When we think of nurses, we often associate them with caring for the unwell or injured, and this desire to help others is why many enter the profession. The initial nursing degrees focus largely on patient care to ensure that new nurses are fully prepared for this vital role.
However, like many other professions, there is considerable career progression available to nurses, and this can take them into many different nursing areas. Some might specialize in certain types of nursing or move into research rather than direct patient care, while others choose to become nurse educators, preparing the next generations of nurses. However, others become interested in shaping healthcare organizations and taking on leadership, management or administrative roles. For these nurses, earning an MBA can be an effective way to realize their dreams.
New Job Opportunities
Earning an MBA will open up a number of good job opportunities in the healthcare sector that might not otherwise be available to you as a nurse. Many of these roles come with competitive salaries, which means that time and money invested in training will pay off. Some of the roles you can pursue after completing an MBA include:
- Nurse manager, overseeing teams of nurses and other healthcare professionals.
- Nurse administrator, taking on a variety of managerial roles in a healthcare setting.
- Director of nursing, managing the care of all patients in the facility.
- Healthcare manager, supporting healthcare settings with the latest trends.
- Chief nursing officer/executive, a senior nursing supervisor at the C-suite level.
You might even reach other C-suite senior leadership and executive roles, such as the Chief Financial Officer (CFO), Chief Operating Officer (COO) or Chief Executive Officer (CEO), taking on responsibility for the major business and financial decisions of the healthcare facility.
Build on Existing Skills
There are many reasons a career change can be appealing. After working in a position for a while, you may want a new challenge or to experience something different. Others may have reached an age when the physical aspects of the profession are becoming too much, but they still want to remain in employment making a difference to patient care. In some cases, people may feel that working as a nurse directly in patient care simply isn’t for them.
At the same time, however, you may have invested considerable time and money in your nursing career and may not want to start over completely. By starting an MBA in healthcare with a view to moving into an administrative or managerial position, you will be building on your existing qualifications, skills and experience while still planning for an exciting new role. The knowledge you have acquired will enhance your ability to effectively carry out your new role.
Use Your Nursing Skills to Your Advantage
Not everyone who applies for healthcare business positions understands healthcare the way a nurse does. Those who have followed an alternative degree path may be highly proficient at the business aspects of healthcare management but unfamiliar with the caring aspects. However, a nurse who has an MBA has a high level of knowledge of both aspects. This is an advantage when applying for roles and something that is well worth emphasizing on job applications and in interviews.
Once you are in a management role, it will mean that you can bring a very different perspective to the decision-making process compared to someone who has no direct knowledge of patient care. Those who have been on the frontline of caring will see patients as people with individual needs. Without that first-hand knowledge, it’s all too easy to see them as simply a number. By bringing this unique knowledge, you can continue to make a positive difference to patients’ well-being, perhaps on a bigger scale than you have before as you help guide hospital policy.
Flexible Training Options
While many nurses are eager to achieve further qualifications, some worry about having to find the time to study on top of a busy work schedule and family commitments but are equally as concerned by the financial implications of reducing or stopping work while they study. Fortunately, course providers are well aware of this dilemma and are facilitating accessible study for working professionals.
A good example of this can be seen at Spring Arbor University, which offers an online MSN-MBA degree designed with working nurses in mind. Among the program benefits are the 7-1-7 model that provides a week off between seven-week courses, being able to take one course at a time with no set login times, an active faculty community and a dedicated Student Success Coach to help students maintain a healthy work, home and school life balance. With flexible, accessible training readily available, earning an MBA to advance your career becomes a realistic option.
A Better Understanding of Nursing
When qualifying as a registered nurse (RN), new nurses have a thorough understanding of patient care and that grows as they take up nursing positions. However, what they may not have acquired is a good knowledge of how a hospital or other healthcare setting acts as a business. This can lead to some frustration as they may not understand the driving forces behind some of the decisions of the finance officer or CEO.
By earning an MBA, nurses gain insight into the business side of healthcare, and this puts them in a good position to influence decisions. Even if a nurse intends to remain on the frontline of patient care, gaining this knowledge will help them practice more effectively with realistic aims for improvement.
Ultimately, a healthcare setting works best when staff learn to function as a team, avoiding the conflict that can easily arise between the business and caring sides of the establishment. By understanding how both the financial and the caring side of a clinical setting works, a nurse is in a good place to balance the needs of the hospital and its patients.
Develop Leadership Skills
Nurses are in increased demand, and that demand is likely to continue to grow as the medical profession gets to grips with an aging population. This means there are going to be more prospects for career progression, and an MBA is a qualification that will make you well placed to take advantage of those prospects.
In your MBA studies, you will hone leadership, management and decision-making skills that will enhance your employability, making you particularly well placed to aim for a nursing leader role. Part of a nursing leader’s job is to manage a budget. The knowledge you gain includes insurance reimbursements, cash flow and labor costs, all factors a nurse leader needs to consider to keep their nursing unit thriving.
Many nurses who wish to advance their careers into a nursing leader position opt for an MSN degree rather than an MBA. This is another effective qualification that will prepare you well for the role, but it does not have to be an either/or situation. You can gain both qualifications or opt for an MSN-MBA dual degree program. Either of these will render you highly qualified for a nursing leadership role and enable you to keep your career options open for business or finance positions at a healthcare facility.
Diverse Work Settings
Earning a nursing MBA can take you beyond the hospital if you want it to. Although there are many financial and managerial roles within the hospital, you could consider working in mental health institutions, human resources, long-term care facilities, outpatient clinics, nursing homes, insurance or pharmaceutical companies – the list of opportunities can seem endless! This can make it easier to find a position in your local area that fits in with your lifestyle for a better work-life balance.
Starting an MBA
With the availability of MBA courses that can fit around your employment, the financial hit of studying is not as high as those courses that require you to give up work for full-time study. If you choose an online course, you will not even have any commuting costs. This adds to the accessibility of the program. It’s worth looking at several different programs to see what they offer, and do not be afraid to ask questions.
The time taken to complete the program will vary depending on how much time you can devote to studying and the course content, but it could be as little as 18 months. With so many reasons to consider a nursing MBA, from competitive salaries to exciting new roles and the chance to influence decisions for the entire healthcare setting, there has never been a better time to get started. It could be the first step in an exciting new career direction.
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