Career in Management for Doctors & Medical Graduates
MBA after MBBS is a popular career choice nowadays as it offers non-traditional career opportunities for doctors and medical graduates. If you wish to know more about the hospital management,dig deep into the business and make a career in it, then MBA is the best option for you. There are many MBA specialisations for medical students in India. Read all about career in management for doctors and medical graduate below, including MBA specialisations, job roles and average salary.
Also Read: MBA after MBBS: Salary, Scope, Benefits, top Specialisations, Top MBA Colleges
Why Choose MBA after Medicine
A post-graduation course in management can open a plethora of career opportunities for doctors and medical graduates which are exciting and better paid. Pursuing a career in management would mean that it will allow the students to gain a better understanding of the hospital management, treatment processes and at the same time give them the opportunity to be unique and stand-out from the crowd. MBA graduates are among the preferred employees for administrative and managerial roles and have an upper hand in the healthcare industry.
MBA after MBBS or any other medical degree will also help you to run a hospital or healthcare institute of your own. You can manage the operations of the institution.
MBA Specialisations for Medical Graduates and Doctors
- MBA in Healthcare Management (MHM): Medical students or doctors can opt for MBA in Healthcare Management if they wish to be connected to their field of medicine and at the same time see themselves at the top managerial positions in prestigious healthcare institutes and hospitals. MBA in Healthcare Management is a perfect choice for students who have good communication skills and an excellent knowledge of the healthcare industry. Students are taught about various aspects of the industry and hired at senior level positions.
Also Read: Top MBA/PGDM in Healthcare and Hospital Colleges in India
- MBA in Health Administration (MHA): MBA in Health Administration or MHA provides the students the required knowledge of the working of the healthcare industry for higher level job positions in a firm. They are trained to be planners of health services and sectors. The program imparts the knowledge about public health, structure, organization, health care systems, etc. Prestigious colleges like Tata Institute of Social Sciences, Apollo Institute of Hospital Management & allied sciences provide admission to MHA.
- MBA in Medical Management (MMM): This program is ideal for physicians who are looking for a career in management. The MMM graduates are taught about leadership and management. The physicians who wish to purse MMM must have five years of experience in the healthcare system.
Also Read: MBA Specialisation Guide
Careers in Management for Doctors and Medical Graduates
There are a plenty of career opportunities for doctors and medical graduates in management. An MBA degree will fetch you rewarding career options. You can be an entrepreneur or a consultant or a manager in the hospital. We have discussed below, some of the jobs that a medical graduate can do after pursuing MBA.
- Hospital CEO: Being a hospital CEO will give responsibility of entire operation and management of the hospital or a healthcare organization. Hospital CEOs look after the overall working of the institution and make sure that the organization works in the most effective and efficient manner.
- Hospital CFO: A hospital CFO is responsible for the financial matters of the hospital. They are expected to make sure that the hospital or the healthcare firm runs in a cost-efficient manner. He/she must manage all the financial risks for the hospital. In simple words, they look after all the matters concerning the finances.
- Hospital Administrator: Hospital Administrators are responsible for the smooth functioning of the whole organization. They plan, organize, direct and monitor the functioning and outcomes of the services of a particular firm. Their responsibilities also include hiring doctors, looking after delivery of patient services, forming budgets, etc. They draw an average salary of Rs 5.5 lakh to Rs 6 lakhs per annum.
Other Career Options in Management for Doctors and Medical Graduates
There are many career paths that a MBA graduate with a medical background can opt for. Listed below are a few more along with their average salaries.
| Job Profile |
Average Salary (in Rs P.A)* |
|---|---|
| Hospital CEO |
35 lakh- 9 Crore |
| Hospital CFO |
15 lakh- 34 lakh |
| Administrator |
5.5 lakh- 6 lakh |
| Health director |
7.5 lakh- 8 lakh |
| Healthcare Planner |
5.8 lakh |
| Hospital Manager |
4 lakh-5.5 lakh |
| Healthcare Actuary |
8 lakh-20 lakh |
*Salary data is taken from payscale.com
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With over 7 years of editorial experience, Saumya has been a writer at Shiksha for over four years. With a bachelor's degree in English literature from Delhi University, she loves to write. A true Delhiite and her l... Read Full Bio