MBA in Pharma & Healthcare Management - Admissions, Fees, Syllabus, Top Colleges & Career Scope

What Is MBA in Pharma & Healthcare Management?

An MBA in Pharmaceutical and Healthcare Management is a specialized type of master's degree for learning business management skills related to the pharmaceutical and healthcare industry, mostly in drug development, regulatory affairs, marketing, supply chain management, and health policies. Through this course, individuals are prepared with higher levels of expertise and skills required in leading and managing, by definition, dynamic and complex pharmaceutical businesses.

An MBA in Pharmaceutical and Healthcare Management is a 2-year postgraduate program that helps aspirants take up leadership roles in the front end of healthcare. An MBA in Pharmaceutical and Healthcare Management comes in various modes, which shall be catered to in detail in this article at a later stage.

MBA In Pharma & Healthcare Management - Key Highlights

Career opportunities in an MBA in Pharma field are vast, fostering creativity and personal development. An MBA in Pharmaceuticals & Healthcare Management has features that equip aspirants with appropriate knowledge coupled with the practical experience necessary to excel in this particular field. The following are important features of such an MBA that one needs to consider before opting to pursue an MBA in Pharma & Hospital Management.

Note: The course fee and the average salary aforementioned are subject to change and may vary.

Why Pursue An MBA In Hospital Management?

An MBA in Pharma and Hospital Management can widely advance career opportunities owing to the complexity and nature of the problems encountered by the industries. Here are reasons why someone would consider pursuing an MBA in Healthcare: 

• Knowledge of the operations that pertain to pharmaceuticals, the development of drugs, adherence to regulatory frameworks, and policies that affect healthcare. 
• Essentially, the acquired business and management skills shall form the bedrock of a good leadership style within the pharmaceutical industry. 
• Mainly to develop agility thanks to coping with regulatory changes, technology advancements, and fluctuations in the pharmaceutical marketplace. This will connect a wide array of industry personnel, faculty, and colleagues, creating very good networking opportunities for future career endeavors. 
• Various career paths in pharmaceutical marketing, regulatory affairs, supply chain management, and business development, along with other broader areas. 
• Standard strategic thinking classes where challenges will be addressed in the fast-paced and fiercely competitive pharmaceutical field. 
• Foundation skills on how to put up and run a pharmaceutical company or a consultancy for such companies.

Admission Process For MBA In Hospital & Healthcare Management

MBA in Pharmaceuticals and Healthcare Management  programs might slightly vary from institution to institution, but the general steps of the admission process are as follows:

• Eligibility Criteria: The candidates should have graduated from a recognized university. Most of the minimum aggregate marks should be very much like 50%, with concessions for an SC/ST background.
• Entrance Examinations: Many institutions take certain entrance examinations. The major ones for MBA programs, including Pharma, are CAT, CMAT, NMAT, SNAP, and GRE, among others.
• Shortlisting Colleges: Take a list of universities that offer MBA and hospital-healthcare programs. Take reference from reliable rankings, such as NIRF, QS, etc., on how to go through the research. Some courses have specializations within pharma, such as marketing, finance, or operations management. Choose the one that best fits one's career direction.
• Application Form: Fill out the application forms of respective institutions by interested candidates.
• Entrance Exam Scores: Candidates have to submit their entrance examination scores along with applications.
• Group Discussions (GD) and Personal Interviews (PI): Shortlisted candidates go through this stage of selection, which includes group discussions and personal interviews. The communication and teamwork skills of an individual are assessed during a group discussion, and the personal interview assesses eligibility for the program. 
• Merit List and Admission Confirmation: On the basis of entrance scores, GD/PI performance, educational background, and other criteria, institutions prepare merit lists. Successful candidates receive an admission letter and confirmation by paying the required fees within the stipulated time.

Detailed Syllabus Covered In MBA In Healthcare Management

The course MBA in Pharmaceuticals and Healthcare Management is divided into 4 semesters, covering many important aspects of healthcare in the form of theoretical and practical knowledge. While each B-school has its curriculum, given below is a list of topics covered broadly under this degree:

Career Opportunities After MBA In Pharma & Healthcare

An MBA in Pharma provides access to a diverse array of stimulating and profitable career opportunities in various sectors of the pharmaceutical industry.  Here are some of the most sought-after options, which go as follows:

MBA In Pharma & Healthcare Management: Top B-Schools, Salary Packages & Fee Structure

Regarding the prospects offered after the program, which is also an important consideration while selecting a good B school for pharma specialization, some of the leading B schools in India have been compared on the average, median, and highest CTC along with their respective fee structure in the table below. The fee structure varies directly for institutes, but even among such diversities, ROI proves to be another important consideration. This comparison renders various insights to aspiring marketers with respect to their placement scenarios and costs of their programs as overleaf:

Top Colleges Offering MBA In Pharma & Hospital Management In India

Top public and private universities offer MBA in Hospital Management options for students to follow. These are the top MBA in healthcare management institutions in India:

MBA In Pharma & Healthcare Management: Top Recruiters

MBA companies hiring for Pharma & Healthcare  Management are usually multinationals that utilize data for the competitive edge that it grants them. Such companies seek professionals who can extract actionable insights into the pharma and healthcare industry and align with the business goals. Here is the table following the same, which goes as follows: