Prepare for Healthcare Management in the Digital Age
07/31/2024
The healthcare sector is always evolving — between legislative changes, such as the Affordable Care Act, and public health issues, like the COVID-19 pandemic, there is a lot to keep up with. Technological innovations can help professionals keep pace with emerging trends in the field, but new devices and software programs can’t solve complex problems on their own. The healthcare industry needs well-trained providers, administrators, and leaders to understand root issues and create tech-enabled plans that solve problems.
Given the demand for qualified workers across the healthcare field, the need for leaders is urgent. The hands-on training and critical thinking developed in advanced degree programs, like the Flex M.B.A. with a concentration in Healthcare Management at MTSU’s acclaimed Jones College of Business, prepares students to enter the healthcare profession with the technical and interpersonal skills they need to lead the field. In this article, we discuss key technological developments in healthcare and how a master’s degree with a concentration can prepare graduates for careers in the digital age.
It is predicted that 1.8 million new jobs will open in the healthcare industry between 2022-2032
Digital Healthcare Trends
Anyone who has used healthcare services in the last decade has likely noticed tremendous shifts in the delivery of services. From online appointment scheduling to digital health records, medical care has become increasingly tech-enabled. Some of the healthcare technology trends shaping the industry today include:
1. Big Data Analytics
Electronic health records, wearable medical devices, and digital imaging provide abundant data from which organizations derive actionable insights. Healthcare providers can leverage Big Data as a way of improving individual and population health through the four main types of data analysis:
- Descriptive analytics: Converts healthcare data into useful information for analyzing decisions, outcomes, and quality through reports and visualizations.
- Predictive analytics: Uses historical data to forecast future outcomes, predict patient responses, anticipate risks, and plan resources.
- Prescriptive analytics: Applies medical knowledge and data to support decision-making in drug prescriptions and treatment alternatives, aiding personalized and evidence-based medicine.
- Discovery analytics: Uncovers new medical inventions, such as drugs and treatments, using existing medical knowledge.
Data analytics in healthcare facilitates personalized medicine by pinpointing the most effective treatments for individual patients. By analyzing trends and patterns in this data, healthcare providers can enhance quality of life, minimize healthcare resource waste, and reduce overall healthcare costs.
2. Artificial Intelligence (AI) and Machine Learning (ML)
AI’s rapidly improving speed and accuracy is invaluable for healthcare providers; it can assist with medical image interpretation, accelerate disease diagnosis and prognosis, and even provide personalized treatment recommendations. TMachine learning models continually refine their predictions and recommendations based on new data, leading to more precise diagnoses and treatment plans.
Behind the scenes, AI-powered virtual assistants can perform basic administrative tasks, such as scheduling and patient communication, which ultimately streamlines operations and allows organizations to focus more on patient care.
3. Telemedicine
From 2019 to 2021, telemedicine use by physicians increased from 15.4% to 86.5% according to a report from the National Center for Health Statistics. Although most in-person operations have resumed after the initial waves of the pandemic, telemedicine remains a vital component of modern medical care. In fact, about 5.7% of adults in 2022 lacked reliable transportation, making telehealth access critical to their wellness.
Organizations seeking to keep pace with industry standards need to provide patients with a platform with robust security measures, including video encryption and Health Insurance Portability and Accountability Act (HIPAA)-compliant data storage.
4. Wearable Devices
Wearable devices enable continuous monitoring of patients’ health metrics, facilitating personalized care and proactive interventions. These devices include everyday items, like smartphones and fitness trackers, as well as medical-grade wearables, such as cardiac monitors and echocardiogram (ECG) monitors. By empowering patients to take an active role in managing their health, wearable devices promote preventive care and minimize unnecessary hospital visits.
Though wearables can lead to more accessible patient care, their effectiveness is limited by technical issues and privacy concerns, making support from healthcare professionals and user feedback critical. Future research should focus on overcoming these barriers, evaluating long-term effects, and ensuring that products keep pace with technological advancements.
5. Blockchain Technology
Blockchain technology is a decentralized ledger of data stored across a network of computers. Data, such as patient records and clinical trial information, stored on the blockchain is encrypted and only visible by authorized users, which minimizes breaches and other threats. Since it’s a standardized platform, blockchain also enables interoperability between healthcare systems of varying types and in disparate locations. Blockchain’s role in healthcare is constantly expanding, and the industry needs well-trained professionals to implement the technology properly.
Technology’s Impact on Healthcare Leadership
With technological innovations reshaping healthcare, digital fluency and strategic foresight have become indispensable qualities for healthcare management leaders. Professionals should understand how to leverage emerging technologies to enhance patient care, streamline operations, and boost organizational performance.
Interpersonal skills, such as communication, adaptability, and empathy, are also incredibly important for anyone working in healthcare. Leaders are tasked with assembling teams and fostering collaboration between clinicians, data scientists, engineers, and other stakeholders while improving the organization’s operations. An advanced degree in healthcare management can equip individuals with the critical thinking and technological understanding needed to thrive in these roles.
Careers With a Healthcare Management M.B.A.
An M.B.A. with a concentration in healthcare management is often the first step in a rewarding healthcare career. These programs teach advanced concepts in healthcare management, preparing graduates for leadership roles that often command higher salaries. Here are potential careers for specialized healthcare M.B.A. holders, their duties, and estimated salaries, according to Payscale.com:
Health Policy Analyst
Duties: Analyze healthcare policies, regulations, and legislation to assess their impact on healthcare organizations and recommend improvements. Collaborate with various stakeholders to develop and implement evidence-based policies that address the needs of diverse populations and promote health equity.
Health Informatics Specialist
Duties: Analyze healthcare data for insights and design clinical decision support systems. Maintain security of health information while promoting telehealth and remote monitoring. Provide education and training on healthcare IT systems.
Healthcare Administrator or Manager
Duties: Oversee the operations of healthcare facilities, including managing budgets and ensuring regulatory compliance. Implement and help maintain electronic health records systems. Hire, train, and schedule employees.
Healthcare Consultant
Duties: Provide strategic advice to healthcare organizations on improving efficiency, quality of care, and financial performance. Enable regulatory compliance. Work with government agencies, nonprofits, and advocacy groups to develop policies and advocate for legislative changes.
Program Director
Duties: Develop program objectives and strategies in alignment with the organization’s mission. Allocate human, financial, and physical resources to ensure programs’ success. Monitor data to track program performance and outcomes.
Director of Operations
Duties: Set the organization’s overall vision, mission, and strategic direction. Oversee the executive management team and provide support to department heads and other senior leaders in efforts to meet organizational objectives. Improve patient outcomes, ensure safety for patients and employees, and perform risk mitigation and compliance.
How Does an M.B.A. Prepare Graduates for Leadership Roles in Healthcare Management?
M.B.A. programs with a healthcare-focused curriculum instill a comprehensive blend of business acumen and health management expertise. Students develop familiarity with the marketing, operations, and strategic aspects of care delivery. Knowledge of healthcare systems, including care delivery models, current regulations and compliance standards, and how the health system functions with society enables these students to develop practices and interventions that improve overall population health.
Advanced degree programs that emphasize the importance of data-driven decision-making in healthcare management are particularly well-suited to advancing careers in the digital age. M.B.A. students learn how to collect, analyze, and interpret data to optimize patient health outcomes and the organization’s bottom line.
Besides technical understanding of business and medicine, M.B.A. programs help students develop the soft skills necessary for leadership. Faculty and peer relationships hone skills such as collaboration, communication, and dedication that are vital for inspiring teams, navigating change, and fostering innovation.
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.