Saturday, April 10, 2010

MD/MBA Careers in Consulting (part 2)

Highlights from the Association of MD/MBA Programs (AMMP) 8th Annual Conference.

Lisa Bard Levine, MD, MBA (Associate Director of Healthcare at Navigant Consulting, Inc.) spoke about consulting opportunities for MD/MBAs. During medical school at the combined MD/MBA program, she spent more time focusing on attending careers and less on residency. Then, she selected anesthesia as her residency. She left residency and wanted to return to consulting, so she joined the Bard Group (which was acquired by Navigant Consulting).

Healthcare Consulting Spectrum for Physicians
  • Physician Advisor (business development)
  • Content Expert (subject matter expert)
  • Strategic Consultant (integration and engagement, transformation of care, building strategy and programs)
Organizations are focusing today around performance and value.  Almost every project includes physician engagement.

So why consulting? Why did you go into consulting?
  • To improve the systems of care delivery
  • Timely opportunities and challenges
  • Breadth of experience and variety
  • Building relationships with clients
Why should MDs should study management?
  • Health care is a business
  • New marketplace will require more seasoned MD executive functioning and knowledge of strategy and operations
  • Understand the pressures facing all of the stakeholders
Lessons learned:
  • Ticket to anything you love
  • Prioritization: Major vs. Minor (MD vs. MBA)
  • Credibility factor
  • Keep an open mind (No straight path necessary for success. Take risks and face opportunities as they arise)
  • Generation Y
  • Listen to yourself and enjoy what you're doing
Questions from the audience:
  • Career progression paths in consulting?
  • Strategic consulting vs. business development?
  • Residency vs. no residency?
        Make sure to return in a few weeks to find a hyperlink to Dr. Lisa Bard Levine's slide presentation.

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