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What kind of jobs or positions would benefit from having an MBA in addition to an MD? I was just wondering.
MD/MBA
- Thread starter Bad Mojo
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C
Chronotropic
Having the training of an MBA could only help if you run a private practice. Could also be beneficial to those wanting to be department directors.
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getting an MBA to run a private practice is like getting a pilots license to play flight simulator... its way more than you need.
an MBA could be useful to an MD if he knows what he wants to do with it.
an MBA could be useful to an MD if he knows what he wants to do with it.
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And?
It's not as if the time required to acquire each degree isn't the same (from institutions that allow joint degree persuits)...
Personally, I'd rather put the "running" of my organization in the hands of someone who possesses a business degree...but hey, someone else might prefer similar service of one with a degree in public heath...Hmmm
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well i am applying for a MD-MBA combined degree. Many people say its a waste of time. But consider this (according to Time magazine) by the year 2008 there will be a need for atleast 132,000 healthcare managers, many of them MD/MBAs.
There is a dire need for physicians who have a business background because there is a rise of major healthcare corporations. Such orgs cannot be run by ordinary MBAs because they will try to suck all the revenues thereby increasing medical costs. Physicians understand the complex nature of their field and their presence is vital while making business and management decisions.
Many people say MD/MBAs are needed for "changes". I used to believe that too. However, there is a lot of red tape that prevents such idealism. Many of the bureacrats are politicians, executives with no med bakground, and even fresh college graduates with majors such as business, marketing etc. Doctors are looked down upon when it comes to making business decisions since they dont have the "business experience".
This conflicts with the quality of medical care because docs know whether this surgery or treatment is needed or not. The admin on the other had would just say NO since it would be too costly or patient doesnt have good insurance.
Here is another example. I am currently working with my research on pharmaceutical economics and it has come to my attention that pharm companies are now heavily investing in "lifestyle" drugs. That is millions of BILLIONS for drugs that cure erectile dysfunction, anti-depressants and statins -- cholesterol-reducing drugs. These drugs are very lucrative so much so that their return are in the millions. For example. Vioxx got Merck 2.5 Billion dollars and leukotriene fighting Singulair $ 1.5 Billion in 2002.
Ask any doctor and they will tell you that such drugs are not worth investing relative to researching drugs against the antibiotic resistant strains of bacteria, cancers, AIDS, diabetes,etc. This monopoly in selective production has raised the costs of drugs by many hundreds times over the last 50 years.
And where do all the profits go? into the savings accounts of the pharm executives. Now these people dont even know how their drugs work, or their indications or usage. The pharm industry is run by crooks, much like other industries that saw scandals over the past years. If the pharm industry is run by doctors or even pharmacists who know wut the major healthcare problems are in their fields, the return on the drugs sold would show in good health outcomes of patients.
Thats y there is such a desperate need for doctors with MBAs.
There is a dire need for physicians who have a business background because there is a rise of major healthcare corporations. Such orgs cannot be run by ordinary MBAs because they will try to suck all the revenues thereby increasing medical costs. Physicians understand the complex nature of their field and their presence is vital while making business and management decisions.
Many people say MD/MBAs are needed for "changes". I used to believe that too. However, there is a lot of red tape that prevents such idealism. Many of the bureacrats are politicians, executives with no med bakground, and even fresh college graduates with majors such as business, marketing etc. Doctors are looked down upon when it comes to making business decisions since they dont have the "business experience".
This conflicts with the quality of medical care because docs know whether this surgery or treatment is needed or not. The admin on the other had would just say NO since it would be too costly or patient doesnt have good insurance.
Here is another example. I am currently working with my research on pharmaceutical economics and it has come to my attention that pharm companies are now heavily investing in "lifestyle" drugs. That is millions of BILLIONS for drugs that cure erectile dysfunction, anti-depressants and statins -- cholesterol-reducing drugs. These drugs are very lucrative so much so that their return are in the millions. For example. Vioxx got Merck 2.5 Billion dollars and leukotriene fighting Singulair $ 1.5 Billion in 2002.
Ask any doctor and they will tell you that such drugs are not worth investing relative to researching drugs against the antibiotic resistant strains of bacteria, cancers, AIDS, diabetes,etc. This monopoly in selective production has raised the costs of drugs by many hundreds times over the last 50 years.
And where do all the profits go? into the savings accounts of the pharm executives. Now these people dont even know how their drugs work, or their indications or usage. The pharm industry is run by crooks, much like other industries that saw scandals over the past years. If the pharm industry is run by doctors or even pharmacists who know wut the major healthcare problems are in their fields, the return on the drugs sold would show in good health outcomes of patients.
Thats y there is such a desperate need for doctors with MBAs.
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Pointed noted in the semantics of the degree name. If I was going to put anyone in the hands of my buesiness I would want to know if they knew what the hell they were doing degree or not.
What I am finishing up is learning to be an administrator in the public health systems, being health departments, nonprofit hospitals, for profits hospitals, govermental agencies, and the such. Now an MBA is more for total business, I wanted to learn more about how I would learn to work in administration and policy development within my chosen field.
(All I have done this week is study for my Health Care Adminstration Finance exam...so I'm a little tired 🙄 )
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I and many others forsee a HUGE demand for MD/MDAs in coming years. Especially if the antitrust exemptions for HMOs is eliminated like a few are anticipating....
Coops
