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UC Irvine MD/MBA Joint Degree Program PowerPoint Presentation
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UC Irvine MD/MBA Joint Degree Program

UC Irvine MD/MBA Joint Degree Program

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UC Irvine MD/MBA Joint Degree Program

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  1. UC Irvine MD/MBA Joint Degree Program Maria Chandler, MD, MBA Faculty Advisor, MD/MBA Program PH (949)824-6138 mchandle@uci.edu Maria Chandler, MD, MBA

  2. Mission To train a select group of physicians in the aspects of business who will lead our community and the entire healthcare industry toward a solution to the incredible challenge we are faced with of providing patients with quality care that is financially and ethically responsible. Maria Chandler, MD, MBA

  3. Why A Dual Degree? The Association of American Medical Colleges: Future physicians must “acquire leadership skills,” be able to “analyze financial data,” and “negotiate contracts.” (4/97) Maria Chandler, MD, MBA

  4. Why A Dual Degree? The University of California Commission on the Future of Medical Education: “urges medical schools to emphasize business skills.” “Trainees today should also have a sophisticated understanding of business management.” “Doctors must exhibit business acumen if they want to land a job.” (6/97) Maria Chandler, MD, MBA

  5. Why A Dual Degree? Dr. Windsor Sherrill, Ph.D., MBA: • Leadership opportunity • Job security • Possible changes in medicine • Personal career goals-to combine clinical and administrative roles, to innovate, to make a difference (MD/MBA students: An analysis of medical student career choice. Med Education Online 2004;9:14-www.med-ed-online.org) Maria Chandler, MD, MBA

  6. MD/MBA Search Firms • UpToDate (Boston)-MD Sales Position • Wimbledon Group (Colorado)-VP of Strategy and Operations for Enlight Biosciences • Janet Wright & Associates Inc (Non-profit sectors Canada)-Executive VP, Mt. Sinai Hospital Toronto Maria Chandler, MD, MBA

  7. Why A Dual Degree? Physicians in Leadership Positions: Hospitals 46% Managed Care 78% Group Practice 55% (Hospitals & Health Networks 8/5/97) Maria Chandler, MD, MBA

  8. Why a Dual Degree? Dr. Kim B. Clarke, PhD, Dean of Harvard Business School: “Medicine and business have long been intertwined…but today, with the extraordinary promise of emerging medical technologies, sweeping changes in the delivery of health care, and the push to control the cost of medications, the need for leaders firmly grounded in both fields has never been greater.” (“Harvard Introduces Joint MD-MBA.” FOCUS, May 14, 2004.) Maria Chandler, MD, MBA

  9. Why a Dual Degree? New York Times: “Indeed, doctors have become so interested in the business side of medicine that more than 40 medical schools have added, over the last 20 years, an optional fifth year of schooling for those who want to earn an M.B.A. degree as well as an M.D. Some go directly to Wall Street or into health care management without ever practicing medicine.” (“Lure of Great Wealth Affects Career Choices.” New York Times, November 27, 2006) Maria Chandler, MD, MBA

  10. Physicians (INFP) Introvert Intuitive Feeling Perceiving Business Type (ESTJ) Extrovert Sensing Thinking Judging Personality Types of MD/MBAs O’Connor and Shewchuk, Enhancing Administrator-Clinician Relationships: The Role of Psychological Type. Heal Care Management Review 18, no.2 (1993): 57-65. Maria Chandler, MD, MBA

  11. University of Alabama School of Medicine Baylor College of Medicine University at Buffalo State University of New York School of Medicine & Biomedical Sciences University of Colorado Health Sciences Center School of Medicine Columbia University College of Physicians and Surgeons Joan & Sanford I. Weill Medical College of Cornell University University of Florida College of Medicine Dartmouth Medical School Emory University School of Medicine Indiana University School of Medicine Jefferson Medical College of Thomas Jefferson University University of Kentucky College of Medicine University of Michigan Medical School University of Minnesota Medical School The Ohio State University College of Medicine Saint Louis University School of Medicine Keck School of Medicine of the University of Southern California University of Texas Southwestern Medical Center at Dallas Southwestern Medical School UMDNJ--New Jersey Medical School Vanderbilt University School of Medicine Yale University School of Medicine University of California, Davis, School of Medicine University of South Florida College of Medicine Brody School of Medicine at East Carolina University Texas Tech University Health Sciences Center School of Medicine U.S. MD/MBA Programs (65+) Mayo Medical School McGill University Faculty of Medicine University of Illinois College of Medicine-Urbana Champaign Drexel University College of Medicine University of Iowa Roy J. and Lucille A. Carver College of Medicine Case Western Reserve University School of Medicine Temple University School of Medicine UMDNJ-Robert Wood Johnson Medical School University of California, Irvine, College of Medicine Tufts University School of Medicine University of Chicago Pritzker School of Medicine University of Connecticut School of Medicine University of Illinois College of Medicine David Geffen School of Medicine at UCLA University of Rochester School of Medicine and Dentistry University of Pennsylvania School of Medicine Medical University of South Carolina College of Medicine Wright State University School of Medicine University of Arkansas College of Medicine Georgetown University School of Medicine University of Cincinnati College of Medicine Northwestern University, The Feinberg School of Medicine Wake Forest University School of Medicine Duke University School of Medicine Source: AAMC Curriculum Directory 2007 Maria Chandler, MD, MBA

  12. Dual Degree Popularity #1 MD/PhD 130 #2 MD/MPH 75 #3 MD/MBA 65 #4 MD/JD 21 Total U.S. Medical Schools: 130 Source: AAMC Curriculum Directory 2009 Maria Chandler, MD, MBA

  13. MD/MBA Degree Growth (MD/MBA Programs in the United States: Evidence of a Change in Health Care Leadership by David B. Larson, MD, MBA, Maria Chandler, MD, MBA, Howard P. Forman, MD, MBA. Academic Medicine, March 2003) Maria Chandler, MD, MBA

  14. The Paul Merage School of Business First in nation to establish a healthcare MBA program Highly regarded in news media ranking of business schools: • Ranked #5 in faculty "intellectual capital" (Business Week) • Ranked #6 nationally in Information Technology (The Wall Street Journal 2006) • Ranked #24 internationally (top 10 in U.S.) for Executive MBA programs, faculty research ranked #14 internationally (Financial Times 2006) • Ranked #38 nationally, #19 among public universities for full-time MBA (US News 2006) Maria Chandler, MD, MBA

  15. 5 Year Joint Degree Program Maria Chandler, MD, MBA

  16. MD/MBA Students Acceptedby MBA Start Date 1997 1 1998 1 1999 2 2000 2 2001 3 2002 5 2003 5 2004 5 2005 7 2006 7 2007 10 2008 16 • 8 • 2010 14 • 2011 10 Maria Chandler, MD, MBA

  17. Application Process • Apply on-line • Students apply during their 2nd medical school year • Previous business courses or experience is not necessary • PRIME LC students may apply (please don’t if you’d prefer an MPH) • GMAT not required for admission Maria Chandler, MD, MBA

  18. Employment History – CV. Submit a copy of your CV. • Application Fee. The application fee is WAIVED for medical students. In order to receive your waiver, you must start the online application and request a waiver. Be sure to request the waiver prior to completing and submitting your application. • Admissions Test. No admissions test is required. The MCAT substitutes for the GMAT. • Please submit the online application and all supporting materials by March 2011 Maria Chandler, MD, MBA

  19. Core Organizational Management Financial Accounting Economics Information Technology Business and Government Operations, Marketing Strategy Electives US Health Policy, Federal Health Policy Healthcare Entrepreneurship: Physician to CEO Physicians as Medical Directors Management of Healthcare Organizations Strategic Planning/Marketing of Healthcare services MBA Curriculum Sample Maria Chandler, MD, MBA

  20. Non-profit Clinics Biotechnology Hospital Administration Health Information Technology Entrepreneurial Ventures Legislation/Policy Medical Research Managed Care Academics Pharmaceuticals CAREER OPPORTUNITIES FOR GRADUATES Physician Leaders in… Maria Chandler, MD, MBA

  21. Job Preference of MD/MBA Students Rank 1-3 with 1 most desirable Table adapted from “MD/MBA Students:An Analysis of Medical Student Career Choice" by Windsor Westbrook Sherrill, Ph.D., MBA Maria Chandler, MD, MBA

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  24. Maria Chandler, MD, MBA

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  26. Dual MD/MBA Programs on the Rise:Employers See Value in Business, Medical Training It started with a letter that Maria Chandler, MD, sent to the dean of the medical school at the University of California at Irvine. The pediatrician had recently completed her MBA and offered her assistance if the medical school had any students who were interested in a similar path. Chandler got a quick response. "He sent a letter right back and said, 'How'd you like to start a MD/MBA program here?'" Chandler said. That was in 1996, and only a handful of schools offered the dual degree. Today, there are more than 130, and Chandler has gone on to create the National Association of MD/MBA Students, a non-profit organization aimed at helping graduates. Most of the students who pursue dual degrees are entrepreneurial by nature, Chandler said. Surveys of the graduates show most choose to pursue clinical practice for at least a little while after graduation, although many choose to assume administrative duties at an early age. Employers are starting to recognize the value of a dual degree in medicine and business. In fact, Wellpoint has created a fellowship program designed especially for these grads. Called the Physician Executive Fellowship, the one-year program is aimed at grooming physicians for careers in medical management. "I'm hoping other organizations follow suit and say they have to start training these young physicians as well," Chandler said. One of the biggest misconceptions about dual degree students is that they are motivated by money, she continued. In fact, research has shown most students who choose dual degrees want to make a difference in health care. These students need guidance, however. Chandler said most are hoping to connect with a mentor. Many need ideas for projects they can do for credit -- highly complex examples of knowledge in both medicine and business. In fact, the dual degree students at the University of California at Irvine created the business plan for the school's simulation center and helped bring it to fruition. Research shows most students are pleased with their choice to pursue a dual degree. According to a survey of 87 graduates, 90 percent said they were "happy" or "very happy" with their degrees. Chandler said she hopes someday that all medical schools will not only offer a dual degree but incorporate business principles into their medical curriculum. "Physicians are trained in a dictatorial way," she said. "They're trained to be the dictator of their OR ...whereas business school is all about a team approach."

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  28. Graduating Class Maria Chandler, MD, MBA