A dual degree Master of Science in Nursing/Master of Business Administration (MSN/MBA) program is for the nurse who is interested in a career in health care administration, particularly in a nurse leadership position.
This degree combination provides the greatest competitive advantage over others looking for health care management positions. Why? Because this dual degree tells the world that in addition to being grounded in the health care industry with nursing expertise, the dual degree holder has knowledge and insight with business theories that can be applied to clinical nursing practice.
The requirements for the University of Mary’s MSN/MBA online degree program reflect industry standards.
- A BSN from an accredited institution
- An undergraduate or graduate statistics course must be successfully completed prior to or during the Nurse Administrator program
- Evidence of current, unencumbered RN licensure
- Undergraduate GPA of 2.75 or higher on a 4.0 scale
- Professional goals essay
- Official transcripts (including degree granting institution and transcripts of any graduate courses completed)
- Current resume
- Two letters of professional reference
Career Options: What you can do with a MSN/MBA
The MBA/MSN program is for individuals who desire a management career in health care or as a consultant and who wish in‐depth professional preparation for such a career. Here are some career options for a MSN/MBA
- Chief Nursing Officer
- Nurse Administrator
- Nursing Home Administrators
- Health Information Managers
- Nurse Entrepreneur
- Clinical Nurse Manager
Some MSN/MBA graduates go on to shape health care policy by pursuing careers with local, state, or federal agencies (such as the Food and Drug Administration and Centers for Medicare & Medicaid Services) or health-related national associations, such as the Red Cross or the American Hospital Association.
Other MSN/MBA grads head up specific clinical departments or services, while generalists manage (or help to manage) an entire facility or system.
Some of the duties of a MSN/MBA may include:
- Work to improve efficiency and quality in delivering healthcare services
- Keep up to date on new laws and regulations so the facility complies with them
- Supervise assistant administrators in facilities that are large enough to need them
- Manage finances of the facility, such as patient fees and billing
- Create work schedules
- Represent the facility at investor meetings or on governing boards
- Keep and organize records of the facility’s services, such as the number of inpatient beds used
- Communicate with members of the medical staff and department heads
What to Consider if you Pursue a MSN/MBA
According to the U.S. Bureau of Labor Statistics, demand for medical and health services managers is expected to grow by 16% through 2018, which is much faster than the increase in opportunities anticipated in many other fields. In 2010, the average salary was $84,270, according to the BLS.
An estimated 100,000 people serve in health administration, from middle management to CEO positions — at organizations of only one-two staff members to major international companies employing hundreds of thousands of employees.