Do you know what industry is projected to become the fastest growing through 2022? You might guess the oil industry, which, until recently, was growing so fast thanks to discoveries in South Dakota and advanced shale oil extraction. Or, how about construction? With the housing market rapidly recovering from the 2008 recession, new housing construction has rapidly accelerated. Both of those would be great guesses, but the fastest growing industry is health care. According to figures from the U.S. Bureau of Labor Statistics, the growth of health care from 2012 through the next seven years will be staggering.
- The health care and social assistance sectors are anticipated to add five million jobs during the decade outlined in the research – a third of all the jobs expected to be created during the period!
- Health care support occupations are expected to grow by 28.1% during the same period, with health care practitioners and technical occupations expected to rise by 21.5%.
- The total number of jobs anticipated to be available in the health care and social service industries will be 21,965,900.
What’s driving the growth in health care?
In large part the growth in health care is due to an aging population, bringing with it the need for increased health care services. It’s also worth remembering that the increases shown in the previous paragraph are over-and-above the number of existing positions that need to be replaced as that same aging population retires. The Spring Arbor University online MBA in Health Care Administration positions graduates perfectly to benefit from the increase in opportunities within the health care industry. The program focuses on the trends and specialized requirements needed to succeed in the competitive health care business environment. Graduates can expect to learn about health care administration, policy, economics and strategies within this fast-moving industry. The concentration also gives in-depth learning in the specific topics of contemporary issues in health care management, health care finance, quality in health care, and strategic planning and management. Together, these courses provide a well-rounded insight, the business acumen, and all the tools a health care administrator needs to succeed. The above is in addition to the core curriculum of an MBA, which gives students a complete grounding in micro- and macro-economics, marketing, finance, international business and other key learnings to give a graduate a hands-on and practical knowledge needed to confidently face issues and business requirements. It’s also worth mentioning that there is plenty of evidence that an MBA in itself offers improved salary (Financial Times; Forbes). In addition, an increased number of employers are voicing their intention to hire MBA graduates (The Economic Times) with no indication that the trend will not continue over the coming years. To improve your chances of expanding your health care career, look no further than the Spring Arbor University MBA in Health Care Administration.