The Dual Md/Mba Degree: Making the Decision
Running Head: MD/MBA: Making the Decision
The Dual MD/MBA Degree: Making the Decision
Gannon University
Final Paper
August 4, 2011
Introduction The reality of the current healthcare system in the United States is that costs are rising to out-of-control levels, quality of care is increasingly deficient and millions of Americans are without access to care. Traditional education for healthcare administrators has centered on business practices and organizational financial needs. Likewise, medical professionals tend to lack the business acumen necessary to effectively run healthcare facilities. The need to bridge the gap between healthcare administration and clinical care is more prevalent now than ever. The last decade has created changes in technology that have effectively increased the availability of educational resources. The need for medically trained leadership has driven educational institutions to diversify and add business focused classroom training to traditional medical degrees. The combination of these two factors has reduced some of the barriers to entry when enhancing an existing Medical degree or choosing a career that focuses on leadership within the medical community. The cost of education continues to rise as the government cuts back on state and federal aid to support education. Business has also cut back on spending to support its employees in their continuing education needs. To facilitate change, many universities now offer the dual Doctor of Medicine and Masters of Business Administration degrees. With the state of both the economy and healthcare in general and the rising need for a solution to the dichotomy of administrative leadership versus clinical expertise, despite the rising costs of education, now may be an ideal time to consider a pursuing an MD/MBA designation.
Initial Considerations Making the decision to pursue a dual degree which results in an MD/MBA designation is both a
The Dual MD/MBA Degree: Making the Decision
Gannon University
Final Paper
August 4, 2011
Introduction The reality of the current healthcare system in the United States is that costs are rising to out-of-control levels, quality of care is increasingly deficient and millions of Americans are without access to care. Traditional education for healthcare administrators has centered on business practices and organizational financial needs. Likewise, medical professionals tend to lack the business acumen necessary to effectively run healthcare facilities. The need to bridge the gap between healthcare administration and clinical care is more prevalent now than ever. The last decade has created changes in technology that have effectively increased the availability of educational resources. The need for medically trained leadership has driven educational institutions to diversify and add business focused classroom training to traditional medical degrees. The combination of these two factors has reduced some of the barriers to entry when enhancing an existing Medical degree or choosing a career that focuses on leadership within the medical community. The cost of education continues to rise as the government cuts back on state and federal aid to support education. Business has also cut back on spending to support its employees in their continuing education needs. To facilitate change, many universities now offer the dual Doctor of Medicine and Masters of Business Administration degrees. With the state of both the economy and healthcare in general and the rising need for a solution to the dichotomy of administrative leadership versus clinical expertise, despite the rising costs of education, now may be an ideal time to consider a pursuing an MD/MBA designation.
Initial Considerations Making the decision to pursue a dual degree which results in an MD/MBA designation is both a
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