Getting A BS/MBA

[Missdetermined]

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My ultimate goal is to become a psychiatrist. I know I have a long road ahead of me but eventually I would want to open up a private practice and I've been reading up on the details and experiences lately. Basically my question is would getting a MBA help in the process of setting up a private practice?
What are the benefits and concerns of getting a MBA/BS? The BS would be in Psychology.

 

[michaelrack]

Basically my question is would getting a MBA help in the process of setting up a private practice?
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NO. Some basic business knowledge is helpful, but an MBA is overkill unless you want to lead a large organization.

 

[whopper]

The former PD of my fellowship had an MBA. The guy now heads one of the largest hospitals in the local tri-state region, previously was the chief clinical officer at the Lindner Center (a private psychiatric center in the Cincinnati area, and considered a top private clinic), and used to be the chief forensic officer at the place I currently work.

You could do incredible things with an MBA, but you also got to have the drive to push yourself to do it. They just won't come to you. The PD I mentioned is one of the best doctors I know, and it's not just his MBA, but his charisma, leadership, friendliness, clinical skills, and hard work that got him to where he is. Even as a "regular" psychiatrist, the guy was winning national level awards for his quality of work in several areas such as teaching.

As for my fellowship, it was a loss to see him leave as PD, but we got one of the best forensic psychiatrists (and ranked one of the top physicians in the country) to take his place who also happened to be a good teacher in addition to having impressive credentials.

 

[billypilgrim37]

And doing an MBA combined program early before you've had much real world experience is of limited utility. It's bad enough for the folks who do combined MD/MBAs, but combined with an undergrad sounds almost useless. And if it's not from a top 20 or so MBA program, you may be better off working at taco bell for a year in terms of learning something useful or having a credential that would be valuable.

 

[Missdetermined]

Thanks for the replies, any specific degrees recommended or area of business to study helpful towards building a business?

 

[notdeadyet]

any specific degrees recommended or area of business to study helpful towards building a business?

You can read books and take extension courses and (most importantly) work for others. Choose a business of the size and scope that you'd one day like to build and learn from the inside.