If you are in healthcare and about to pursue your Master’s degree, then you might be confused about choosing between an MBA and an MHA. Or, maybe you want to know a bit more about what these two degrees offer and how they can help you in your career and earning potential. 

Read on to learn more about the differences between MBA and MHA so that you can make an informed decision about your Master’s degree.

College lecture hall with professor and students

The MBA Degree

The famous MBA is a business administration degree that provides you with the practical and theoretical training that you need to better understand the general functions of business, especially business management. With an MBA, you can have a specialization in the following:

You get the point: the MBA is a general business degree, and within this business degree, you can have a specialization.

The MHA Degree

Now, the MHA is also a business degree, but it has a leadership aspect to it. As a graduate of MHA, you are essentially very abreast of the practical and theoretical aspects of running healthcare entities, as healthcare is a business. The healthcare industry is a business, and as a doctor or nurse, you are in the business of serving patients at their greatest point of need.

This aspect indicates that patients are consumers, and without them, the business does not run. Also, vice versa. If consumers don’t have access to the healthcare system, then they don’t have a place to get their healthcare needs met. 

You get the point: the MHA is certainly a business degree, but this degree is more of a specialization type of business degree. With your MHA, you can learn how to manage individual or organizational finances. You can also learn how to handle budgets and understand human resources, staffing, and the operational side of the healthcare industry. 

Similarities Among the Degrees

When it comes to making a decision between MHA vs. MBA, you might want to understand some of the similarities between both degrees first. With the MBA and MHA, you take similar courses that overlap with each other. For instance, if you choose an MBA program and specialize in healthcare management. On the other hand, if you opt for an MHA, you will take courses in operations and management. 

You will also take courses in finance, accounting, and marketing, which are pretty standard from degree to degree. Also, with your Master’s degree, whether it is an MHA or MBA, you can increase your salary. Ideally, more education should also help you negotiate and command higher increases in your salary. 

Enroll in the University of Phoenix for Your Preferred Degree 

Now that you know about what both Master’s degrees offer, we recommend that you enroll in a well-reputed university, such as the University of Phoenix, for your preferred degree. Your decision should ideally align with your career goals. With an MBA, you will learn effective business and managerial skills, whereas an MHA is a better option if you want to advance up the chain of command in your healthcare organization, whether you are a nurse or a physician.