Thoughts on DDS/MBA joint degree

[jackbauer!]

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I wanted to get everyones' thoughts on getting an MBA with your DDS. I'm contemplating this option, as I have always been very interested in business and would one day consider getting into practice consulting (that is, if I can manage to build a successful practice myself 😛).

Here is my pro/con list:

Pros:
Extensive training in management, leadership, finance
More marketable
Additional education is never a bad thing
Maryland has a highly ranked B-school

Cons:
Opportunity cost- program tacks on an additional year of school
Monetary cost- ~$50k of additional debt
Would graduate with c/o 2012.. all my friends are c/o 2011

I'd like to get the opinion of current dental students and dentists. Plus, if anyone is enrolled in a combined program, any input from you would be great also!

jb!🙂

 

[xenomblack]

Which schools have MBA/DDS programs???

I am very curious about this as well.

There is DDS/MPH program at my school (NYU)
but no DDS/MBA.

I see alot of MB/MBA programs, but seen none in dentistry.

any help?

 

[armorshell]

Cons:
Opportunity cost- program tacks on an additional year of school
Monetary cost- ~$50k of additional debt
Would graduate with c/o 2012.. all my friends are c/o 2011

*head explodes*

 

[cowbuddha]

Which schools have MBA/DDS programs???

I am very curious about this as well.

There is DDS/MPH program at my school (NYU)
but no DDS/MBA.

I see alot of MB/MBA programs, but seen none in dentistry.

any help?

UCSF has a joint program with University of San Francisco. It is also 50K. The two people I know who are doing it here seem to be handling the concurrent scheduling fine (one recently got into ortho). More education is always a plus, if this option interests anyone, you should explore it further!

 

[jackbauer!]

*head explodes*

From the guy who wants into an OMFS residency 😉

jb!🙂

 

[armorshell]

But I have a expectation to gain value on my investment of time and opportunity cost, and the IRR for specializing in OMFS is the highest of any dental specialty.

Can you reasonably expect to make back the money and wages lost in getting an MBA?

 

[jackbauer!]

But I have a expectation to gain value on my investment of time and opportunity cost, and the IRR for specializing in OMFS is the highest of any dental specialty.

Can you reasonably expect to make back the money and wages lost in getting an MBA?

Yes. Well, No... Well, maybe ....

jb!🙂

 

[Composite A2]

However an MBA degree might be the proper training in order to put together a very successful general practice, and the jumping point for a branch. Many general practicing dentists have had the businness savoy to do extremely well. Financialy better then their speciality counterparts, and that includes OMFS.

 

[armorshell]

However an MBA degree might be the proper training in order to put together a very successful general practice, and the jumping point for a branch. Many general practicing dentists have had the businness savoy to do extremely well. Financialy better then their speciality counterparts, and that includes OMFS.

I'm aware that the bell curves for the financial gain in general practice and OMFS will have an overlap, but there's a good body of research to suggest that there is a high rate of return for spending time in an oral surgery residency, and the common knowledge is that an MBA is more or less not applicable to operating a general dentistry practice.

The only reason I pointed any of this out in the first place, is the if JB! can't reasonably assume to make a return on his investment of money and time, he shouldn't bother with it. I certainly wasn't trying to boost up the financial reputation of a specialty I'm not even a part of yet.

 

[jackbauer!]

I'm aware that the bell curves for the financial gain in general practice and OMFS will have an overlap, but there's a good body of research to suggest that there is a high rate of return for spending time in an oral surgery residency, and the common knowledge is that an MBA is more or less not applicable to operating a general dentistry practice.

The only reason I pointed any of this out in the first place, is the if JB! can't reasonably assume to make a return on his investment of money and time, he shouldn't bother with it. I certainly wasn't trying to boost up the financial reputation of a specialty I'm not even a part of yet.

I agree 100%. From an economic standpoint it may not be the wisest decision, but what about personal satisfaction? What about future consulting opportunities? etc.

Another option I've been considering: evening MBA after graduating dental school, while in practice. Thoughts?..

jb!🙂

 

[armorshell]

I agree 100%. From an economic standpoint it may not be the wisest decision, but what about personal satisfaction? What about future consulting opportunities? etc.

Another option I've been considering: evening MBA after graduating dental school, while in practice. Thoughts?..

jb!🙂

I tend to think of personal satisfaction as having a monetary value of it's own, so if it's worth the amount of money and time you would spend doing the MBA for the added benefit than it is definitely worth it.

Personally I like your latter idea. You'll get the same knowledge without the same impact on time and finances. Plus you'll be practicing as well and have more insight into what you need to learn and more to bring to the table as far as class discussions and the like.

 

[MSDMD]

I got my MBA at night while working full time. You can't ever have too much education, true, but do I think it really helped me, No, not much. Most of the things that I learned that would apply to dentistry I really feel like I could have picked up on my on. That is my take. I definitely wouldn't increase my time in dental school for it. If you really want it, do it after you are out in an evening program.

 

[jackbauer!]

I got my MBA at night while working full time. You can't ever have too much education, true, but do I think it really helped me, No, not much. Most of the things that I learned that would apply to dentistry I really feel like I could have picked up on my on. That is my take. I definitely wouldn't increase my time in dental school for it. If you really want it, do it after you are out in an evening program.

Thanks for the advice. I'm definitely leaning that way. I don't think the MBA will significantly improve the productivity of my practice, but I do think it would help be get into practice consulting later in my career if I choose to do so.

Thanks again.

jb!🙂

 

[NileBDS]

...

Pros:
Extensive training in management, leadership, finance
More marketable
Additional education is never a bad thing
Maryland has a highly ranked B-school
...

Hey JB.

I was working on my MBA right before I got accepted to dental school, and can tell that I absolutely loved it. Would I do it again, yes. Would I do it again, while in dental school, waste an additional year (as a student) and $50k in tuition, no.
What you need to know about dental businesses can be easily be absorbed through associateships, practice purchases/startups and a few good CEs. That's pretty much all you need. As far as consulting goes, that's something you can always do with no need for an MBA. I know having an MBA sounds catchy, but it really is a bit much and not at all specific for dental practice and business management.

 

[Frederico Albin]

Should have thought about that 4 years ago 😛

jk lol

 

[pietrodds]

having practiced for 4 years. no, I don't think the extra 50K and year of lost income is worth it. Go worked as an associate in a well run office and you'll learn everything you NEED to know. There's plenty of good CE out there to learn the stuff you want. Check out Howard Farran's 30 day Dental MBA video series. You'll get everything related to dentistry that you need to know for a fraction of the cost/time. Best of luck.

 

[Irish02]

I just completed the joint process through VCU in 06. I started my MBA the spring semester of the 2nd year in Dental School and finished the degree at teh same time as my DDS.

One thing to check on, because I didn't have to pay more than 4 thousand dollars... As those were for the 4 summer school courses I had to take.... Otherwise, I was allowed to take as many MBA or, hell, any other discipline courses I wanted at night during the regular fall/spring semesters. Apparently there is a cut line for credits where they stop charging per credit. But there was no 'joint' program... As far as I know, I am the only one ever to pursue it from my school...

I've not got much time, but if you want to message me about it, I'll get back to you.

K

 

[Benson]

hey jb!!....

Correct me if i am wrong but i am thinking on the same lines and by doing an MBA wont it also help getting into the corporate side...As in i mean good dental companies...something like straumann,dentsply.....

I am not toooo sure about the clinical practise on the long run......

Depends on how one perceives it....

Like to hear from you guys...

 

[letsgfuad]

so at temple if you do the dmd/mba you only pay for dmd and NOT the mba Also, they say most kids finish in four years.


Now is it worth it?

 

[xml2008]

A quick question: Doesn't one need to have some sort of work experiences to get into MBA? How does one obtain related work experiences before or in dental school?

 

[dente per dente]

I just completed the joint process through VCU in 06. I started my MBA the spring semester of the 2nd year in Dental School and finished the degree at teh same time as my DDS.

One thing to check on, because I didn't have to pay more than 4 thousand dollars... As those were for the 4 summer school courses I had to take.... Otherwise, I was allowed to take as many MBA or, hell, any other discipline courses I wanted at night during the regular fall/spring semesters. Apparently there is a cut line for credits where they stop charging per credit. But there was no 'joint' program... As far as I know, I am the only one ever to pursue it from my school...

I've not got much time, but if you want to message me about it, I'll get back to you.

K

Wow, how does one make time for the extra MBA courses? It already sounds like the DDS/DMD curriculum keeps all dental students pretty busy... and on top of that taking extra business courses?

Sounds um-possible.