DMD/MBA Programs?

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DynamicDental

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Hi,

I was just wondering if anyone had any insight about these DMD/MBA programs? Is it worth it? I have not been able to collect any recent data about them. (Specifically Temple) But in general is a program like this worth pursuing? From my understanding, the tuition would be the same, but one would be earning both degrees at the same time. Would I just be putting myself through too much additional work for stuff I could learn after dental school on my own? What are your thoughts? Thanks

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You should reallllly check on that because I am almost certain tuition is not the same. At least it is not at Michigan's program. And you have to take the GMAT or GRE as well as the DAT. And it is 5 years instead of 4. And it is a waste of time and money if your plan is to work in private practice or essentially be a clinician. This program is designed for people who want to be upper management/CEO of somewhere like Aspen Dental, work in healthcare consulting, be in upper management in dental sales, etc.

Like I said, the information I have could very well be outdated. I couldn't really find any other than one web page from like...2004? Which I believe did state that you had to take the GRE/GMAT like you said. Thank you for your insight. I will look more into it, but if it's only useful for what you described than I probably will not pursue it. Do you know what things I should look into that would help with the business side of a practice? Or should I just worry about dental school for now, and then the business aspect later?
 
Probably not worth it if you want to practice clinical dentistry. You don't need an MBA to be successful.
 
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Probably better off (and cheaper) taking some business related Dental CE courses.


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Some things I plan on doing to prepare for private practice (if I decide to even go that route):
  1. Find a mentor early on. Someone who runs / has run a successful practice in a market similar to yours
  2. Keep up to date with the dental community. CE Courses, ADA involvement, DentalTown perusing, listening to Dental podcasts, etc.
  3. If finance and marketing make your brain hurt, consider enrolling in a few courses when you have more time. For example, you are an HPSP recipient. When it comes time for the 4 year payback, see about taking night courses relating to some aspect of marketing, finance, and accounting.
I don’t think a DDS/DMD, MBA is useful for someone planning on opening a practice or two.
 
Going to Penn in the fall and they offer a DMD/MBA program at no additional cost from what I remember from my interview day (if I’m wrong, a current student please correct me). Do you guys think that would be worth it if it truly doesn’t cost anything more?
 
Going to Penn in the fall and they offer a DMD/MBA program at no additional cost from what I remember from my interview day (if I’m wrong, a current student please correct me). Do you guys think that would be worth it if it truly doesn’t cost anything more?
Nobody does the DMD/MBA. You have to pay tuition for both the dental school and Wharton separately (another 75K). Some of the other degrees (like MPH) are covered.
 
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Going to Penn in the fall and they offer a DMD/MBA program at no additional cost from what I remember from my interview day (if I’m wrong, a current student please correct me). Do you guys think that would be worth it if it truly doesn’t cost anything more?
unfortunately you have to pay tuition at Wharton for the business school. Upenn does offer 5 masters programs at no extra cost (public health, law, biotechnology and 2 others I cant remember). I specifically asked about the business too but it will come at your own cost (also you have to admitted separately into the program in the first place)
 
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Nobody does the DMD/MBA. You have to pay tuition for both the dental school and Wharton separately (another 75K). Some of the other degrees (like MPH) are covered.
unfortunately you have to pay tuition at Wharton for the business school. Upenn does offer 5 masters programs at no extra cost (public health, law, biotechnology and 2 others I cant remember). I specifically asked about the business too but it will come at your own cost (also you have to admitted separately into the program in the first place)
Thank you both! As for the other degrees that are not at an extra cost like the MPH, do people do them?
 
Thank you both! As for the other degrees that are not at an extra cost like the MPH, do people do them?
Yeah at UPenn people do them. I’m sure at other schools they do too. Met someone at my interviews who did dual with masters In law. He’s OMFS and said his drive was to make his resume look good.
 
Yeah at UPenn people do them. I’m sure at other schools they do too. Met someone at my interviews who did dual with masters In law. He’s OMFS and said his drive was to make his resume look good.
Really curious as to how a masters in law would make someone a better OMS candidate
 
Really curious as to how a masters in law would make someone a better OMS candidate
It’s not about master of law making you a better clinician or surgeon. However, it can definitely make an applicant stand out. This guy basically had a 4.0 and amazing amazing curriculars. Great chance at any OMFS program in the country
 
Warning: This post began as a response to your question but I quickly went on a huuuge tangent.

I'm also extremely interested in MBA/DMD programs. I am a business undergrad, PMI certified project manager (lean/six-sigma, etc.) and am really going into dentistry with a business first mentality.

The goal would be to find and exploit opportunities in today's industry. I think this is especially valuable especially because, as corporate and DSOs become more and more prevalent, opportunities are sure to abound. By my reasoning, an MBA would definitely make it easier to get into this side of dentistry.

Even if that doesn't work out, I definitely see myself starting (or at least attempting to start) a chain of offices. I would say if you are also business inclined and are thinking similarly along these lines, DO NOT WAIT until after dental school (or even until starting dental school) to begin going down this path. Much more valuable than an MBA is a connection in the right place at the right time. Contact industry leaders; I have found that successful consultants are often willing to spend their "free consultation" with me. I haven't been too successful in securing a long-term mentor yet but imagine that that might become easier towards the end of school.

I have 2-3 relatively young successful entrepreneur aunts and uncles (mid 7 figures) and they have asked me many times why I wouldn't rather just borrow several hundred thousand from them and start developing successful practices now, saving myself four years of debt and school (my dad's also a dentist so there's some familiarity). My rationale for going to dental school is that starting and managing practices becomes not only infinitely easier (first-hand experience, moral authority when coching/training associates, etc.) but much cheaper when you can put in your own hours building it, especially early on. I'm not at all afraid of putting in 5-6 day work weeks, 7-7 for the first several months (this is essentially what you do for several years as a business grad in corporate America anyways) but paying an associate(s) to do that kind of labor gets expensive quick especially because dentists are used to a very luxurious schedule (see: 4 day work weeks, !?) relative to other professions. Also, from firsthand experience, for DSOs to be truly successful, maximum (and I mean MAXIMUM) efficiency is essential in both training and operations. IMO, it would be difficult to compete with and beat out other competitors (who are seeking to do the exact same thing) without having firsthand experience with operations, case presentation, procedures, etc. You need to have a significant competitive advantage and that, I imagine, would be difficult to develop from the outside looking in.

Of course, there are a few business men turned dental moguls sans-DMD/DDS but from what I can tell EVERY ONE started their DSOs in the 90s, when corporate dentistry was brand new (see Bob Fontana) and competition was non-existent. There was so much time to learn and be sloppy; you could afford to make mistakes and learn by trial and error. Today, a new corporate office opens literally every 4-6 months in my small hometown (pop. 40,000). Dentists open new practices in the wrong location and (due a lot to inefficiency, I think) can go bankrupt within 2 years if they don't cut their losses.

Grads looking to be solo practitioners are in for a rude awakening if they think what worked for the previous generation will still be competitive for them, imo.

Anyways, all of this is to say that an MBA is only as valuable as your goals and motivations are. If you are not already thinking (or beginning to) like a businessman/woman, then the business side of dentistry probably isn't for you. Out of almost all graduate degrees, MBAs have both the highest ceilings and the lowest floors.
 
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