MBA vs research

[Melomare17]

Wanted to know what your take is on getting an MBA during med school (taking classes in the summers/during med classes) vs doing research instead. When do people usually do research in medical school? Only in the summers or during the academic year as well? Would people do research AND take MBA classes at the same time? Or just do one or the other, and which?

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[Mehd School]

What would you do with the MBA?

 

[DoctorKrieger]

If it's something you'd really like to pursue, there are several schools that have dual-degree options (DO/MBA, MD/MBA) that allow you to get your MBA on an accelerated schedule compared to just a standalone degree. The way schools organize these programs vary, but at OSU-COM the MBA students add a year of only business classes to the four years of med school. During that year, you would have plenty of time to do research as well, in addition to the summer breaks. Like I said, every school is a little different in how their MBA options operate so those from other schools might have additional input.

 

[LaughingMan]

If your company isn't paying for your MBA--or you've hit a glass ceiling and need one to climb--then don't do it.

Unless you're literally paying 15k--don't do it.

 

[Melomare17]

What about using it for setting your own practice up/group practice in a rural area?

 

[DoctorKrieger]

I'm in the minority, most medical students just couldn't care less about business so you'll get a lot of responses telling you it's not worth it. To each his own, but I can't recall a physician I've mentioned this to saying anything other than they wish they had done something like this. Since you're one of the few interested in getting an MBA in addition to a MD/DO, go ahead and talk to physicians that have been in practice a while and see what they tell you. Then look into the schools that offer the dual degree and see how they're set up and if it's right for you.

Sure, it's possible to set up your own practice without an MBA, but you'll probably have an expensive learning curve. Also, the stuff you learn isn't just applicable to running a business but also how to manage your own finances/investments. Which, as someone with high income potential, will be especially useful.

 

[Melomare17]

Thanks DoctorKrieger! Would it be bad to not have research done for when applying for residencies then?

 

[teres]

I believe that financial literacy is essential for everyone, especially physicians because of the amount of cash flow in health care, but I'm not sure that an MBA is the best way to do so. Some universities offer courses with mostly practical information for managing personal (or even business) finances, and in my experience, these courses are very beneficial. Of course, an MBA can be a valuable pursuit, but I would first investigate the cheaper, shorter alternatives first.

 

[DoctorKrieger]

Obviously, if all you are looking for is basic financial literacy then just pick up a book on the subject. Additional cost to get the MBA is something to consider, but really isn't significant when compared to the cost of medical school--at least in my situation (~11k in tuition/fees + living expenses, but this is at a public school).

Would it be bad to not have research done for when applying for residencies then?

Depends on what specialty you go into. If you want to do family med in a rural setting, then lack of research probably isn't going to hurt you much. Gunning for derm? You'll probably need some publications on your app. Getting an MBA doesn't preclude you from doing research though--it depends a lot on how the school does their dual degree program (i.e. taking business courses while in med school vs. taking a dedicated year or however long to complete the MBA courses).

 

[cliquesh]

Thanks DoctorKrieger! Would it be bad to not have research done for when applying for residencies then?

Research isn't a big of a deal as SDN makes it seem.

 

[MrChance2]

These MD/[anything but MPH or PhD] degrees remind me of that scene from Team America World Police where it is pretty much a joke that they recruited the hero because he has a degree in Political Science AND Theater. It is true, once you're out of school for awhile degrees mean a lot less. You'll have spent so much time and money learning information you'll never use doing lots of these degrees.