Md + mba

[cocantu]

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Does anyone know if obtaining an MBA after completing my FM residency would be beneficial? I plan on trying to eventually own a group practice. I am unsure if an MBA would help me manage a group practice better or if that could be accomplished with by letting other people (accountants) do the work. I also wonder if an MBA would help significantly when trying to invest and such. I basically want to know if an MBA would be beneficial or if these are things I can take care of with a cheap book, accountants and financial planners. I also know many Drs. do fine without an MBA and I do not plan on working for a Hospital, but have considered expanding a group practice to something more like a medical home w/ specialist and all types of equipment for patients. I know I still have a way to go, but I've heard that the early bird gets the worm. 😉

P.S. Im not premed lol I will change that right away.. MS3

 

[lowbudget]

I think an MBA after an FM residency would help you to understand the business side of the American economy, especially if you weren't an economics or business major as an undergrad. I think it can help you manage a group practice and help you understand the numbers and dynamics behind the organization and how the organization fits in the overall picture. Obviously, it's not a requirement as there are plenty of doctors without MBA's. MBA only provides you theoretical background. You still need to get experience and apply that knowledge in your own situation. But having a framework is better than having no framework.