysts are often tasked with reviewing clinical outcomes, resource management, or enrollment data to determine how these things can be optimized.
They typically earn a national average salary of $74,506.