Healthcare MBA vs Executive MBA

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canuck2006

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What is the difference between a healthcare management MBA, an executive MBA and just a regular MBA? Is there any one type of degree that would be best to pursue for someone interested in going into medical admin?

I was thinking about doing an MBA during my residency - parttime over 4 yrs, but the question is whether at a place like NYU Stern, or through CUNY (offers a healthcare MBA with Mt Sinai School of Med), Johns Hopkins, etc?

Do you think its practical to do an MBA part-time during residency?

Any advice would be appreciated.

Thanks!

I also forgot to add - what are your thoughts on an online MBA? Is UT's online program dodgy?

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I will give my 2cents from what I know from my limited research in MD/MBA.

What is the difference between a healthcare management MBA, an executive MBA and just a regular MBA? Is there any one type of degree that would be best to pursue for someone interested in going into medical admin?

When you go for your MBA degree, you get to specialize in a field...an area of study. Healthcare, finance, accounting, entreupreneurship, risk management, e.t.c. So health care management would be best for someone going into hospital admin. Also executive mba (emba) are for executives of business/firms/hospitals who want to add more to their arsenal to better perform their job. Im sure to apply for this, you would have to have experience as an executive.

I was thinking about doing an MBA during my rads residency - parttime over 4 yrs, but the question is whether at a place like NYU Stern, or through CUNY (offers a healthcare MBA with Mt Sinai School of Med).

Do you think its practical to do an MBA part-time during residency?
Many schools offer MD/MBA dual degree. Unless you have finished medical school, you should probably combine both degrees if you can. Most places, if the school (med & business) offer the combo, you might go to med school for 3 yrs, then 1 yr of b.school and finally a last combined year to earn both degree in 5yrs. If you really care, finish your residency, and if you can, start a part time program when you're done, but that's just my opinion. Also, if you are interested in online degrees, use this only as your last resort. Unlike medical school, where you go to business school has much more of a influence on what jobs you can find, or what jobs you can easily apply for. So if you can, and because Im sure medical school will make you better applicant, go to the best business school for your money, time and location.

My dream job is to do rads but also work hospital admin - not sure if an MBA is the starting point to get to this goal - and whether or not it is necessary.
Ahh, my dream job is to work in cardiology but also be an hospital admin...do you have access to my mind or something...Well, I also want to try to be a consult for a medical firm or pharmaceutical company...but thats just being greedy.

Any advice would be appreciated.
Hope it helps. Like I said, my knowledge is limited. I'm currently on my year 1 of 2 of my self imposed time off before medical school and I'm interested in getting an MD/MBA so I've done some extensive(but not complete) research.

No problem

I also forgot to add - what are your thoughts on an online MBA? Is UT's online program dodgy?
Oops, answered this already
 
When you go for your MBA degree, you get to specialize in a field...an area of study. Healthcare, finance, accounting, entreupreneurship, risk management, e.t.c. So health care management would be best for someone going into hospital admin. Also executive mba (emba) are for executives of business/firms/hospitals who want to add more to their arsenal to better perform their job. Im sure to apply for this, you would have to have experience as an executive.


Many schools offer MD/MBA dual degree. Unless you have finished medical school, you should probably combine both degrees if you can. Most places, if the school (med & business) offer the combo, you might go to med school for 3 yrs, then 1 yr of b.school and finally a last combined year to earn both degree in 5yrs. If you really care, finish your residency, and if you can, start a part time program when you're done, but that's just my opinion. Also, if you are interested in online degrees, use this only as your last resort. Unlike medical school, where you go to business school has much more of a influence on what jobs you can find, or what jobs you can easily apply for. So if you can, and because Im sure medical school will make you better applicant, go to the best business school for your money, time and location.
This is pretty well said. Except not all MBA's require a "concentration" especially with dual degree because they cut out alot of the extras and allow substitution of classes for medical school credit so you don't get to do alot of the electives. Healthcare MBA's also give pretty good background on the workings of healthcare system, financial and history aspects included. You don't need a health-care MBA to go into hospital admin, just to let you know. You probably don't even need an MBA but I can tell you that having the basic marketing, finance, accounting, econ background WILL help you though.

Part-time MBA's in residency are good in theory but timewise I wonder if people can really do it. Also, you might do the MBA/MD but then not use the knowledge for a few years. So you might forget some of the main concepts if you aren't practicing them (with no previous business experience). There are many different takes of when the best time for joint degree is to get to it. I think eMBA's are a waste of time in some regards, they are really just for upper level management strategies from what I've seen out of them.

I really advocate more physicians having business knowledge as many of them are clueless on how to run their practices (even basic concepts!).
 
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This is pretty well said.
To get the approval of msheaddoc, wow. Does this day get any better? Really, hopefully one day, I can come and tell my personal story and hopefully influence the future generation. Till then, I'll sit and learn from those ahead of me. Thank you mshheaddoc. Keep up the good work.
 
I am in an executive MBA program at Johns Hopkins. As a practicing physician, no business experience was needed to apply. The application was a piece of cake. No essay. No GRE/GMAT or any other examination was required.

Classes are all lecture format in the evenings, so it is possible to take classes and still be a full-time clinician.

Highly recommend the program.
 
I am in an executive MBA program at Johns Hopkins. As a practicing physician, no business experience was needed to apply. The application was a piece of cake. No essay. No GRE/GMAT or any other examination was required.

Classes are all lecture format in the evenings, so it is possible to take classes and still be a full-time clinician.

Highly recommend the program.
Do you mind sharing your experience in the program? I'm interested to hear how its curriculum is formated and the like ... thanks! :) All the ones I've seen weren't worth the money you spent ...
 
Well, you only take one class at a time, so it takes 4 years to complete the entire curriculum. Hopkins has a campus in Washington DC in Dupont Circle which is where I go for classes. They also have classes at Washington National Hopsital as well as Baltimore, MD.

So, here is the curriculum:

Year 1:
Health Care and Business: Theory and Practice
Accounting
Managerial Finance for Medical Services
Leadership and Organizational Behavior in Medical Settings

Year 2:
Finance for Medical Services II
Foundations for Moral Leadership
Moral Leadership and Global Economy
Moral Leadership and Corporate Citizenship

Year 3:
Medical Economics
Medical Economics II
Clinical Practice Improvement
Medical Informatics
Strategic Planning in Medical Organizations

Year 4:
Marketing Management in Medical Organizations
Legal Issues in Medicine
Negotiation
Capstone Itegrative Field Experience

Electives to be Completed Anytime
Statistics
6 additional credits of approved courses

Did I mention that all these courses provide CME as well? So the tuition is actually quite cheap given the courses go toward an MBA as well as CME.
 
See in my book that is a true MBA though, some of the eMBA's are only a few weeks or a few months (geared towards CEO's and the like). You are taking almost 20 classes! John Hopkins has some amazing class one of which I was going to try to take one summer but it was quite expensive (it was a health policy class). So anything at JH is def quality in my book. I like how its geared towards health professionals as well.
 
I am in an executive MBA program at Johns Hopkins. As a practicing physician, no business experience was needed to apply. The application was a piece of cake. No essay. No GRE/GMAT or any other examination was required.

Classes are all lecture format in the evenings, so it is possible to take classes and still be a full-time clinician.

Highly recommend the program.

My brother did the Hopkins exec MBA as well and was very satisfied.
 
I am in an executive MBA program at Johns Hopkins. As a practicing physician, no business experience was needed to apply. The application was a piece of cake. No essay. No GRE/GMAT or any other examination was required.

Classes are all lecture format in the evenings, so it is possible to take classes and still be a full-time clinician.

Highly recommend the program.


Is JHU MBA AACSB accredited? If it is not, then how is the quality of the program perceived? Does the name of the school pull weight?
 
Is JHU MBA AACSB accredited? If it is not, then how is the quality of the program perceived? Does the name of the school pull weight?

(JHU, not the Arizona school) Carey School of Business list "Accreditation: Johns Hopkins University is fully accredited by the Middle States Association of Colleges and Universities, the accrediting body for all colleges and universities in the mid-Atlantic region." --> http://carey.jhu.edu/aboutus.cfm. Its a new full time business school, but when it was a part-time program, I did know that it was highly considered, even for a part time program.
Does the Hopkins name carry weight?
Hmm, let me answer that question after I start the med school '08 cycle.


Upon Further Research, I found this.

Most of Hopkins schools are accreditated this way also. (Not the Med School though)

http://carey.jhu.edu/partners/accreditation.cfm
Accreditation: How Carey Business School is modeled to bring you expert faculty
Johns Hopkins University is fully accredited by the Middle States Association of Colleges and Universities, the accrediting body for all colleges and universities in the mid-Atlantic region. Sometimes students interested in the MBA program ask us if Carey Business School is also accredited by the Association to Advance Collegiate Schools of Business (AACSB) and whether the program is included in annual ranking surveys. While Carey Business School is an AACSB member and participates in a number of its activities, our innovative approach to graduate business education is different from the traditional AACSB business school model and, by design, does not conform to AACSB accreditation or ranking practices. Because we have not sought AACSB accreditation, we are not included in the annual rankings, which focus on AACSB-accredited schools and programs.

Our MBA program was structured with the AACSB guidelines on content in mind. The way in which our program differs from the AACSB format is in our extensive use of experts from the business community as faculty, in addition to our full-time academic faculty. In fact, AACSB's own task force on management education has called for greater involvement of such talented practitioner faculty; something we have been doing from the start. We believe that this is a strength of the program – and our students and alumni agree. We encourage you to learn more about how the Johns Hopkins MBA has been designed with professionals seeking real world experience in mind, and to make the MBA choice that's right for you.
 
I am in an executive MBA program at Johns Hopkins. As a practicing physician, no business experience was needed to apply. The application was a piece of cake. No essay. No GRE/GMAT or any other examination was required.

Classes are all lecture format in the evenings, so it is possible to take classes and still be a full-time clinician.

Highly recommend the program.

How much work experience do u need for the eMBA @Hopkins?
 
How much work experience do u need for the eMBA @Hopkins?

No work experience other than you must be an attending which makes sense. Much of the materials require one having "worked" out in the real world as a health practioner... ie, dealing with insurance companies, office management, etc.
 
hi aggernodi

Curious as to your motives and goals related to the MBA. I am a private practice radiologist for the last 8 years. While the job is lucrative, I have serious concerns it will be sustainable over the long term. I am considering an MBA for several reasons. If i continue to practice radiology, it will allow me be be more effective when dealing with insurance companies, hospitals etc. I would be interested in pursuing other options, however, like consulting or entrepreneurial pursuits or perhaps administrative options with insurance or hospitals. What are your thoughts?
 
hi aggernodi

Curious as to your motives and goals related to the MBA. I am a private practice radiologist for the last 8 years. While the job is lucrative, I have serious concerns it will be sustainable over the long term. I am considering an MBA for several reasons. If i continue to practice radiology, it will allow me be be more effective when dealing with insurance companies, hospitals etc. I would be interested in pursuing other options, however, like consulting or entrepreneurial pursuits or perhaps administrative options with insurance or hospitals. What are your thoughts?

Truthfully, I had several reasons for pursuing an MBA once I was out in private practice.

1) I enjoy private practice and wanted to make it as efficient and cost-effective an office as possible.

2) Should I ever want to do something other than being a clinician, I have a resume that makes me as marketable as possible for other professions, most notably being something in hospital administration or consulting.

Now that I've completed almost 25% of the courses, I can say that it has been a great experience and has already definitely improved my office management from both a financial as well as orgnazational standpoint. I've cut the workload of the office staff to the point I can potentially get rid of one person and cut costs by almost $2000 a month from waste (I felt physically ill when I realized how much waste was going on ). All directly attributable to what I learned from classes. Office morale is even better and patient satisfaction is way up (due to workflow efficiency changes allowing average patient wait times down to around 8 minutes before seeing the doctor).

Also, it has given me a greater understanding of why insurance companies are the way they are and I no longer consider them the great evil of the medical world. I actually do understand their point of view... though it doesn't help me specifically... it doesn't steam me up anymore when dealing with them. They really do have their reasons.

I do admit, Johns Hopkins really taylor the classes so it applies to health professionals for both immediate and direct applications. Homework is actually to apply, study, and report changes made in the office! I daresay the first year classes may be all one really needs as the 2nd thru 4th year classes probably have greater application in hospital administration instead of private office practices.

Hope this helps.
 
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