Saturday, February 28, 2009

Best Online MBA for a Physician

This question comes up all the time: "What's the best online MBA for a physician?"

There's no easy answer, since it probably really depends on what that physician wants to do with that MBA. Is he/she interested in starting a business and becoming an entrepreneur? How about running a hospital? (in which case a master's in medical management of a master's in health administration may be more beneficial). What if you want to go into pharma? Do you need an MBA? No. However, if you want to work on the marketing side of pharma, then it may be very beneficial to have some marketing expertise.

An MBA can also be very useful if you want to go into finance or consulting. I've discovered that most physicians don't really understand the corporate business world. By "most" I mean those who go straight from a biology/chemistry/science undergraduate degree to medical school. They lack any "real world working experience." They've been a lifelong student!

Do some research before pursuing an MBA. Don't simply look for the "best" since one size doesn't fit all physicians. There are so many different non-clinical opportunities for physicians and you may find that an MBA is not usually required for most of them.

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