Over the weekend, I attended the Association of MD/MBA Programs 8th Annual Conference in Boston. Business skills are becoming more pertinent to healthcare all the time. How much business training do you need? Would you get an MBA?
You can listen to me talking about MBAs for MDs on ReachMD by clicking here.
If you’re a physician interested in a medical management role, you may want to pursue an MBA degree. Having an MBA shows initiative and it provides physicians with the perspective to think strategically as physician executives. More medical schools are now offering joint MD/MBAs. And, we’re seeing an increase in executive and part-time MBA programs that are designed exclusively for physicians.
Executive MBA programs can be completed over 2 years, but you’ll have to give up 2 weekends each month for classes. The classroom experience revolves around collaborative group projects and you’ll mainly interact with seasoned business executives. Most programs will require you to spend at least one Friday night on campus each month so that you can work with your classmates on late-night projects.
Part-time and online MBA programs continue to attract many physicians. Some of these allow you to get an MBA in 2 years, but others provide much more flexibility so that you can slowly complete an MBA over 4 or 5 years. If you feel comfortable learning online, this could be a great option for you. The American College of Physician Executives has an ongoing collaboration with the University Of Massachusetts Amherst Isenberg School Of Business to offer physicians a convenient way to get an MBA online.
The Association of MD/MBA programs had its annual conference in Boston April 9 through 11. I attended and covered the meeting on my blog. Don't forget to participate in the ReachMD Poll. Have you considered pursuing an MBA? Tell us, and find out how your thoughts on getting an MD/MBA fit in with your colleagues'.