Healthcare Administration Degree vs Business Administration Degree

Healthcare Administration-Degree vs Business Administration Degree Cover
Santiago Mallea

Santiago Mallea

Content Writer At Gradehacker

So you are a student interested in pursuing a career in the healthcare field and want to be open to more opportunities. But now you’ve encountered a defining question, which career path will you follow?

You are now facing a decision to make and want to know the difference between a Healthcare Administration Degree vs.  Business Administration Degree

Maybe you like the idea of working in a healthcare setting but want to avoid dealing with patients and would instead work best managing the facility. Or perhaps you are not quite sure about a future in the healthcare field and want to be sure that the degree program you follow will offer you a wide range of job opportunities.

The truth is that with both administration programs, you can pursue a career in healthcare management, as the two cover similar topics of business management. Still, each comes with its own set of specifications and opportunities that every future healthcare administrator needs to consider.

Here at Gradehacker, we have helped students like you in both healthcare and business administration degrees. We know how they work, the courses they have, and where they can take you.

We want you to make an informed decision, and that’s why we have listed the main distinction between a Healthcare Administration Degree vs. a Business Administration Degree.

After reading this article, you will know which degree option will suit you best.

Healthcare Administration-Degree vs Business Administration Degree Group of healthcare students

To begin, we must know what each degree program is.

What Can You Do With a Healthcare Administration Degree?

You will administrate all of the aspects within a healthcare setting. Instead of taking care of patients, you’ll make sure that everything is working as it should.

Healthcare administrators can be in charge of a whole facility or a specific department and manage its budgets, records, and staff. They can run hospitals, clinics, physician’s offices, and any government agency that provides healthcare services.

Plus, students who follow a Master’s in Healthcare Administration will expand their expertise by focusing on specific needs and challenges unique to the healthcare industry.

What Can You Do With a Business Administration Degree?

You will be more prepared to manage facilities in private, public, and nonprofit organizations in different areas, such as healthcare, human resources, business industry, and more. You will gain a global understanding of how the business world works and develop the necessary skills in the working field you want.

Graduates who pursue a Master’s in Business Administration learn more about the general business processes and practices, which tend to have more career opportunities.

As a business management degree focuses more on building leadership and general business skills, it is a perfect choice for administration students interested in the healthcare management industry but who want to be prepared to work in other administrative areas.

How Are They Different?

So, the main difference is that with a Business Administration Degree, you gain more general management knowledge, while a Healthcare Administration Degree focuses on specific skills and challenges related to the healthcare field.

While you can specialize in healthcare management by finding a business program that offers that specialization, there are more differences throughout the learning experience that you should have in mind.

Healthcare Administration-Degree vs Business Administration Degree Female business administration student

Curriculum

First, let’s mention some of each educational program’s classes.

In a Healthcare Administration Program, you will find courses such as:

On the other hand, in a Business Administration Program, you will find:

However, in a business administration degree specializing in the healthcare field, you will also find some of the courses included in a Healthcare management program.

Cost

As with any other college program, how much each costs depends on the education facility and the levels of education.

According to GetEducated, undergraduate students pursuing a bachelor’s in healthcare administration degree pay an average tuition cost of $56,200, but in some cases it can cost over $100,000.

Regarding Master’s degrees, students can pay as much as $83,000. However, according to another study conducted by GetEducated, the average cost of a Healthcare degree is $27,200.

On the other hand, a bachelor’s in business administration has an annual cost of $33,896. And according to GetEducated,  the average cost of tuition for a master’s degree is $50,587, but it can be as much as $90,000.

Healthcare Administration-Degree vs Business Administration Degree Healthcare students studying

Career Options and Salary Outlook

Healthcare Administration Degree

If you are thinking about pursuing a healthcare administration degree, there will be a lot of work opportunities coming up. According to the Bureau of Labor Statistics, there will be a job growth of 18% for healthcare managers between 2018 and 2028.

Healthcare professionals with a Bachelor’s Degree can find jobs like:

Those with a Master’s in Health Administration can find jobs in healthcare management such as:

According to the Bureau of Labor Statistics, Medical and Health Services Managers have a median salary of $118,800. Almost three times what you would earn with only an associate’s degree.

Business Administration Degree

Similarly, pursuing a business management degree is also worth the investment.

With a Bachelor’s Degree in Business Administration, you can work as:

According to PayScale, graduates with a bachelor’s degree have an average annual salary of $66,000. While the Bureau of Labor Statistics reports that this amount is only around $6,000 more than people with just a high school diploma earn, the unemployment rate of associate degree graduates is below average, meaning they have more chances of finding jobs.

However, salary increases a lot for graduates with a Master’s in Business Administration.

U.S. News & World Report conducted a report and concluded that the average salary for MBA graduates was $101,034.

They also showed that the Average MBA Salary by Industry is:

Healthcare Administration-Degree vs Business Administration Degree Healthcare student

Which One Should You Choose?

So, which administration degree should you follow?

First, you need to know what you want for your future and what you like the most. Then, you only need to consider what each program has to offer.

Healthcare Administration Degree
Business Administration Degree

Focuses on Healthcare knowledge and skills

Focuses on general knowledge and leadership skills

Curriculum centered on healthcare systems, laws, and ethics

Curriculum centered on finances, project management, and business laws

Bachelor’s degree costs an average of $56,200 per year

Bachelor’s degree has an annual cost of $33,896

Master's Degree costs an average of $27,200

Master's Degree costs an average of $50,587

Career options are entirely related to the healthcare setting

Career options cover a wide range of industries

The average salary for an Associate Degree is around $36,000

The average salary for an Associate Degree is around $52,000

The average salary for a Master's Degree is $118,800

The average salary for a Master's Degree is $101,034

In summary, students pursuing a Healthcare Administration Degree will mainly focus on the business side of the healthcare industry. Organizational structures, laws, health policies, regulations, ethics, payment systems, and life and death issues.

On the contrary, those following a Business Administration Degree will gain more general knowledge in business development, financial analysis, and human resources management. They’ll be more prepared to work in many business environments, such as consulting, technology, healthcare, and media.

But don’t let this broader educational path make you think that a healthcare career is impossible with a business administration degree. Many colleges offer a specialization in health care management, which will be perfect if you want to open your knowledge range.

Maybe it won’t be as thorough as the education you would receive in a healthcare administration degree; however, it will undoubtedly give you the most crucial business skills and even open the doors to finding a similar management role in other fields.

Now you are ready to choose which administration degree is for you. Remember to always recognize your priorities and needs before choosing your ideal path. Once you get that covered, you’ll be sure whether a Healthcare Administration Degree or Business Degree will suit you best.

If, by the time you start the program, you feel that having extra help would be life-saving, don’t hesitate to contact the Gradehacker team to help you with your assignments! Essays, exams, and even your entire classes, we have your back!

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