We often see paramedic staff, doctors, and janitors do all the work in a hospital. Other than that, we also see receptionists fulfilling their duties. Since, we often don’t see other professionals in a hospital, many of us don’t know what opportunities a hospital holds for business graduates.
Business jobs are more abundant in healthcare than visible. If you’re a business graduate, you can pave your career in the healthcare industry. If you’re appointed in the healthcare industry, you get healthcare benefits that you probably wouldn’t get working in the corporate sector. Also, if you have had a lifelong dream of working as a lifesaver, you can do that as a business grad as well.
Here are some of the work opportunities you get in the healthcare industry as a business graduate.
1. Hospital Management
If you want to step into a management role in a hospital, here are some responsibilities you may have to handle:
- Managing the schedules of the paramedic staff and doctors.
- Overlooking communication within the hospital.
- Managing contracts with third parties, including the pharmacy, suppliers, and service providers.
- Ensuring that care is delivered efficiently.
- Managing in-patient and out-patient records.
A manager in the hospital is much like a manager elsewhere. The only difference is that the organization is a hospital and not a corporation.
However, you stand a better chance at securing a position in hospital management if you familiarize yourself with healthcare operations. In that case, the best option is to get a formal degree. For this, you can combine your undergraduate business degree with a public health degree. A great option is to pursue online Masters in Public Health with a concentration in your area of interest to equip yourself with the relevant skillset.
2. Healthcare Marketing
If you have majored in marketing, you could even take up the role of a marketeer in a healthcare setup. Private hospitals need marketing to two segments. The first is doctors, and the second is healthcare customers. You need to attract the best doctors to improve the services of the hospital. You will be working with the HR department on this project. So, if you have taken up HR electives in your undergraduate degree, you can do well in this role.
Second, hospitals have two kinds of customers, insurance companies as well as private patients. Insurance companies partner with healthcare providers who give them the best packages. Partnering with an insurance provider with a lot of business clients can help get the hospital the clients they need to earn profits.
3. Financial Management
If you’re interested in financial management, a healthcare organization like a hospital can provide you with such opportunities. With strong numerical skills, you can assess where to allocate budgets and where to make cuts to help run the organization smoothly. You can even become involved in making decisions for new machinery, new onboards, and expansion plans.
If you are a financial manager in a hospital or anywhere else, it is important that you have business communication skills. With these skills, you can become a core part of the strategic team in the organization. If your dream is to become a CFO of an organization and play your part in the betterment of society, a career in the healthcare industry is a good choice for you.
4. Pharmaceutical Sales Representative
If you’re good at communication and marketing, you could become a pharmaceutical sales representative. These professionals earn over $72,244 per year. Many people who are cut out for the job can make even more if they exceed the sales quota they are allotted.
If you want to make a career as a sales rep of a pharmaceutical company, you might as well pursue a science degree or diploma that helps you to learn about medicinal products in a better way. You can even pick this career stream if you have a bachelor's degree in pharmacy and an MBA.
5. Medical Equipment Sales Representative
If you want to associate yourself with the healthcare industry, you don’t only have to work in a hospital. You can even go on to become a medical equipment sales rep for a company that manufactures medical equipment. You could be selling small equipment like that used in surgical procedures. Or you could even sell large medical equipment internationally.
If you have a biomedical degree, you know about the machines that are required by hospitals and nursing homes. You can get a Master’s degree to equip yourself with marketing knowledge before you delve into the industry and make it big. If you’re working for a company that provides medical supplies and machinery internationally, you will get a chance to tour the world while you’re on the job.
6. Human Resource Specialist
If you’ve majored in HR during your business degree, you can get employed as an HR specialist in the healthcare industry, including nursing homes, hospitals, and even private clinics. Because HR specialist is the one with the business mind, they are the ones sourcing candidates for a position which is followed by a technical interview with people in the concerned department.
For example, an HR specialist might work on attracting the best candidates, select from a large pool, and then shortlist a few for the final technical rounds. You might also be looking at international candidates if the healthcare facility that you work for allows hiring from abroad. From a business perspective, someone with a degree specializing in HR could work in the healthcare setting, but if they are aware of hospital management, they have a better chance of landing roles in good healthcare facilities.
Final Words
Business jobs are more abundant in healthcare than we can see. This article outlines some of the career choices you have in the healthcare industry as a business graduate. You have a high chance of securing a role in the healthcare industry if you specialize in public health, pharmacy, or biomedics. You can apply for your desired position depending on your education, skillset, and interests.