Healthcare professionals (especially physicians) who are interested in non-clinical careers often have a strong interest in business. However, they also frequently lack proper education and training in business. How many business majors do you know who went to medical school? Chances are, most of the people who were pre-med were either biology or chemistry majors. Business degrees can improve your market potential and also increase your salary if you find the right position. If you don't think you have time to pursue a business degree, keep in mind that many programs allow you to take a single course at a time. This way, you can take your time and get an MBA over several years. If you're not in a rush, this may be a good option.
I've always wanted to pursue an MBA. In fact, I'm seriously thinking about taking some courses this fall. I need to look at my workload and my schedule to see if this makes sense. I just finished my MPH last year and I would like to have a little break from studying, but if I'm going to take my time to get a business degree, then I'd like to start sooner rather than later. I've been collecting information from several different business schools and researching my options. If I don't start this fall, then I may begin some courses next year.
Showing posts with label master's in business administration. Show all posts
Showing posts with label master's in business administration. Show all posts
Thursday, April 16, 2009
Sunday, April 12, 2009
Reading List 2009: What They Don't Teach You At Harvard Business School: Notes From A Street-Smart Executive
I'm going to start keeping a reading list of the books I hope to read in 2009. I had a really interesting phone conversation with a physician on the west coast this morning. As we started talking, our conversation drifted to the book titled, "What They Don't Teach You At Harvard Business School: Notes From A Street-Smart Executive." I haven't read it, but I'd really like to. Therefore, I'm adding it to my 2009 reading list and I'll probably get it from Amazon. Thanks to Sermo, I have some Amazon gift certificate credit that I need to use.
The author is Mark H. McCormack and ironically, he didn't actually attend HBS (Harvard Business School). Instead, he was a Yale-trained attorney. But was he qualified to write such a book? Absolutely! He is considered the Pioneer of Sports Marketing and he died in 2003. He was an entrepreneur with a lot of street smarts and we can all probably learn a lot from him.
The author is Mark H. McCormack and ironically, he didn't actually attend HBS (Harvard Business School). Instead, he was a Yale-trained attorney. But was he qualified to write such a book? Absolutely! He is considered the Pioneer of Sports Marketing and he died in 2003. He was an entrepreneur with a lot of street smarts and we can all probably learn a lot from him.
Tuesday, April 7, 2009
7th Annual MD/MBA Conference
7th Annual MD/MBA Conference in Dayton OH
When: April 17-19, 2009
Where: Wright State University School of Medicine and College of Business
Want to learn more about this event? Click here.
You may think that most people who pursue a combined MD/MBA plan to pursue non-clinical careers, but that may not be true. An MBA can be very beneficial to help you run a more efficient practice or hospital. If you stop to think about it, medical management is really a form of business administration, so if you're properly equipped, you'll be better at it.
Thursday, April 2, 2009
Consulting for McKinsey or the Boston Consulting Group
It seems like many students who pursue a joint MD/MBA want to get a consulting job at McKinsey & Company. Who wouldn't? I've known several people who have worked at McKinsey and I'm always fascinated by the unique stories associated with the McKinsey culture. I've also met medical school graduates who have pursued opportunities at the Boston Consulting Group (BCG, not to be confused with the BCG vaccine). So what about you? Do you have strong interests in the business/consulting industry? If you're pre-med, are you planning on pursuing an MD/MBA program? As I look back on my education, I often wonder whether I would have pursued a combined MD/MBA. Since I lacked "real world" working experience before applying to medical school, I think I would have been lost in business school. Had a been a non-traditional student who had worked for several years prior to applying to medical school, then I would have seriously considered a combined MD/MBA program.
Monday, March 23, 2009
Improving Leadership Skills
We probably don't do enough to improve our personal leadership. The American College of Physician Executives (ACPE) has some great courses on physician leadership, but only a small percentage of US physicians are members of ACPE. Even a smaller percentage are pursing a master's degree in either medical management (MMM) or business administration (MBA). So, if you can't enroll in a degree program, then you may want to try either Dale Carnegie Training or Fred Pryor Seminars & CareerTrack. Participation in these courses can strengthen your career and also help you refine important leadership skills.
Sunday, March 1, 2009
MBA Costs at U Mass Amherst Isenberg
As a member of the University of Massachusetts Amherst alumni association, I'd like to let people know about the Isenberg School of Business at UMass Amherst. They offer an flexible part-time MBA that is 100% online and is also endorsed by the American College of Physician Executives (ACPE). The Isenberg Part-Time MBA Program ranked 5th in the Northeast and 29th in the Nation by BusinessWeek. It is accredited by the AACSB and students even have the option of taking live courses on select UMass campus locations.
This is a 37-credit program that can be done over 4 years, but most students complete this program in 2 - 2.5 years while working full-time. If you've a physician and you've been thinking about pursuing an online MBA, this is one you should seriously consider. Each class will cost roughly $2,000 so that puts the entire program at roughly $25,000. At some universities, you'll easily pay over twice that amount to get an MBA.
So what are you waiting for? You can even take 1-2 classes as a non-degree student and then transfer those credits towards your MBA degree.
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.
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.
Balancing Full-Time Jobs and Part-Time Education
It's tough enough balancing a full-time job and a personal/family life. When you add an educational degree on top of that, then it gets to be very tricky! There are many people who find that they are more productive when they're pushed to the limit. Of course, you can get burned out very quickly if you're being pushed to the extreme, so you have to know your limits.
For me, I enjoy reading and learning new things. In some ways, I wish I could be a lifelong student (as long as someone pays me so that I can pay the bills, take care of my loans, etc.). However, the reality is that we need to be productive with our time, resources, and talents. I enjoyed getting my MPH (master's in public health) while I was working full-time. It was motivating and stimulating. I admit that there were days when I just wanted to be finished with my MPH. Once I was done, I felt a huge sense of relief. However, I also know that I can do it again - and that's why I've been thinking about business school. I'm still not sure where (and if) it fits into my life and my career plan, but I hope that it will at some point.
If you've been considering a part-time education and you're currently working full-time, keep this in mind: many schools offer you the option to enroll in one or two classes as a non-degree student. This gives you the flexibility to test the waters and try things out first. If you find that the work/life/school balance is too difficult, then you may need to reconsider your options. However, I'd have to think that many people would find the balance manageable - as long as you prioritize wisely. If you have the luxury to stop your day job and enroll in a full-time educational program, then you're very lucky. That's probably the best learning option if you can afford such an investment. As for me, I need to play the balancing act of work/life/education in order to stay alive and support my family. That's the practical side of life.
For me, I enjoy reading and learning new things. In some ways, I wish I could be a lifelong student (as long as someone pays me so that I can pay the bills, take care of my loans, etc.). However, the reality is that we need to be productive with our time, resources, and talents. I enjoyed getting my MPH (master's in public health) while I was working full-time. It was motivating and stimulating. I admit that there were days when I just wanted to be finished with my MPH. Once I was done, I felt a huge sense of relief. However, I also know that I can do it again - and that's why I've been thinking about business school. I'm still not sure where (and if) it fits into my life and my career plan, but I hope that it will at some point.
If you've been considering a part-time education and you're currently working full-time, keep this in mind: many schools offer you the option to enroll in one or two classes as a non-degree student. This gives you the flexibility to test the waters and try things out first. If you find that the work/life/school balance is too difficult, then you may need to reconsider your options. However, I'd have to think that many people would find the balance manageable - as long as you prioritize wisely. If you have the luxury to stop your day job and enroll in a full-time educational program, then you're very lucky. That's probably the best learning option if you can afford such an investment. As for me, I need to play the balancing act of work/life/education in order to stay alive and support my family. That's the practical side of life.
Business Exchange
If you frequent BusinessWeek online, then you may have stumbled upon Business Exchange. It's still in beta, but it appears like a solid social networking site where you can exchange thoughtful ideas, opinions, and resources. Have you been thinking about business school? If you have unsettled questions about b-school (regarding tuition, online classes, etc.), then you should take a look.
For those healthcare professionals who are planning a transition to a non-clinical career, it may be a good investment of time to take some online business courses. Some are even offered for FREE, so why not?
For those healthcare professionals who are planning a transition to a non-clinical career, it may be a good investment of time to take some online business courses. Some are even offered for FREE, so why not?
Thursday, February 26, 2009
Online Continuing Education
How do you get your continuing education? Do you take classes? Read? Online programs?
Many more people are getting their continuing education online. Do you ever consider getting an online master's degree (say an MBA, an MPH, an MEd, an MS, or an MA)? You've probably seen ads for Walden University, the University of Phoenix, Capella University, DeVry University, and others.
But did you know that some of the most prestigious universities offer online master's degrees? For instance, Johns Hopkins offers an online MPH program where the vast majority of the coursework is Internet-based. Emory University offers a similar online MPH.
Getting a master's degree has many benefits, even if you're a seasoned healthcare professional. There's a reason why executive MBA programs are so popular among senior-level corporate executives. There's so much you can learn in the classroom, but more importantly - there's so much you can learn from each of your colleagues and peers. If you're planning on a career change, then you may want to look at some sources of continuing education. Maybe it will be worth your investment to even enroll in a degree program.
Many more people are getting their continuing education online. Do you ever consider getting an online master's degree (say an MBA, an MPH, an MEd, an MS, or an MA)? You've probably seen ads for Walden University, the University of Phoenix, Capella University, DeVry University, and others.
But did you know that some of the most prestigious universities offer online master's degrees? For instance, Johns Hopkins offers an online MPH program where the vast majority of the coursework is Internet-based. Emory University offers a similar online MPH.
Getting a master's degree has many benefits, even if you're a seasoned healthcare professional. There's a reason why executive MBA programs are so popular among senior-level corporate executives. There's so much you can learn in the classroom, but more importantly - there's so much you can learn from each of your colleagues and peers. If you're planning on a career change, then you may want to look at some sources of continuing education. Maybe it will be worth your investment to even enroll in a degree program.
Tuesday, February 24, 2009
Master's in Medical Management
What do these 4 universities have in common?
The ACPE (American College of Physician Executives) is an organization that fosters the growth and development of physician leaders. You don't need to have a master's degree to be an excellent physician executive. However, there are many benefits of formal education in professional leadership, management, and business.
- Carnegie Mellon University
- University of Southern California
- Tulane University
- University of Massachusetts Amherst
The ACPE (American College of Physician Executives) is an organization that fosters the growth and development of physician leaders. You don't need to have a master's degree to be an excellent physician executive. However, there are many benefits of formal education in professional leadership, management, and business.
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