What to do with an MD/MBA

[AznDoc]

Hey guys/girls,
I was just wondering what a physician would do with both degrees? Do they enter the business world as a consultant, do an administrative job at a large hospital, or enter private practice? Also, in order to be eligible for an MBA program wouldn't you have had to taken pre-req courses such as accounting, economics, financial statement analysis, etc? I am heading into my freshmen year of college this fall and am interested in keeping my options and interests open. If someone could shed some light on this situation I would greatly appreciate it. Thank you.

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[AznDoc]

As you can tell, I did not read "the first post". Please forgive me as I am just getting over foot-in-mouth disease. However, if there is anything that you would like to add please feel free.

 

[mward04]

Ultimately, I think you can do anything with this particular combination of degrees, it's a matter of what you want to do. That's the great thing about the versatility of this dual degree. I know a number of MD/MBAs that have set up non-profit clinics with their MBA knowledge (Regina Benjamin in Louisiana and Maria Chandler at UC-Irvine). However, there are always people that go into it for the money...that's their choice.

 

[Energon]

the www.md-mba.org website is very informative

 

[Aucdoctobe]

I'll list a number of things:

1. You can work for an insurance company as a consultant. In other words, you can work with the actuaries and underwriters in determining physician reimbursement. You will make a lot of money doing this.

2. You can go into private practice. It's amazing what doors a little business sense can open for you. You will make more than other doctor's in your specialty.

3. You can work for a biotech company as an executive. There can be some strong advantages. Especially when you receive executive compensation in the form of stock options -- there is no limit to this reimbursement! Plenty of people become extremely rich.

4. You can establish "nonprofit" corporations. You can perform some rather neat tricks with accrual accounting.

5. You could establish your own biotech company. Hey sky's the limit.

6. You can work as a hospital administrator. MBA/MD's are coveted for this position.

7. You can become the director of a university program. Efficient business sense is needed everywhere -- even in academics.

8. I talked to the person who was a "negotiator." He negotiated compensation between doctor's and insurance companies. He made a lot of money doing it!

9. You can open up plenty of other business ventures.

 

[AznDoc]

I would like to thank all of you for the advice given. It really gives me more direction as I continue to do homework on these programs. Thanks again.