DO/MBA joint degree

[fiery]

I've heard about MD/MBA joint degree and also about companies hire MDs without the MBA degree as consultants. Does the same goes for DO degree? I just heard about this from a friend who was considering on not doing his residency and getting an MBA to work as a healthcare consultant. Any input?

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[Dreamer]

If I remember correctly, I saw something like DO/MBA on NYCOM webpage, if you go to www.nyit.edu and then to the health professions you will find it. Beware their webpage is little bit confusing and I did not find it greatly informative, but you'll find the sceleton of information

 

[dude7]

MSUCOM also has a joint DO/MBA program I believe. I am not sure of the benefits when working for a corporation, but individually, you will manage you money better as well starting your own practice by being more financially alert.

 

[faeryprincess]

PCOM also offers this dual degree program. might be a good idea if you want to have your own practice some day...

 

[mmcnemar2004]

At UHS I'm actually doing the DO/MBA degree. It's fun I recommend it.

 

[nmehta]

to answer liljewels, yes, there have been docs who got frustrated with the current redtape of medicine, and saw opportunity in the business world and jumped on it. Some had MBAs, some didn't. I personally know of someone who graduated from harvard med and then went to Mackenzie consulting, and now works for a biotech venture capital company.

However, do not think that because you have an mba that you will be able to do this. These schools may have good reputations among the medical community, but their MBA schools don't, and therefore i think you will find it hard to get into consulting from this. Trust me, the large consulting firms are quite focused on what schools they recruit from.

If you have an interest in business or wish to learn about health care industries and management, i say go for it. but don't expect to swooped up by some consulting firm based purely on your mba from one of these schools.

I hope this didn't come out too harsh.

Neel

 

[mmcnemar2004]

The MBA program that I am in is at Rockhurst University. Rockhurst is in the top 15 schools in the midwest according to U.S, news and world report. The program is Certified in the United States as well as Internationally. The program is also geared directly for physicians. The info is PRICELESS! Don't let anyone tell you otherwise. Like it or not Medicine is a business and docs who choose to avoid that end up loosing the freedom that they had just 15 years ago. From projecting your monthly student loan payments to learning how to increase patient care by using EMR\HCIT and negotiating your capitated contracts with HMO's, this is good stuff. Did I confuse you? On month ago, that would have confused me. Priceless man Priceless.

 

[mmcnemar2004]

losing sorry about the typo

 

[Halaljello]

What can you actually do with the joint DO/MBA degree? I read somewhere that u can do consulting, but what exactly do you do? where do u work, what kind of work do you do and how well does it pay? do you even get a chance to practice medicine?

also, i'm finishing up my undergrad degree in finance and hope to be attending med school next year. If i do decide to pursue the joint DO/MBA degree would I be a step ahead than most other students because of my business background? if so will I be able to get credit for some intro mba classes such as accounting econ bussiness adm, etc that were prereqs for my degree?

Thanks!

 

[Popoy]

I can see someone with an MBA degree to help in health care management and other administrative duties in a hospital or your own private practice....

 

[nmehta]

Halaljello,

Consulting can vary from specific biotech to general benefits consulting. You can choose the type of industry you wish to work in as different companies specialize. Most people don't practice, but again, this can be tailored to your wishes.

Your salary can vary with your background, experience, type of clients, and the company you work for. I have seen salaries range from 60k to 500k for established partners per year.

Generally, the MBA degrees are more management oriented, and will gear you for what has already been stated above, administrative roles. To go into consulting, you may not even need the MBA, just a clear demonstration of potential and intelligence. MacKenzie, one of the top consulting firms, spends as much time recruiting from PhD programs as it does the nation's top MBA programs.

As for your background, it may allow you advance standing at certain schools, but not all. However, the experience and knowledge that you have gained from the degree should come in useful.

My experiences in consulting have led me in different directions. My first project was to develop applications for a newly developed drug that had very limited market potential. I researched journals and interviewed experts, and finally presented my results to the company stating that there were other drugs that could benefit from the unique properties of this new product. My second project was more public health oriented as I was hired by a city public health department to write an economic proposal to the city legislature, stating the importance of good mental health. I used my undergraduate economics degree and business experience to show how poor mental health can affect residents, businesses, and the government financially.

I hope to pursue a MD/MBA at Tufts if I am accepted off of the waitlist. If you have more questions, feel free to write again, or email me.

Regards,
Neel

 

[fiery]

Thanks everyone for the info! I appreciate all the replies. There's a lot of schools that offer the mba degree. Does it matter where you go if you had a DO degree? Have anyone heard of Barrington University? It's an on-line distance learning program. There are no classes & everything is done on-line. It's a study at your own pace program and most people complete their degree in 12-18 months. Any input on this would be helpful. I think the website is http://www.barringtonuniversity.com
thanks!

 

[TIGER STYLE]

mmcnemar:
I am starting UHS in August and am interested in the MBA track. May I ask if it is difficult to manage the MBA requirements with your DO schedule? This is my only concern, since I want to do well and not just "barely getting by"...Thanks...

 

[mmcnemar2004]

Well, your summers are taken up. If you want to do research this can be a prob. In this program you graduate at the same time that you do in med school. It doesn't interfere with residency or clinicals. (This is the UHS/Rockhurst program I don't know about anywhere else.) With this degree either, consulting is an option, best-business practices either solo/group, or hospital administration. Some that I know from Cerner Corp., do their consulting along with prcticing Medicine. Rockhurst will take you to see all of this technology, its use in practice, the advantages and disadvantages of all of it. For example, last week we went to an area hospital with the entire medical chart digitalized. Everything was stream-lined it was neat. I think the best part with be negotiating contracts with HMO's or how to make a more efficient practice. I would do it again in an instant. The assignment work is not very straining and the tests are nothing like med school. The point of this program is to learn the good stuff, and the parts not real relevant to physicians are not as emphasized.
Hope this helps. If you want more info feel free to e-mail me at [email protected]
Good luck on everyone's education,
Mark

 

[shep]

An MBA is a GREAT degree to have. After doing mol. bio. research for four years I went back to the univ. of Denver and got an MBA with specializations in finance and IT. Honestly, it was the smartest thing I ever did. I now understand how the business world thinks! I have been told that I will be way ahead of the game when I enter the world of health care (as a DO from AZCOM). I know a couple of MDs that went into the corporate world as consultants. They were offered a healthy salary ( they had 5-10 years of expetience in medicine though).
My advice is, do it. I'm not a big fan of the one year programs simply because I know people that used them and I wouldn't put them on par with students from the normal two year programs. But, most of them were slackers and probably didn't study anyway.
As far as prestige goes, obviously a Harvard MBA looks better than an MBA from a community college; but who cares. Combining an MBA with a medical degree makes you a fairly unique commodity in the job market.
The business knowledge you will gain from the MBA program can help you in all aspects of your life and career. I use it every day.

 

[mmcnemar2004]

Well said shep.

 

[vdubpower]

does comp have any mba programs or somethign we can do

 

[Aloha Kid]

The University of Pheonix has an on-line MBA degree they offer. It's basically for working professionals. 3/4 of the time is spent learning at home while 1/4 of your time must be spent on campus. Sounded like a good deal if anyone is really interested in the MBA title.