Friday, August 7, 2015

New MD/MBA Program Now Third Dual Degree Option at CHM

Several weeks ago, we posted about the two dual-degree programs offered at the MSU College of Human Medicine and the opportunities they can present for those pursuing either an MD/PhD or an MD/MPH.

Add another option to the mix. The College of Human Medicine Office of Admissions would like to introduce our third dual-degree option: the MD/MBA.

Increasing interest in MD/MBA dual degrees is encouraging universities across the globe to implement programs that train physicians and medical scholars in business. Advanced research and technology along with evolving healthcare laws and regulations have more and more physicians looking to acquire deeper managerial skills as well as a better understanding of the business of healthcare.

An MBA provides management training that enhances physicians' understanding of the larger impact the business of healthcare has on patient care. While trained physicians diagnose and treat human disease, they also run the hospitals, medical units, or other health-related businesses.

This dual degree option offers essential skills physicians will need when opening a private practice or starting a business. But additional career options for MD/MBA students range widely.

For instance, one can do some consulting for medical equipment or pharmaceutical companies. Directing a public healthcare agency or other medical departments is certainly also possibility. This all comes at a time when roles for physicians have expanded further into administrative positions and committee seats.

Ultimately, that precisely is the benefit of such a program—it introduces more possibilities, encourages entrepreneurship, and can influence career paths beyond research and patient care.

The dual MD/MBA degree at Michigan State University takes five years to complete after formally enrolling in both the College of Human Medicine and the Eli Broad College of Business. The curriculum for the program at CHM will naturally include MD coursework and MBA coursework, but will also include online concentration coursework.

Interdisciplinary academic programs are becoming increasingly important as interdisciplinary skills are becoming even more coveted. Completing this program helps to ensure students are prepared for modern medical and business issues.

The MD/MBA program is currently undergoing the approval process for the 2016 matriculating students. Please see our MD/MBA page for more information and to see our additional dual degree offerings.