Where do MBAs fit in the health care industry? Essentially, the MBA can find opportunities throughout all segments and job functions. There are opportunities in finance (corporate and investment), marketing, strategy, business development, operations management, and administration. Most major consulting firms have specific health care practices, and there are boutique firms that specialize in health care strategy and information technology.
The health care industry is comprised of different segments that are clustered geographically. The segments include providers, payors, pharmaceuticals, medical devices, biotech, and information technology. While there are opportunities all over the country, the major health care markets are the Northeast, California, Atlanta, Minnesota, Nashville/Memphis, Chicago/Midwest, and central Texas.
Where an MBA will find opportunities depends on the segment and the business strategy of the individual company. For example, the biotech/pharma and medical device segments have a greater need for product and brand management skills. In these segments, there is also a high demand for candidates with science backgrounds; however, MBAs without scientific experience can find opportunities in sales, marketing, and business development. Prior sales experience is extremely desirable; many like to see that managers have experience “carrying the bag.” With these product-based companies, there is also a need for MBAs with operations and supply chain management experience to manage the manufacturing side.
Hospitals are less reliant on the marketing function and typically rely on a PR approach to get exposure in the market. Financial management and operations drive the success of hospitals. An MBA might start as a junior administrator or an internal corporate analyst with a career path to a position as COO. Hospitals and other health care providers find previous experience in health care desirable, but also understand the value of operations experience in other industries that demonstrate the ability to reduce costs and increase revenue.
There are also a number of emerging sectors and services in the health care industry. For example, disease management companies need strong data analysis, information technology management, and marketing communication skills. MBAs will also find opportunities in corporate finance or with venture capital firms, evaluating the feasibility of bringing a new health care product or service to market.
Health Care Segments Include:
- Biotech: Amgen, Genentech, Genzyme, Applied Biosystems
Health Care Consulting: PriceWaterhouseCoopers, McKinsey, Advisory Board Corporation, Navigant, ChapterHouse - Health Care Plans/Payors: Humana, Cigna, Aetna, Blue Cross Blue Shield
- Health Care Service Providers, such as Hospitals: HCA, Kaiser Permanente, St. John Health; Specialty Service Providers (surgery centers, clinics, long-term care facilities, specialty acute centers, primary care practices, psychiatric centers): Ardent, MedCath, Psychiatric Solutions, AmSurg, United Surgical, Dialysis, HealthSouth
- Medical Device (equipment and supplies): GE Healthcare, Medtronic, Stryker, Boston Scientific, Smith & Nephew
- Medical Labs and Research: Quest Diagnostics, National Cancer Institute, Vanderbilt, Detroit Medical Center
- Pharmaceuticals: Pfizer, Abbott, Wyeth, Eli Lilly, Merck
- Specialty Services/Products (disease management and IT): Healthways, AIM Healthcare, Emdeon/WebMD
- Venture Capital and Market Research Providers: Warburg Pincus, Kleiner Perkins, Bain Capital
Geographic Placement:
- Biotech: Northeast, Mid-Atlantic, Southern California
- Health Care Plans/Payors: Mid-Atlantic, Midwest, California
- Hospital Corporate Offices: primarily Northeast, Nashville, California, some scattered in Midwest and South
- Medical Devices: Northeast, Mid-Atlantic, Minneapolis, Memphis, Midwest
- Medical Labs and Research: Northeast, Midwest, South
- Pharmaceuticals: Northeast, Midwest, a few in California
- Specialty Service Providers: Nashville, Mid-Atlantic, Texas, Florida, Southern California, Minneapolis
- Venture Capital: Northeast and California
Health care is part of the global economy in some segments. Biotech/pharma and medical devices have a greater reach internationally. Hospital and service providers typically have a domestic focus.
Typical Concentration(s)
The Health Care Specialization is an excellent option for students with or without specific industry experience. This specialization will be paired with a functional area concentration to prepare students for the specific segment of the health care industry they desire to enter. Students typically concentrate in Finance/Accounting, Marketing, or Operations.
Companies that Recruit Vanderbilt Health Care MBAs:
- Advisory Board
- Alcon
- Amgen
- Avail
- Bristol-Myers Squibb
- Cigna
- Genentech
- HCA
- Humana
- Johnson & Johnson
- Kinetic Concepts
- McKesson
- McNeil
- PriceWaterhouseCoopers
- Smith & Nephew
- Vanderbilt University Medical Center
Owen Extras
Clubs, activities, events, and programs to help build your resume:
- Vanderbilt Health Care Club
- Owen Health Care Alumni Association
- Health Care Symposium
- Nashville Health Care Council
- Leadership Health Care
Health Care Industry Key Competencies:
Typical MBA skills sets are valued. Knowledge in health care or the specific segment will make you competitive.
Sample MBA Careers in Health Care:
| Title | Functional Area | Segment |
| Dir. of Fin. Planning and Analysis | Corporate Finance | Hospital |
| Product Manager | Brand Management | Medical Device |
| Business Analyst | Operations Management | Specialty Services |
| Senior Analyst | Strategy/Consulting | Consulting Firm |
| Mgr., New Product Development | Strategy/Corporate Planning | Payor |
| Senior Operations Analyst | Operations Analyst | Hospital |
| Director of Market Intelligence | Marketing | Disease Management |
