Md/mba

[Warped Apostle]

What is your opinion on a MD/MBA program? The medical school I will be attending next year offers an MD/MBA program in only 4 years. Many of these programs seem to be tailored for physicians who want to work in some type of hospital administration, however I am interested in this program because I would like to learn how to run my future practice and also understand the business world.

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[Encephalectomy]

IMO an MD/MBA doesn't make a lot of sense, and only makes any sense if you want to end up in hospital administration (and if you go into medical school wanting to be a f!#%ing hospital administrator then I hope that God has mercy on your poor poor soul). I don't really think that an MBA is necessary or even that helpful with regards to running a practice (unless you are planning on it being some megagroup practice). You're probably better off learning from successful people in your field of interest as many things even with regards to running a successful private practice are fairly field specific.

 

[FamilymedMD]

While I agree that it makes no sense to go to medical school with the goal of being a hospital administrator, I can't agree with your comments about the value of a business education for someone considering private practice.

The days when you could sign on with an established practice and learn the very narrow business skills they use in the world of third party payer medicine are gone. The old business models in private practice are dying fast. Innovation and a entrepreneurship will be needed to develop new business models. A business education could be useful in this environment.

 

[Encephalectomy]

I see what you're saying, and if you're dead set on being an innovator in how health care is delivered/payed for then I agree that having an MBA would be useful. Realistically, the things that currently differentiate well run practices from inefficient ones are not things you need an MBA to deal with. I doubt whatever they are rolling into a four year MD program with no extra time is going to really do much more than add an extra degree and some extra tuition to your medical school experience. But hey, thats just my 2cents, I think the OP should talk to people at his school that are in the joint program and get a feel for what it adds to their education.

 

[Warped Apostle]

Do residencies look more favorable towards research or the MBA degree? Because if I choose one, I will not be able to pursue the other.

 

[bronx43]

Do residencies look more favorable towards research or the MBA degree? Because if I choose one, I will not be able to pursue the other.

MBA most likely won't help for getting into competitive residencies. Research would be the better bet.
With that said, if you have an interest in business administration, then go for an MBA. If not, then don't. Getting an MBA isn't about adding a few more letters to adorn your resume. It's about networking and adding additional skill sets that you can leverage to enhance your career.
And like encephalectomy said, a 4 year combined MD/MBA program won't teach you enough for it to be useful in a clinical or business environment.

 

[Encephalectomy]

Research on some level is more or less required for some of the more competitive specialties. I think that the NRMP data shows that additional degrees other than a PhD don't increase your chance of matching in competitive specialties. I definitely wouldn't get an MBA to help you get into residency. Doing something like a howard hughes or dorris duke fellowship with research in your field of interest between third and fourth year would definitely be a better way to go if you're interested in time off. If not, you can still get clinical research done while in school/over the sumemr between 1st and second year.

 

[phillyboy17]

Would it still be possible to pursue one of those fellowships if one was in an MD/MBA program? Would a program like this prevent you from doing any substantial research that would allow you to pursue competitive specialties?

 

[C5toC9]

yes, you just end up taking more and more time off