Aspiring to build a career in healthcare management? Power your B. Pharma degree with an MBA in Pharmaceutical Management
Day by day, the healthcare sector in India is experiencing transformations. The need for trained and specialized professionals in the healthcare department has increased manifolds. As the world is going through the most significant pandemic of all time, the demand for pharmacists has increased. It will grow even in the future and hence give rise to many job opportunities in this field.
More and more public and private investors are investing in it. Technology has given birth to many life support systems, new diagnosis mechanisms, and low-cost, high-quality device-related services.
Revamping healthcare with Pharmacy Management
Pharmaceutical studies deals with the study about various healthcare sectors, from manufacturing, quality control, and assurance, to packaging, sales and marketing, academics, clinical research, and much more. Working in the pharmaceutical sector requires not just regular qualifications but Management qualification as well.
With the advancement in medical technology, including the manufacture, supply chain & marketing through digital platforms, and access to medicines, including laws and regulations in healthcare; Pharmaceutical professionals experience in management skills have become the need of the hour.
The healthcare sector performs under tight budgets, high-profit margins, and comprises the management of a vast workforce. Pharmacy management professionals develop innovative schemes and protocols to solve severe problems in healthcare quickly.
All about MBA you need to know
What is an MBA?
Master of Business Administration, often abbreviated as MBA, is an internationally-recognized degree designed to develop the skills required for jobs in business and management.
MBA course duration
It is the most popular professional degree program in the world, which continues for 2 years. The subjects taught are Economics, Accounting, Corporate Finance, Organizational Behavior, Marketing, MIS, Operations Management, etc.
MBA Eligibility
The applicant must have a graduate degree under 10+2+3 or 10+2+4 pattern in any discipline. He or she should secure at least 50% marks in total, from a recognized university. Further, few colleges conduct an entrance exam for admissions.
MBA Admission Procedure
The MBA Admission process in India is a four-step process. The four steps of the MBA admission process are listed below.
Step1: Apply for MBA Entrance Exam
The admission process in MBA colleges begins in September first week and closes in November last week. Candidates should register and apply for the relevant MBA entrance exam like CAT/XAT/IIFT/NMAT/SNAP. The registration process National level MBA entrance exams like CAT, XAT are closed in September and November, respectively. The CAT registration process remains open for 45 to 50 days, and it is preferable to register in the given period.
Step2: Appear in MBA Entrance Exam
One seeking admission in management courses like PGDM/MBA program from top MBA colleges must appear in CAT, XAT, NMAT, etc.
Step3: Shortlisting Process
Usually, the results of the MBA exam are declared in January. After that, most of the top B-schools start shortlisting suitable candidates for the final admission round based on exam scores, academics, work experience, and many other parameters as per the respective B-school admission policy and weights.
Step4: Final Admission Process- GD-PI-WAT Round
The qualifies candidates to need to appear in the Group Discussion (GD), Personal Interview (PI) and Written Ability Test (WAT). Some of the B-schools like FMS conduct GD & Extempore before PI round, whereas B-schools like MDI conduct GD-PI. IMI conducts Psychometric tests also. So, it depends upon the institute.
The final result is issued based on the performance of candidates in the final selection round, weightage awarded to entrance scores, academic profile & diversity, work experience, and gender diversity. Finally, admission offers are made by the respective B-school.
Integrated courses in Pharmacy and Management
Currently, health care services need professionals who can combine the skill of both their pharmacy degree and management degree. It will bring a change in a range of healthcare settings like in long-term care facilities, clinics, ambulatory centers, treatment practices, pharmaceutical chains, medical technology, health insurance, healthcare consulting and research, and much more.
Conclusion
The need for healthcare, pharmacy, and management has made Pharmaceutical Management one of the top career choices in the country. Hospitals and organized retailers are witnessing explosive growth. It has raised the demand for skilled professionals.