More doctors are pursuing Masters of Business Administration (MBAs) than ever before due to changes from the Affordable Care Act (ACA/Obamacare) and a desire to know more about the business side of medicine to enhance the doctor-patient experience, according to a story by Francine Russo of Kaiser Health News in collaboration with the Boston Globe.
(Photo, inset right) DOCTORS & MBAS: More physicians are pursuing additional degrees to enhance the doctor-patient experience. Photo: FreeDigitalPhotos.net
The UMHS Pulse summarizes this growing educational trend for current doctors and students at American and Caribbean medical schools, based on Ms. Russo’s research for Kaiser Health News and other online resources. We will also explain the partnership between UMHS and Davenport University for online MBAs, and UMHS and Walden University for other online master’s degrees.
In the article, Ms. Russo says many doctors and other senior-level health-care professionals are studying for MBAs at the Massachusetts Institute of Technology (MIT) Sloan School of Management, as well as at other major universities nationwide. “For the first time, health care has more students in MIT’s executive MBA program than any other industry, accounting for about 1 in 5 members of the class of 2014,” she writes.
Following are highlights from Ms. Russo’s news feature:
- “More [MBA students] are practicing physicians, including three surgeons, two oncologists, and an anesthesiologist. Whether preparing for new or bigger management roles or seeking to improve their practices, they see the executive MBA as a path toward improving the patient experience.”
- Doctors study for MBAs at MIT on weekends, “with an occasional weeklong session.”
- “Business training for doctors has been growing since the late 1990s when the University of California, Irvine, became one of the first medical schools to offer a joint MD/MBA program, as well as a health care-specific executive MBA."
- “Now more than 50 percent of medical schools offer the joint degree, said Dr. Maria Chandler, head of Irvine’s program and president of the Association of MD/MBA Programs.”
- “The number of practicing physicians taking Irvine’s health-care executive MBA program has shot up in the past two years, from 35 percent to more than 50 percent of the incoming class. Still, less than 5 percent of students enrolled in Irvine’s general executive MBA program are health care folk. That makes MIT’s 19 percent quite striking.”
- “Dr. Richard Baum, chief of interventional radiology at Brigham and Women’s Hospital, said he was eager to study “the science of business” and not get a health care-specific executive MBA. He wanted to learn bread-and-butter stuff, like how to pay for a hospital with bonds and government subsidies. But he also wanted to learn new ways of thinking from outside health care.”
UMHS & Davenport University Online MBA Program
UMHS currently partners with Davenport University to offer qualified students a Masters in Business Administration (MBA) degree, with an emphasis in health sciences.
Following are the benefits of this unique program:
- Program offers qualified students the opportunity to learn the business side of medicine. Students that enter this program are currently pursing both an M.D. and a master’s degree.
- In a competitive market place, having earned two advanced degrees enhances your credentials and makes you a more desirable candidate when applying for a residency. This degree is completed online while UMHS students are simultaneously completing their Doctor of Medicine (MD) degree.
- Students take one 7-week course at a time, or two courses in a 15-week period. It takes a minimum of 6 semesters to complete the MBA program. The program must be completed in no more than a total of 6 years.
- Davenport University offers financial aid to qualified students, including Davenport scholarships up to $2,000.00 per academic year (2 semesters).
Davenport University Master of Business Administration: 39 credits
The Health Care Management Concentration focuses on strategic, financial, and ethical decision-making skills in an evolving health care environment. The program is designed to advance students' practical expertise in managing diverse health care processes necessary for individual and corporate growth and development. These skills are integrated through interdisciplinary approaches of health care organizations, ethical and legal issues, financial management, managing projects, information management, and strategic management using case analyses and interactive technologies.
- The Health Care Management Concentration serves health care providers as well as individuals who are involved in the management and reimbursement of health care services. Individuals who desire to enter the health care management field will also benefit from this program.
- Students who want to take the Certified Professional Manager (CM) exam from the Institute of Certified Professional Managers (ICPM) should complete MGMT699 as one of their course options in the Health Care Management Concentration.
For more information, visit http://www.davenport.edu/
WALDEN UNIVERSITY: Partner with UMHS
Walden University & UMHS Partnership for Master’s Degrees
UMHS students may also study for an online master’s degree through a partnership with Walden University. Walden has master’s programs in Health Administration (MHA), Public Health (MPH), Health Informatics and Clinical Research Administration.
For details on integrating Walden programs into your UMHS studies and possibly qualifying for a 20% tuition-reduction offer, visit www.waldenu.edu/UMHS
(Top photo) DAVENPORT UNIVERSITY: Partner with UMHS.
About UMHS:
Built in the tradition of the best US universities, the University of Medicine and Health Sciencesfocuses on individual student attention, maintaining small class sizes and recruiting high-quality faculty. We call this unique approach, “personalized medical education,” and it’s what has led to our unprecedented 96% student retention rate, and outstanding residency placements across the US and Canada. UMHS is challenging everything you thought you knew about Caribbean medical schools.
Scott is Director of Digital Content & Alumni Communications Liaison at UMHS and editor of the UMHS Endeavour blog. When he's not writing about UMHS students, faculty, events, public health, alumni and UMHS research, he writes and edits Broadway theater reviews for a website he publishes in New York City, StageZine.com.
