Best Healthcare Master's Degrees: Which Is Right For Your Career?

Whether you're aiming for a leadership position, looking to specialize or intending to change your career trajectory, a master’s degree in healthcare can open doors to numerous opportunities. Couple this with the knowledge that the demand for skilled professionals is high, and it really becomes a recipe for professional success.

According to Lightcast, jobs in healthcare administration are expected to increase by 20% through 2032. This aligns with information from the U.S. Bureau of Labor Statistics (BLS), which projects about 1.8 million openings each year, on average, in healthcare occupations due to employment growth and the need to replace workers who leave the occupations permanently.

While the numbers are promising, it makes it that much more important to understand the differences between the types of healthcare master's degrees available. That way, you can choose the program that best aligns with your career goals.

Types of Healthcare Master's Degrees

As noted by Dr. Leslie Mathew, chair of the Master of Healthcare Administration and MBA-Healthcare programs at Franklin University, healthcare master’s degrees are valuable in the healthcare industry.

“Advanced degrees are in demand due to the evolving healthcare landscape, increased focus on public health, quality of care and the need for technology integration,” he said.

However, there are several types of healthcare master's degrees to be aware of, each tailored to address specific areas within the healthcare sector. With this in mind, here’s a comprehensive overview of the top programs you might consider if you’re looking to pursue a healthcare career.
 

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Master of Healthcare Administration (MHA)

Dr. Mathew explains that the Master of Healthcare Administration (MHA) focuses on management and administration within healthcare organizations, including leadership, policy and business aspects. It’s a degree tailored for those looking to gain expertise in administering and managing healthcare facilities like hospitals, clinics and public health systems. 

If that's you, this degree will provide essential knowledge in health policy, health services administration, economics and process improvement.
Specializations within the MHA can include human resources (HR), global health management, quality and safety, organizational leadership, finance and operational excellence, while career paths for MHA graduates often lead to roles such as hospital administrator, healthcare consultant and policy analyst.

Bonus Resource: Learn more about MHA degrees and available specializations!

Master of Public Health (MPH)

The Master of Public Health (MPH) focuses on the broader aspects of health and wellness, often centered around community health, epidemiology and global health. This degree prepares you to design and implement health improvement programs and policies crucial for addressing public health challenges and improving health outcomes on a larger scale.

Common career paths for MPH graduates include state air quality specialists, managers of public allied health education programs, community health workers and international health educators.

Master’s in Health Informatics 

As healthcare becomes increasingly digitized, the Master’s in Health Informatics designation has grown in importance and popularity. 

Dr. Mathew says that this master’s centers on managing healthcare information systems, data analysis and technology in healthcare. Therefore, if you're a healthcare professional holding this degree, you'll likely aim to bridge the gap between healthcare and information technology via managing healthcare data.

As a graduate, you can pursue careers such as health informatics specialists, clinical data analysts, financial management coordinators or health information managers.

Master of Health Science (MSc)

The Master of Health Science (MSc) focuses on research-based education in health sciences fields such as epidemiology, biostatistics and/or health services research. This master's degree program is ideal for advancing your knowledge in specific health science areas or preparing for careers in research or academia.

MSc graduates tend to pursue careers as research scientists, epidemiologists, health education specialists, professors of health studies and much more.

Master of Business Administration (MBA) in Healthcare

An MBA with a Specialization in Healthcare combines traditional business administration coursework with a particular focus on healthcare-specific challenges and opportunities. 

According to Dr. Mathew, it’s particularly valuable if you're aiming to work at the intersection of business and healthcare, as you’ll gain skills in business administration, financial analysis, strategic planning and organizational leadership.

This degree may be suitable if you're interested in the financial, operational and strategic aspects of health management or if you're looking to pursue career avenues such as healthcare financial manager, strategy consultant or health administration specialist.

Choosing the Right Healthcare Master's Degree

One size does not fit all when it comes to healthcare master's degrees, so selecting the right one is key. According to Dr. Mathew, you should consider the following as you look toward your future healthcare career:

• Career Aspirations. Different degrees align with various career paths. For example, an MPH might be the best fit if you aim to work in community health, whereas an MHA may be more suitable for hospital management roles.
• Salary. Average salary ranges for healthcare professionals can vary significantly. For example, according to Lightcast, the median annual salary for an epidemiologist holding an MPH is $81,216. In contrast, the average yearly pay for a medical administrative service manager with an MHA is $106,350. Healthcare positions and their required degrees will garner different salaries, so doing your research is key.
• Job Growth. Understanding which areas of the healthcare profession are expanding can help you make an informed decision as you look toward a master's degree. The BLS offers a comprehensive occupational handbook for healthcare occupations across the U.S., which can be helpful for understanding anticipated job growth.

• Specializations. Specific areas of focus within each degree can enhance job prospects. For instance, an MHA with a Specialization in Organizational Leadership can position you for success when applying for administrative leadership positions, while a specialized healthcare MBA is often attractive for health organizations looking for health services managers.
• Location. The desirability of certain degrees may vary by region. For example, urban centers with large hospital networks may offer more opportunities for master's graduates looking to take on high-level health management positions.
• Accreditation and Reputation. Ensure the program you're entering into is reputable and industry-approved. Accreditation by recognized bodies, such as the Council on Education for Public Health (CEPH), American Health Information Management Association (AHIMA) and/or the Commission on Accreditation of Healthcare Management Education (CAHME), adds credibility and may be a requirement for certain roles.
   

Which Program is Most Valued in the Healthcare Industry?

Healthcare systems are wide and varied, meaning that different master's programs can be more valuable in certain branches. Each master’s program has unique strengths and focuses, making some more desirable than others in specific career contexts.

For example, a Master of Health Administration is ideal for hospital management and healthcare policy roles, providing the skills needed for effective organizational leadership. An M.S. in Health Informatics, on the other hand, may be more suitable for roles in healthcare IT and medical data analysis, where the integration of healthcare and technology is key.

With this in mind, no one master's program in healthcare is above the other. Instead, the value is driven by your personal interest, professional desires and career and salary goals.

 
Explore Franklin University's MHA Program

Investing in a healthcare master's degree can open new doors and provide you with the skills needed to make a meaningful impact in healthcare. However, choosing the right healthcare master’s degree is a crucial decision that can significantly impact your career trajectory.

Whether it’s the MHA, M.S. in Health Informatics, MSN or MBA in Healthcare, each degree offers unique benefits and aligns with different career goals.

Franklin University's MHA program offers a comprehensive curriculum and hands-on learning experiences that can help you achieve your career aspirations.

If you’re ready to take the next step in your healthcare career, apply today or get more info.

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