Good health is not something we can buy. However, it can be an extremely valuable savings account – Anne Wilson Schaef
Health is the most valuable possession of human beings which needs to be safeguarded. Healthcare industry today is one of the fastest growing industry. Healthcare industry in India alone values to about $ 110 billion, which is expected to grow at an annual rate of 22%. Healthcare management does not deal with treating patients directly, it is the management of the organisations that are responsible for providing healthcare to the masses.
PGDM in Healthcare Management is a divergent course which differs from other management courses in many ways like,
- It is affiliated to a very fast growing industry
- There is no qualification restriction to get admission into this course
- A lot of industries for the student to enter after the completion of this course
Now I will explain each of the above options in detail for better understanding of the course.
First, Healthcare Management, as the name suggests is associated with the industry which has a huge potential to grow in the near future. Today Indian population has become more Health conscious and with increase in spending capacity of an average Indian the willingness to pay for good healthcare has also increased. With extensive research taking place in this sector, India is becoming a central hub for the Healthcare sector across the globe. Big global companies like Johnson & Johnson, Boehringer Ingelheim, Medtronic, etc have set up their shops in India and numerous others plan to do the same.
Second, there is no constraint when it comes to getting admission into this course. Students from various different backgrounds can get into this course and most importantly, can find immense opportunities to work in the industry. Few student qualifications which find great potential in this industry include,
- Medical profession (MBBS, BDS, Physiotherapist, etc)
- Pharmacists (B. Pharm, M. Pharm)
- IT professionals – With IT skills of the software engineer and the management knowledge from this course you will be like an irresistible candy to a child (Healthcare organisations)
- Engineers – For the number crunchers, healthcare industry has huge prospects like that in Operations management, Marketing, etc. For offbeat engineers like Civil engineers, Hospital planning, Facilities planning and design, etc.
- Commerce students (B.Com, BMS, etc) – Commerce students also have a huge potential in Healthcare industry where many financial institutions have a healthcare subsidy like Siemens, various banks providing Health insurance, etc.
Third, the number of options for the student to pursue after this course. Healthcare sector consists of various industries like Pharmaceutical industry, Hospitals, Medical devices, Insurance companies, Financial institutes, etc. for the students to join.
The curriculum for this course is not very different from a regular PGDM/MBA course. It consists of subjects like Marketing principles, Materials management, Business Analytics, Financial Management, etc. Hence, we can say that a Healthcare Management student is equally perceptive about the management concepts and understanding but also has deeper insights into the management perspective for Healthcare industry. A handful of institutes in the country offer this course like Prin. L.N Welingkar Institute of Management, TAPMI Manipal, etc. Professionals already working in this sector can pursue this course from one of the most prestigious management institutes of the India ISB Hyderabad.
All in all it can be said that Healthcare management is an exceptional course which can accommodate any student irrespective of his/her qualifications and also provides huge future potential for the same. So, if you want to pursue higher management studies and wish to enter a flourishing sector and make a difference, you know which course to pursue.
Life is all about CHANCES and OPPORTUNITIES. Never leave anything to CHANCE and never let an OPPORTUNITY get away