Queen's University School of Business

Executive MBA, Cornell-Queen's (1 year)

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MBA for Doctors / Medical Professionals

If you look at the medical curriculum, you will notice that business management hardly occurs there. Business knowledge would not only be very useful for self-employment with your own practice, but also for a career, for example in clinics. We have created an overview of whether and when an MBA is worthwhile for doctors.

Does an MBA make sense for doctors?

If you are reading this text and want to find out about an MBA, you are probably a medical doctor yourself. And then you will surely know the challenge of dealing with scarce resources in the best possible way, not going under increasing competitive pressure and being able to keep up with new forms of care. In short: The requirements for business knowledge of doctors are constantly increasing. At least if you are interested in advancing on the career ladder or the economic expansion of your practice.

Under certain conditions, an MBA can therefore make a lot of sense for doctors, say the graduates, whom we asked for experience reports via Xing.

Two study options to choose from

If you are interested in an MBA and have already googled a little, you will have noticed that you basically have a choice between two types of study programs:

MBA for doctors

At Neu-Ulm University of Applied Sciences there is an MBA especially for doctors. The Furtwangen University offers an MBA in medical technology and many colleges have a MBA Health Management offer. For example, the SRH Fernhochschule offers a part-time Executive MBA for doctors in just 2 semesters. So there are many study programs that explicitly combine business know-how with your medical expertise.

Advantages:

• The course content is conveyed directly in a practical manner with typical work requirements of the healthcare system.
• In addition to business content, there are also special health topics on the curriculum.

Disadvantage:

• Graduates complain in part that medical professionals in these special MBA programs stay among themselves and that the refreshing view of people outside the industry is missing. However, this is far from being viewed negatively by all graduates.

General "Business Administration MBA"

Of course, all other MBA programs are also open to doctors. A course of study like " General Management" would then make sense, which deals intensively with all business administration subjects without linking them to a specific industry. This is where pure economics are taught.

Advantage:

• The study groups are more interdisciplinary and therefore you get a look outside the box.
• The MBA qualifies for a wide variety of positions, not only in the hospital, but in all areas of health.

Disadvantage:

• The course has no content-related relation to the health care system and therefore does not address certain questions that concern, for example, hospital managers.

What matters when choosing a course

Ultimately, both options are suitable for further education. In addition to the content, the choice of the course also depends on the accessibility or the structure of the course.

Most programs are designed to be part-time and take place on weekends, sometimes even on Fridays. You should therefore make absolutely sure that the study periods are well compatible with your own professional activity and, if necessary, with your private life. A trip to the university across the republic every 14 days is not recommended.

The following questions can help you choose your degree

Because an MBA is not always the right choice, sometimes specialized (smaller) training courses help more:

• Where do I stand in my professional development overall and in my development as a medical manager? And where do I want to go?
• Which topics are missing in my knowledge and expertise portfolio?
• Do I want to focus on patient care in the medium and long term, or do I prefer to focus on activities that are more remote from the patient?
• Is it important to me to have the MBA or am I also satisfied with a (smaller) training that only provides the information I need to be able to implement new and additional developments in my professional reality?
• Which offers do non-commercial offerers like professional associations offer me?