MBA effect?

[MD2017done]

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[alcon1]

none.... get the MBA if you are interested in the business aspect and applying it to healthcare.... it will be a good talking point on interviews based on a few friends who got MBAs

 

[gutonc]

If your app is geared toward the business of medicine and you're planning to go into administration, your MBA will be helpful, or at the very least, something to talk about on the interview trail. If you're hoping it will bump your app up with the MudFuds you'd be better off spending the year surfing in Australia, helping to save someone from a shark attack and writing about that in your PS.

If you want an MBA, do an MBA. If you want to make your app shinier, do some research or do better on your rotations.

 

[MD2017done]

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[machomed]

So why is a PhD able to compensate for a 220 step 1 score at places like MGH, but an MBA has no effect? I am just curious, I don't care if it doesn't have additional benefit in residency applications, I am just curious. I will bust my ass in medical school to do well and I will not rely on an MBA to compensate for weak performance.

I want to excel not only in clinical medicine but also in hospital administration. Both are things that I am interested. The sciences and Economics/Finance equally interest me.

If you have used your MBA in your training to do interesting work that relates to the healthcare field (for example, an economic analysis of your free student clinic, or starting an nonprofit related to public health, or an internship at a primary care startup focused on new models of care), then an MBA can absolutely elevate your application. There are many MD/MBAs at Penn and the Brigham in particular (not as much at MGH) who are interested in the business aspects of care redesign, and I am sure that the time spent during their MBA contributed to the uniqueness of their applications and odds of acceptance.

 

[SoCalMDMBA]

I took a year off after 2nd year to complete an MBA at the top #20 business school at the same university as my medical school and then spent a fair amount of time during 3rd and 4th year working on projects incorporating my shared skills sets (OR workflow optimization, resource allocation for primary care cancer screening, health care IT feasibility analysis, etc.). After wrapping up my IM interviews, I can tell you that I spent the majority of each interview discussing these projects and how I plan to leverage my MBA in the future.

I agree with the previous comments that the MBA is only as valuable as what you do with it. If you see yourself using it during and/or right of residency, the five-year combined program makes sense. But don't do it just to boost your residency application, as it will not make-up for sub-par USMLE scores, clinical clerkship grades, etc.

 

[MD2017done]

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[redy]

I already did something along those lines as an undergrad. As an undergrad, I was a double major in Economics and Chemistry. I interned at a major federal health institution (think NIH, FDA, etc I don't want to reveal the actual institution to remain anonymous) where I was analyzing the cost effectiveness of government interventions in the medical field (like vaccination programs, closing down of schools to hinder the spread of a disease, etc) using Econometric techniques (statistical economic techniques commonly used to analyze financial market trends).


As a medical student, I can use this federal institution to continue similar cost effectiveness studies and crank out some more pubs.


With an MD/MBA I want to excel not only in clinical medicine but also in health care administration.It is about time physicians stop taking orders from suits who have a very limited understanding of clinical medicine.

Couldn't agree more. I am planning on doing a masters in health administration as an MBA may require more money/time after finishing my fellowship.

Good luck to you. As with anything if you are doing it to make yourself look good I am not so sure it will be of use. However if you have a purpose to it, even if it doesn't help with residency/ fellowship, it will always be useful.

 

[SoCalMDMBA]

I already did something along those lines as an undergrad. As an undergrad, I was a double major in Economics and Chemistry. I interned at a major federal health institution (think NIH, FDA, etc I don't want to reveal the actual institution to remain anonymous) where I was analyzing the cost effectiveness of government interventions in the medical field (like vaccination programs, closing down of schools to hinder the spread of a disease, etc) using Econometric techniques (statistical economic techniques commonly used to analyze financial market trends).

^ However, even though I did something VERY UNIQUE like this, something that MOST premeds would never do, it wasn't enough to make up for an MCAT score in the low 30s. I was accepted to a mid ranked medical school and only got one interview at a "top 20" medical school. This taught me that a weak standardized test score can never be overlooked simply because an applicant is "unique". I know that an MBA won't make up for stats, I learned that ECs and subjective **** can never make up for numbers the hard way in undergrad, I just hope that it residency program directors will realize the "opportunity cost" of spending a year and some serious $$$ for an MBA.


As a medical student, I can use this federal institution to continue similar cost effectiveness studies and crank out some more pubs.


With an MD/MBA I want to excel not only in clinical medicine but also in health care administration.

Given that background, the degree that you should really be after is an MHA. However, I don't know of any joint programs that allow completion in 5 years. Most MDs get an executive MHA once on the career path for higher level administrative positions (funded by the institution they work at).

 

[SaipanRocks]

I would caution against any 1 year MBA programs, even at top 20 b-school program. Anyone who has gone to b-school knows the difference between full MBAs and executive MBAs. It's pretty much window dressing, and usually cost a fortune. If all you are looking for is the 3 letters and you have the cash, go for it. But don't kid yourself that they are equivalents. And for the record, nobody cared that I had a MBA on the interview trail. Never came up once, and frankly, why should a 3 year program care?

 

[MD2017done]

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[MD2017done]

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[redy]

One year MBA programs are NOT executive MBAs. Cornell, Northwestern, Emory all have one year MBAs, two year MBAs and separate Exective MBA programs all catering to different needs. One year MBAs are unique MBAs designed for your typically non-traditional MBA student (JDs, MDs, people who know exactly what field of business they want to work in after the MBA). Its funny because I talked to a student at one of these MBA programs who is doing it in a 2 year program, and he said that there is not a significant difference in starting salary/job opportunities for students in the 2 year MBA and one year MBA programs. The biggest difference is as a one year MBA student, I won't have the time to do a summer internship. However a summer internship is needed if I was a traditional business student, not an MD who knows what field I want to enter after I graduate from with an MBA. Also these MBA programs tend to give a lot of merit scholarships depending on one's GMAT score. Not only that I am saving a lot of money from medical school (TX resident 😀) so even if these schools give me no financial aid and/or no merit based scholarships, I should be able to afford it.

I am assuming you have to take 1 year off for the MBA, right? Or do I assume wrong? Can it be done say while working as a hospitalist, during your days off?

 

[MD2017done]

^ well one year programs require you to take an entire year off, but executive programs you can do while you work.

 

[bluenebula83]

How about one of those online MBA programs that are sponsored by universities. I'm thinking about the UMass Isenberg School of Business in particular that lets you focus on healthcare management. I don't see myself as a resident/fellow/attending going back to a brick-and-mortar business school. I rather do something part-time that's online. Any thoughts on that?? Thanks! 😀

 

[ruthevans41]

If your focus is Healthcare, I just received my MBA in Boston from Babson College and it was a phenomenal experience. They have a specialized program with a concentration on life sciences and healthcare that set me up with amazing contacts within the city and led me to land my dream job. The program Best of luck!