Tuesday, November 10, 2009

The Shorter, Faster, Cheaper MBA (BusinessWeek)

Have you considered an MBA? I've been researching MBA programs for several years now. There are so many different options! Perhaps you've seen some ads about accelerated MBA programs. Get your MBA in a year and save 50% on tuition. Sounds quite tempting, doesn't it?

The problem for physicians and other health care professionals is that most of us don't have a strong business background. If you were a non-traditional medical student and you came from a strong business background, then you're probably the exception and not the rule. Physicians who went straight from college into medical school into residency and into fellowship lack a tremendous amount of "real world working experience." The clinical setting is not like the corporate setting. Some experiences and principles may translate into the working world, but most physicians really lack a strong business sense until they open up their own practice and realize how to balance the art, science, and business of medicine.

Why are you considering an MBA? If you could freeze time and get an MBA for free, you'd probably do it, right? I doubt that most physicians can invest time for a two-year full-time MBA. You can probably devote some evenings and weekends for an executive MBA program. Some may be considering other forms of part-time programs and even distance learning programs.

Read The Shorter, Faster, Cheaper MBA on BusinessWeek.

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