A Healthcare MBA degree from Loyola University Chicago’s Quinlan School of Business is specifically designed to help healthcare professionals achieve business knowledge and leadership skills appropriate for a variety of settings.
The rigorous coursework has been optimized to meet six essential competencies. These competencies are applicable across the board and are relevant to numerous healthcare settings:
Healthcare business knowledge and skills: Understand and correlate the interrelationship of the various factors impacting all segments of the industry
Critical decision making: Critically define and analyze business problems and formulate data- and information-driven business decisions
Ethics and responsible leadership: Understand the responsibility leaders have to all stakeholders and the application of ethical principles to business practices
Team member effectiveness: Successfully participate in and lead multi-functional team projects
Business communications: Demonstrate proficiency in the various forms of communications
Leadership: Model the characteristics and skills of visionary leaders
Quinlan’s Healthcare MBA is taught within a cohort setting. Cohort groups attend all required classes together, allowing greater focus, long-lasting relationships, and a greater exchange of ideas.
Course schedule for Loyola's Healthcare MBA
Our Healthcare MBA course schedule is designed for working professionals with busy schedules. Courses are offered over seven 10-week quarters. Courses meet on Loyola’s Water Tower Campus twice a month—every other Saturday. A modest number of class sessions are held online. Motivated professionals can complete Loyola’s Healthcare Management MBA in 24 months.
As a student in Quinlan’s Healthcare MBA program, you will participate in the equivalent of 17 3-credit-hour courses focused on building your skills in four areas:
- Financial Management
This course will emphasize the basic concepts of corporate finance, including time value of money, valuation of securities, risk and return, cost of capital, capital budgeting and working capital management.
- Financial Statement Analysis
This course provides an introduction to the accounting function that is used to measure and communicate business transactions. Students will be able to identify the impact of business transactions on the basic financial statements: the income statement, the statement of financial position, the cash flow statement, and the statement of changes in owners’ equity. Students will also be able to demonstrate an understanding of the financial statements and their implications on various business decisions.
- Managerial Economics
This course uses tools of economic analysis to understand demand, supply, profits, production, competition, pricing policies, business criteria for investment, output, and marketing decisions. Students learn how to use various economic tools to make managerial decisions related to output and pricing policies.
- Managerial Statistics
The purpose of the course is to provide students with statistical and data analysis tools useful for managers. The course emphasizes all the steps and procedures required to successfully assess and manage business problems, including: problem definition, statistical formulation of the problem, data collection, data analysis, and the use of the statistical information in decision making.
- Quantitative Methods
This course is designed to help students build a solid base of math skills sufficient for MBA finance, accounting, economics, and statistics.
2Healthcare Management Fundamentals
- Business Data Analytics
This course emphasizes how healthcare organizations gain genuine business insight from their data analytics efforts by leveraging modern computing architectures and technologies, modern data visualization methods and tools, statistical and forecasting methods, as well as fundamental data mining techniques. Students will gain a working knowledge of fundamental data analytic methods and approaches for detecting and analyzing patterns across large amounts of business-related data.
- Conflict Management
This course is designed to help you not only understand the nature and sources of conflict and change in healthcare settings, but to develop/enhance behaviors that permit you to effectively lead yourself and others through change and manage and negotiate the differences that will inevitably arise.
- Marketing Management
This course focuses on the evolving role of marketing in the ever-changing healthcare industry. We will discuss differences in healthcare marketing to other sectors and explore how internal and external pressures, analytics, segmentation, technology, brand image and service line positioning, impact strategic marketing. We will also discuss marketing fundamentals, ROI, appropriate communication channels and other tools within your organization to create strategic and measurable marketing programs.
- Operations Management
Introduction to concepts and methods for managing operations in healthcare and service organizations. Topics typically include forecasting, capacity and aggregate planning, material requirements planning, scheduling, facility layout and location, inventory management, just-in-time, total quality management, project planning, and logistics.
- Strategic Human Resource Management
As a leader or manager, it is your job to find the right people, engage and motivate them, and structure and operate the organization in a way that enables and inspires people to perform at their best. And, you have to do this in a way that preserves the organization’s financial health and protects it from legal risks. Your professional success depends directly on your ability to make the right strategic human resources decisions, and effectively carry out your people-related accountabilities. This course is designed to enhance your ability to do this.
3Advanced Healthcare Leadership
- Healthcare Business Ethics
This course provides a holistic review of healthcare business ethics from a leadership vantage point, which seeks to integrate business ethics across the healthcare continuum. The course presents a systematic analysis of the practical approaches to healthcare business ethics, which is applicable across the healthcare domain. Specifically, the course focuses on the integration of professional and organizational business ethics in health care to foster culturally competent decision making, customer-centered care and service, workforce engagement, and organizational excellence.
- Values-Based Leadership
This course enables students to exam major approaches to healthcare leadership that are based on personal and organizational values. Students will have an opportunity to explore their own values and approach to leadership and be challenged to identify opportunities for improvement.
- Business Communication
Effective business communication is vital in today’s complex business environment. This course is designed to help students hone their business writing techniques and oral presentation skills.
- Special Topic
Offers students an opportunity to gain additional understanding on a special business topic not otherwise covered in the standard curriculum. The subject and content vary and are offered on an ad hoc basis.
4Advanced Healthcare Management
- Finance and Accounting
This course analyzes the financing and accounting of the U.S. healthcare system from the perspectives of providers, payors, and suppliers. The course reviews in detail various reimbursement mechanisms, including governmental and private and changes forthcoming related to reimbursement for providers. The course will also consider revenue and expense analyses, operational and capital budgeting approaches, and methods of capital financing available for organizations in the healthcare system.
The course provides an understanding of the unique economic complexities of the health care industry. Relying on economic principles from Managerial Economics, we will consider issues of the scarcity of resources in the supply of health care, efficiency in the production and allocation of health care, and market behavior of the firms and consumers in this fascinating industry. Issues such as the demand for health care, the role of government in forming health care policy, provider behavior and hospital competition are explored.
- Policy and Law
This survey course is designed to introduce health care professionals to significant legal principles and issues that apply to, arise from and affect the relationships between and among patients, health care professionals, healthcare institutions and the bodies regulating the provision of healthcare. The course will provide a broad overview, with focus on some of the key relevant laws and regulations that health care professionals are likely to encounter and will also examine court decisions, administrative agency rulings/promulgations and other guidance relating to the regulation of the complex relationships described above.
- Risk Management
Through readings and case study analysis students will learn to identify legal, ethical, administrative and compliance risk management and patient safety issues and to reach resolutions for the problems presented, even when a legal response may not be available or in the best interests of the patient. Students will learn how to respond to various risk management issues from the perspective of clinicians, lawyers, administrators, managers and patients and appreciate how events are perceived and managed; and often how these perceptions are in conflict.
- Strategic Management
The course focuses on the structure and processes of developing and implementing strategy in the healthcare industry. It provides an understanding of how to develop strategy that is consistent with the mission and values of the organization, creates value for the consumer, differentiates the institution, and is sustainable.
- Project Management
This course focuses on the knowledge, skills, tools, and techniques needed by healthcare leaders to meet project requirements. The course aligns with the practices described in A Guide to the Project Management Body of Knowledge (PMBOK® Guide) published by Project Management Institute (PMI). Students will explore how these globally recognized processes lead to improved patient outcomes and business processes within their organization.
- International Immersion
Students travel abroad for 10-12 days to examine global health care issues up close with leaders, providers, and suppliers; focusing on current challenges and emerging opportunities.