M.B.A. Healthcare Career Outcomes in Tennessee: Forging Paths to Professional Excellence

02/06/2024

Tennessee’s growing economy and status as a healthcare industry hub has led to high demand for patient care providers, administrators, leaders, and other health professionals. This vibrant market, along with the right preparation, brings many opportunities to advance your career.

Tennessee’s Expanding Economy: 2022-2023

Tennessee’s rapid economic expansion made it the second-fastest growing economy of any U.S. state in 2022, with an estimated output of $368.6 million. According to the Tennessee Department of Labor and Workforce Development’s most recent annual Economy Report, Tennessee has seen employment levels surpass those of the years before the pandemic. The state’s major metro areas—Chattanooga, Knoxville, Memphis, and Nashville—all grew in employment by 3 percent or more. This growth extended to workers as well: Median hourly wages grew for all major job groups.

Much of this growth may be attributed to the state’s established businesses—Tennessee’s status as the premier healthcare hub of the southeast stems back to 1968 and the founding of the Hospital Corporation of America—but outside investments were also a major factor. The state announced more than $10.2 billion in new business growth after landing major investments from Ford Motor Co. and LG Chem, per the Chattanooga Times Free Press.

Tennessee’s economy is booming, and the state is outperforming most of the nation. In 2022, Tennessee’s unemployment rate fell to 3.4 percent, well below the national average of 5.5 percent, according to the Department of Labor Report.

Tennessee’s Healthcare Job Market

In keeping with the state’s status, healthcare was one of Tennessee’s largest employment sectors in 2022. Nashville alone boasts more than 500 healthcare companies and more than 400 professional services firms.

A report from Middle Tennessee State University and the Nashville Healthcare Council determined that healthcare positions accounted for one in every 12 jobs in Nashville. The report suggests that will rise to one in every five jobs by 2030. Healthcare has the most significant long-term job outlook, with 489,592 jobs anticipated by 2030. In comparison, the manufacturing sector, second to healthcare in projected jobs, is only expected to have 373,881 jobs by that same year. Healthcare support positions are expected to add nearly 37,000 new jobs between 2020 and 2030.

The healthcare sector’s strength yields benefits beyond the industry. MTSU determined that every $1,000 spent on healthcare resulted in the following revenue:

• $151 for real estate
• $117 for the finance industry
• $85 for professional services
• $71 for administrative services
• $63 for wholesale trade
• $60 for retail trade
• $56 for the information field
• $50 for accommodation

Tennessee’s Need for Healthcare Talent

Despite the industry’s importance to the state, Tennessee lacks an adequate amount of healthcare professionals. Comparing the numbers of active resumes and industry job postings, the MTSU report found a severe lack of healthcare talent in the state, particularly at the managerial level. According to the report, there were 4,318 open positions for medical and health services managers in 2023, and only 355 applications—a supply gap of 3,963.

The Tennessee Commission on Aging and Disability expects the number of people age 60 and over to grow 300,000 in the next 10 years, making up 25 percent of the population by 2030. With this growing, aging populace, hospital administrators, healthcare consultants, medical financial analysts, and other business-focused healthcare professionals will need to expertly plan resources and staff to ensure healthcare systems can meet demand.

By earning a Flex M.B.A. with a Healthcare Management concentration from the Middle Tennessee State University Jennings A. Jones College of Business, you can gain the business and healthcare industry knowledge needed to advance your career in Tennessee’s lucrative market and help fill the state’s occupational gap. Nine out of 10 graduates say that earning an M.B.A. increased their employability, and a concentration helps you build the specific skills to launch into your desired industry upon graduation.

The Healthcare Management concentration prepares you for a variety of career opportunities, including healthcare consultant, medical practice administrator, pharmaceutical brand manager, and many others. Core courses cover healthcare and healthcare resources management, while electives give you the option to study:

• Health economics
• Healthcare marketing
• Healthcare and the law
• Strategic cost and control in healthcare
• Lean project management principles

With the option to take classes online or on campus, you can advance your career with the specialized courses and classroom structure that fits your needs.

About MTSU and Jones College of Business

Located in Murfreesboro, Tennessee, Middle Tennessee State University delivers a unique blend of world-class education, personal attention, and value to over 20,000 students. MTSU is the top choice for Tennessee transfer students, the biggest provider of graduates to the Greater Nashville-area economy, and the home of the state’s largest adult degree program. Princeton Review ranks MTSU among the 388 Best Colleges and one of the Best Regional Colleges in 2023. As the home of the Charlie and Hazel Daniels Veterans and Military Family Center and the state’s first VetSuccess On-Campus program, the University has a reputation for welcoming current and former service members.

MTSU’s Jennings A. Jones College of Business is among the top 1.5% business schools in the world with Association to Advance Collegiate Schools of Business (AACSB) accreditation in both accounting and business.

Our faculty of award-winning educators, researchers, and entrepreneurs provide students with cutting-edge education in management, finance, big-data tools, and business communication.