Check out top opportunities in the healthcare industry that students can consider after completing their PGDM in healthcare management.
Top 4 career opportunities for students pursuing healthcare management
By India Today Education Desk: The healthcare industry in India has seen unprecedented growth owing to the pandemic. Now although the pandemic frenzy has taken a backseat, the focus on health and well-being continues to be of prime importance for people.
This has increased the demand for not only core healthcare professionals like doctors and nurses but also management roles that contribute to the efficient operations of the entire industry.
According to a recent report, India’s healthcare industry is poised to create 12 million jobs by 2030, making it an attractive industry for students looking to build a career in health and wellness.
List of career opportunities for students pursuing healthcare management
1. HEALTHCARE BUSINESS ANALYST
This is a highly coveted role for anyone looking to contribute to the healthcare sector in India. The role involves a combination of advanced management skills coupled with data analysis, research capabilities, and finance.
A good healthcare business analyst can help healthcare institutions to draw actionable insights and reduce costs while increasing efficiency across the value chain. These professionals work very closely with the C-suite and have the potential to become business leaders very quickly.
2. INTERNATIONAL/DOMESTIC BUSINESS DEVELOPMENT MANAGER
Business development is an integral part of every industry, but a management degree that focuses on healthcare can help one become a specialised business development professional with opportunities in India and abroad.
The business development manager works closely with the Chief Operating Officer to develop long-term partnerships with clients of hospitals, bring in new customers, and develop and maintain relationships with core healthcare professionals like doctors and surgeons.
The healthcare industry, due to its very nature, is sensitive and requires the development of specialised negotiation skills to close a sale.
3. LOGISTICS AND SUPPLY CHAIN MANAGER:
Both Pharmaceutical & Life Sciences and Hospital Management require a strong logistics and supply chain team to handle the flow of raw materials, medicines, medical equipment, etc. In healthcare, setting up supply chain management is a very crucial element of the value chain as a minor issue has the potential to affect the lives of patients and hamper treatment plans.
Nowadays, with growing awareness, institutions are looking for environmentally friendly solutions, have best-in-class technology, are patient-centric, and at the same time cost-efficient. A student looking for a career that can make a difference in the healthcare sector can opt for a role in logistics and the supply chain.
4. HEALTHCARE ENTREPRENEUR
There are over 5000 healthcare start-ups in India, pointing to the need for innovation in the sector. For budding entrepreneurs looking to make a mark in the healthcare industry, an overall understanding of the sector and how each department works will give them an added benefit as compared to a bachelor’s degree in business.
Through their degree, a student’s learning curve will involve experiential classroom learning, interaction with industry experts, international student exchange, start-up accelerator programs, and innovation mentorship.
All of this will catapult the student’s entrepreneurial journey. Some institutions also offer mentorship and funding assistance to alumni, giving them a platform to connect with investors and present their business ideas.