Earning an MD is nice, but earning an MD/MBA is better. It gives you a great deal of career flexibility after you graduate – especially if you want to do more as a physician. Oh, hey, did you know AUA has an articulation agreement with Urbana University that allows qualified students to earn a Healthcare MBA online? Here are some opportunities you’ll have as an MD/MBA:
Private Practice Ownership
Being your own boss is pretty sweet, but with zero business experience, it could be pretty tough to start up a private practice. You’ll need capital to put it together and a solid business plan to attract future patients. An MBA education covers all of that. Plus, it’s a lot nicer to say you own instead of rent space in a healthcare facility.
Instead of being a cog in the machine, you can run it. Hospital administrators are in charge of the everyday operations of a hospital. If you’re a generalist, you’ll be in charge of managing the entire facility. As a specialist, you’ll control a department. No matter what path you take, you’ll be able to call the shots for the physicians working under you. You’ll essentially be a super physician.
Healthcare Company Executive
This is the ultimate combination of an MD and MBA. Healthcare companies need MDs on staff but, particularly, ones who are adept in business. There are hundreds of companies that create innovative approaches to healthcare. You may be on the team that develops the next breakthrough in medicine. So, when lives are saved by a new miracle drug, you can say you managed that project using your business-savvy skills.
If you’re feeling a bit more altruistic, working at a non-profit may better befit you. Non-profits like Doctors Without Borders lead teams all over the world, responding to every kind of healthcare crisis. You won’t make as much as you would working for, let’s say, a Fortune 500 company, but you’ll make a difference in the world and you can’t beat that.
Healthcare Business Consultation
Can’t decide which one of these options you like best? Why not cover them all by becoming a consultant? Being a consultant will allow you to practice as a full-time physician and receive a substantial paycheck by advising a company, hospital, or non-profit with your expert medical advice. Be warned, this is a very difficult career to launch because it’s largely dependent on networking, but once you do, you’ll be exposed to every aspect of the medical field.
Want to earn an MD/MBA soon? Apply today!