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MBA during or orthopedic residency

Discussion in 'Med Business [ MD/MBA, DO/MBA, DDS/MBA ]' started by pimpmybones, Feb 26, 2007.

  1. pimpmybones

    2+ Year Member

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    Hello everyone..i have read through a lot of the threads posted and it seem like you all have a lot of good advise to offer....So can you offer me some advice on this?

    Im starting my orthopedic residency in July and may have the oppertunity to complete an evening MBA in a period of 3-4 [email protected] a top 5 Bussiness school..

    I love Ortho and plan to practice orthopedic surgery. I dont want to work for any health care company as a consultant or anything of tht nature I want to operate on peoples bones!!!!!

    However I am very bussiness minded and there are a lot of different " bussiness projects " tht i would like to pursue after residency and fellowship..one of which is building and directing the operation of a hospital in another country...

    Is an MBA necessary for my future endevors?

    If so do i need to go to a good school or is it all the same @ every business school?

    Is this even realistic as a ortho resident?

    Sould I wait untill i finish residency then do an MBA then fellowship??

    Is there somewhere i can learn how to do such things without actually getting a MBA?

    Thanks for all your help please forgive my ignorance..
     
  2. whistler

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    I'm sorry that I can't answer your question fully as I'm only a third year. But my advice is to first ask someone on the ortho faculty who can comment to its feasibility along with a hectic residency schedule but make sure they aren't one of the those anti-business doctor types. Even better would be to ask another ortho resident doing the MBA, but I'm sure you would have if you knew of one. Personally I think the MBA is an great idea for what you want to do. Hospitals cost a lot of money, and if you want funding, you need to learn the language of money. Similarly, every MD/MBA I've talked to has said it really opens your eyes to biz opportunities around you in healthcare that you wouldn't normally see without such a background. A good biz school would in my opinion be essential for you with such grand biz aspirations, because while the education is the same everywhere, the networking opportunities are not, especially in venture capital, which you will need. While I'm young, I'd also recommend getting it sooner rather than later, because once you have a wife and kids(assuming you don't already), at least to me, I can't justify even more time away from them since you'll be working.

    The other reason I'm replying is because as a third year I'm potentially going to do the MD/MBA program at my school next year, taking me five years. I heard of some residencies letting you get your MBA in addition to residency but the only ones I've seen are very specific ones on the md-mba.org website in ophtho, family practice, and gas. Sorry to ask for details but where are you doing your ortho residency because I would much rather do my MBA during residency. I suspect you are doing it at Penn(just a hunch), so I wanted to know if any resident can do this or only ortho residents, or only surgery residents? Does the MBA come free since you're an employee or do you pay out of pocket? I don't yet know what I want to do although ortho is one of a few specialties I'm seriously interested in. Really any input would be greatly appreciated. Also how do you know so early where you're doing ortho, the match isn't for awhile and I thought ortho wasn't an early math specialty.
     
  3. OP
    OP
    pimpmybones

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    Dude,
    MD-mba.org is a great resource….Thanks for the advise
    To answer your question, I m going to a hospital in Michigan to do my residency. DO’s can pre-match anything (I think) and our match is in early February .

    I was reading a couple of other post and it appears tht many people don’t agree with the idea of trying to get and MBA while in residency unless it’s integrated as part of that residency programs curriculum. After talking with Ortho residents & attendings, it also appears tht the call, clinical and research obligation are far to great to even consider this an option ( probably not the case for other non surgical specialties… FP,IM) Something about….. You may be able to do it but @ wht cost?…spreading yourself to thin during your training…your priority number 1 is to learn orthopedic surgery so tht you know how to operate when you finish….everything else is extra….something like tht???

    I

    LOL….So for me it looks like an eMBA post residency is my most likely route. That being said I still fell like it would be a great move if one could pull it off without compromising……
     
  4. whistler

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    Sounds good, the reason I suspected Penn is because through the unofficial grapevine I heard that surgery residents who are required to do research can opt out of the research if they get their MBA instead. I had never heard specifics though. Also as far as an eMBA, I'd highly recommend Wayne State University in Michigan, a buddy of mine did the MBA there while doing his cards fellowship. I think you only need to go to campus like a few times during the whole MBA period. He said they were very flexible, but obviously check it out for yourself. He finished it within the same time period as the cards fellowship, but since ortho is alot more hectic, you probably would want to spread it out over the 5 residency years or something like that.
     

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