Get MBA paid for?

[reca]

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Does anyone know about any institutions that would pay for an MBA for a new psychiatrist? I'm interested in getting one but can't get over the sticker shock of top programs. I know in the corporate world, it's not uncommon for your company to sponsor your MBA in exchange for working for X number of years. I was wondering if this is a thing in medicine? Obviously not at small practices but at an academic institution or large hospitals systems?

 

[Sushirolls]

You are worth more to a hospital / health system as a practicing "provider." Why would they want to invest a degree like that in to you at the risk you leave the coal mine? Coal won't dig itself.

 

[nexus73]

My health system will reimburse for continued training something very low like $3000/year. I think it's aimed more at RNs --> BSN or CNA--> RN.

 

[TexasPhysician]

You are worth more to a hospital / health system as a practicing "provider." Why would they want to invest a degree like that in to you at the risk you leave the coal mine? Coal won't dig itself.

This is mostly accurate. With most of life, follow the money and you’ll find the answer. A physician with a MBA is detrimental to most companies. They want you making $ for them, not starting a business or wanting to transition out of medicine.

There are some programs that I’ve found in which they will pay your education and your children’s college for free while employed there. You had to be with the company 3 years to utilize this offer, stay employed there, and it was the worst paying job that I’ve ever seen. Financially it made more sense to have a good job and pay cash for you and your children to attend Harvard.

 

[Sushirolls]

Not exactly an MBA, but here is some healthcare training stuff at CCF:

Administrative Fellowship Program | Cleveland Clinic

Cleveland Clinic’s Administrative Fellowship Program is a post-graduate training program that offers outstanding opportunities in a variety of operational, clinical, strategic growth and international arenas. Under the mentorship and guidance of the program director and other executive leaders...

my.clevelandclinic.org

Global Executive Education | Cleveland Clinic

We inspire transformational leadership through world class experiential learning. Our alumni hail from more than forty countries. Will you be among the next cohort of leaders to join this prestigious network?

my.clevelandclinic.org

 

[deleted343839]

Does anyone know about any institutions that would pay for an MBA for a new psychiatrist? I'm interested in getting one but can't get over the sticker shock of top programs. I know in the corporate world, it's not uncommon for your company to sponsor your MBA in exchange for working for X number of years. I was wondering if this is a thing in medicine? Obviously not at small practices but at an academic institution or large hospitals systems?

I haven't seen this model and agree it doesn't make much sense from the institution's standpoint. More likely, you would pay your program tuition using professional development funds (if any) that you receive as part of your benefits package. Some institutions have tuition reimbursement programs also, but the payout limits are usually pretty modest. Even the more generous benefits I've seen wouldn't entirely cover the cost of most MBA programs.

 

[erg923]

If a medical director with Humana...I know they used to do this.

I agree that otherwise there would be little incentive for an institution to do this. A typical clinical job makes money from you and your services, not your potential advancement, knowledge, and achievements. And in academics, plently of your fellow psychiatrists can (and do) advance to lead departments (and their budgets) or work with funding/stakeholder agents without an MBA. This happens all the time.

I think this make the most sense for those in managed care or those with, uh..."hoop dreams, coach"

 

[michaelrack]

Some universities used to allow faculty to take courses for free, or reduced cost

 

[ArdorAyurveda]

I think this make the most sense for those in managed care or those with, uh..."hoop dreams, coach"

This is one allusion that I’m not familiar with...what does this mean?

 

[Sushirolls]

This is one allusion that I’m not familiar with...what does this mean?

Here you go, read some of the definitions:

Urban Dictionary: hoop dream

hoop dream: A dream very unlikely to be fulfilled, or any wild or fantastic notion, synonymous with the term 'pipe dream'.

www.urbandictionary.com