MBA Roles in Health Care

MBA roles in Health Care

Whether looking at roles in medical device, biotech/pharma, or payers and providers, the roles are similar and defined below.

GM Development Programs/Leadership Development Programs (LDP) develop high-potential MBA graduates into leaders by exposing them to a variety of experiences and/or teams and helping them build skills that are critical to the future success of the organization. They generally involve multiple rotations over a 2-3 year span, exclusive training & development opportunities, and significant access to (and mentorship from) senior leaders.

Corporate strategists and internal consultants operate like external consultants: they solve organizational problems and implement solutions to improve their organization’s performance. They work across a range of activities (strategic planning, mergers & acquisitions, finance, organizational efficiency, technology, process improvement, etc.) to help the organization design a path to growth and profitability amidst competition and constant change.

Project managers are accountable for the success or failure of a project. Project managers wear many hats as they collaborate with colleagues from a variety of functions to keep projects on track (e.g., build master timelines, manage budgets/resources, motivate team members, delegate tasks, provide status updates, etc.). Program managers manage broader programs, which are large projects made up of smaller, inter-dependent projects.

Brand managers are ultimately responsible for the success of their brand(s). These roles involve a balance of marketing (developing & executing marketing initiatives, advertising campaigns, etc.) and general management activities (developing & implementing business strategies, leading cross-functional teams, etc.). They are generally responsible for managing the brand’s P&L, achieving its annual financial objectives, generating market growth, and leading cross-functional teams and junior marketers.

Product managers are responsible for guiding the success of a product or product line and leading the cross-functional team responsible for improving it. It is an important organizational role — especially in technology companies — that sets the strategy, product roadmap, and feature definition for a designated product or product line. Product management roles may also include marketing, forecasting, and P&L responsibilities.

Operations managers are primarily focused on planning, organizing, and supervising production and manufacturing services of an organization. It is delivery-focused, ensuring that an organization can successfully turn inputs into outputs in an efficient manner. The inputs themselves could represent anything from materials, equipment, and technology to human resources, such as staff or workers. Specific roles include supply chain managers, logistics managers, operations consultants, and more.

Corporate finance is a broad term that covers every decision a firm makes that can affect its finances. Responsibilities may include financial planning and analysis; advising leaders on compliance, budget, investment, and other financial matters; evaluating financing options and collaborating with banks to raise and invest capital; managing risk for currency and commodity exposure; mergers and acquisitions; and analyzing opportunities

Health care consultants create and deliver strategies by collaborating with the client (which could be a pharmaceutical or medical device company, a payer, or a hospital or health system) to help them navigate complexity, address their challenges and achieve their business goals, in this sector which ultimately means improving patient care.

Health care investment banking is an industry group within an Investment Banking Division.  Its main clients span across multiple types of health care companies including biotechnology and pharmaceuticals, medical equipment and devices, and health care facilities and providers.