Even though medical school will prepare you to become a physician, what else can you do to give yourself an advantage? Earning an MBA alongside your MD not only broadens your scope of the world of medicine, but it also opens up many opportunities. If you're concerned that studying for another degree may take away from your medical studies, Urbana University offers an online MBA program that can accommodate medical students' rigorous schedules. Here are some reasons why you should apply to this innovative program:
Navigate Healthcare Organizations
In order to succeed in health care (or any business venture), knowledge is power. Your medical knowledge will help you treat patients but, if you want to be successful, you need to know how healthcare organizations operate. The procedures and policies of hospitals, private practices, and other healthcare facilities can be confusing and overwhelming if you don't know what you're doing. By learning to navigate these organizations, you'll have the advantage over other medical students, residents, and physicians. Eventually, they will come to you for advice.
Build Leadership Skills
When you become a physician, you have to be assertive and take command of difficult situations. If you want to be in control and know how to interact with people working under you, you need to understand basic leadership skills. Urbana offers courses designed to foster the leader in you. For example, BSG504 "Leadership and Organizational Behavior within the Health Care Sector" focuses on leadership within the context of the corporate healthcare environment. The skills you learn in that class could even be applied to non-managerial positions.
Networking with hospital administrators, physicians, and other essential hospital personnel is fundamental to securing the residency you want, but you need to make a good impression if you want a strong recommendation letter. Networking is an art that can take years to master. Urbana's courses will teach you the right way to approach these potential references and the skills that will distinguish you from other medical students.
Bolster Residency Applications
Residency applications have become increasingly competitive. More medical school graduates are applying for fewer slots, which means you'll need something radically different on your application to be a memorable candidate. Earning a Healthcare MBA with your MD shows residency committees you can handle an intensive course load and demonstrates that your passion for medicine extends beyond medical school.
Develop Business Acumen
If you want to open a private practice after your residency, you need to hone your business skills. Urbana's MBA program is designed exclusively for MDs and aspiring MDs to meet their career objectives. After you complete the program, you'll be able to make better judgments about where to set up your practice, who to hire, how to obtain patients, etc. This knowledge will give you an edge in the competitive healthcare marketplace.
What do you want out of a Healthcare MBA? Let us know in the comments!