An MBA/MHA dual degree program equips students with the skills needed for leadership roles in both business and healthcare. Graduates can pursue positions within the healthcare industry, such as healthcare executives, financial managers, and strategic planners.
According to the Bureau of Labor Statistics, medical and health services managers earn a median salary of $110,680 annually, while financial managers earn about $156,100. MBA/MHA programs typically take about two to three years to complete and are designed to fast-track students into high-demand fields quickly. The average cost of a master’s program, according to the National Center for Education Statistics, ranges between roughly $12,500 and $30,000 but can vary significantly depending on the institution and whether the program is online or in-person.
How to Choose an MBA/MHA Dual Degree Program
Choose your area of study
Choosing your area of study is a crucial first step in pursuing an MBA/MHA dual degree. This decision shapes your career path and influences the skills and knowledge you will acquire. Start by identifying your career goals and interests, whether they lie in business management, healthcare administration, or a combination of both. Research the specific curricula of programs to ensure they align with your professional aspirations. Consider the faculty expertise, available resources, and networking opportunities that each potential program offers. Understand how the dual degree integrates the disciplines and the potential for interdisciplinary learning.
Research schools and programs
Begin by compiling a list of accredited programs that offer this dual degree. Look into each school’s curriculum, faculty qualifications, and resources such as libraries, career services, and internship opportunities. Evaluate program formats, including online, in-person, and hybrid options, to see which suits your schedule and learning style. Investigate the school’s reputation and alumni network, as these can impact job prospects and professional connections. Consider tuition and other costs associated with the program to ensure it will fit into your budget. Also, review admission requirements, costs, and financial aid options.
Prepare for tests and applications
Start by reviewing the requirements, such as the GMAT or GRE, which are often necessary for business and healthcare management programs. Schedule your test dates early to ensure you have ample time to study and retake the test if needed. Gather your academic transcripts, update your resume, and request letters of recommendation from professionals who can speak to your qualifications. Craft a compelling personal statement that highlights your goals and motivations. This comprehensive preparation ensures your application showcases your strengths and readiness for a rigorous dual degree program.
Select your program
Limit your final selection to programs with regional or national accreditation so you can be sure to choose a program that has met rigorous accreditation criteria. Research each program’s curriculum to ensure it offers the courses and specializations that align with your ambitions. Consider program length and delivery format — online, on-campus, or hybrid — to match your lifestyle and learning preferences. Review faculty credentials and the school’s reputation in both business and healthcare management. Look into the program’s networking opportunities, internships, and job placement rates.
Determine how you’ll pay for your degree
Start by exploring federal financial aid by completing the Free Application for Federal Student Aid (FAFSA). Research scholarships, grants, and fellowships specific to business and healthcare administration programs. Many schools offer assistantships or work-study opportunities that can offset costs. Additionally, consider employer tuition reimbursement programs if you’re currently employed. Understanding the total cost of attendance, including tuition, fees, and living expenses, will help you budget effectively.
Best 50 Accredited MBA/MHA Dual Degree Programs
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How we rank schools
This list features some of the best MBA/MHA dual degree programs at top colleges nationwide. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for postsecondary education.
We evaluated each school’s program on admission, retention, and graduation rates as well as tuition costs, faculty, reputation, and student resources. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
Next, we compared this comprehensive list of MBA/MHA dual degree programs to a list of aggregated college rankings from reputable publications like U.S. News & World Report, among others, to simplify a student’s college search. We pored through these rankings so students don’t have to.
What Can You Expect From an MBA/MHA Dual Degree Program?
An MBA/MHA dual degree program prepares students for leadership roles in both the business and healthcare sectors. Students can expect to learn advanced business management principles, including finance, marketing, and operations, along with specialized healthcare administration topics like healthcare policy and ethics. This combination equips graduates to handle complex challenges in healthcare organizations and hospitals.
Typically, the dual degree program takes about two to three years to complete, though accelerated options may shorten this timeframe. Students should be prepared for rigorous coursework and may need to fulfill requirements such as in-person labs or residencies to gain practical experience. The program often culminates in a capstone project or internship, providing real-world application of learned skills. Overall, this dual degree opens doors to executive-level positions, offering a comprehensive education that bridges the gap between business acumen and healthcare expertise.
Potential courses you’ll take in an MBA/MHA dual degree program
- Healthcare Financial Management. Covers financial principles and practices specific to healthcare organizations. Students learn about budgeting, financial reporting, and strategic financial planning, equipping them to make informed financial decisions in a healthcare setting.
- Healthcare Policy and Ethics. Students explore the legal, ethical, and policy issues in healthcare. The course examines healthcare regulations, patient rights, and moral dilemmas, preparing students to navigate complex ethical and policy challenges in their careers.
- Strategic Management. Focuses on strategic planning and decision-making in business. Students learn to develop and implement strategies to achieve goals and lead organizational change.
- Organizational Behavior in Healthcare. Students study the behavior of individuals and groups within healthcare organizations. The course covers topics such as leadership, team dynamics, and organizational culture, helping students to manage and lead effectively in a healthcare environment.
- Marketing for Healthcare Services. Delves into marketing principles tailored to the healthcare industry. Students learn about market research, consumer behavior, and strategic marketing planning, enabling them to effectively promote healthcare services and manage public relations.
MBA/MHA Dual Degree Program Frequently Asked Questions
How do I apply to an MBA/MHA dual degree program?
To apply to an MBA/MHA program, you typically need to submit an application along with official transcripts from all previous academic institutions. Many programs require standardized test scores like the GMAT or GRE, although some may offer waivers based on professional experience. Additionally, you’ll probably need to provide letters of recommendation, a resume, and a personal statement outlining your career goals and reasons for pursuing the dual degree. It’s a good idea to talk to an admissions counselor before applying to ensure you meet all specific requirements and deadlines and to gain insight into the program’s fit for your career objectives.
How much does an MBA/MHA dual degree cost?
The cost of an MBA/MHA dual degree varies widely depending on factors like the institution, program format, and location. On average, tuition for master’s programs ranges from about $12,500 at public institutions to $30,000 or more at private colleges and universities. However, it’s crucial to consider additional expenses beyond tuition, such as textbooks, accommodation, transportation, and potential lost income if attending full-time. Online programs may offer savings on commuting and accommodation but could still require technology fees or residency components, impacting overall expenses.
How long does it take to earn an MBA/MHA dual degree?
The time it takes to earn an MBA/MHA dual degree varies based on factors like enrollment status and program structure. Full-time students typically complete the program in two to three years, while part-time enrollment may extend it to four years or more. Online programs often offer flexibility or accelerated options but may still adhere to similar timelines. The total number of required credits also influences program length, with most dual degree programs comprising 30 to 60 credits. However, variations exist between institutions. Prospective students should consult program details for accurate estimations of completion time.