MD-MBA program seeks support from alumni and veteran healthcare professionals – School of Medicine News

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Wayne State University School of Medicine and the Mike Ilitch School of Business are seeking the participation of parties with experience in the medical business to help launch a new joint degree program that will allow medical students to earn a Masters of Business Administration degree concurrently with a four-year medical degree.

The team overseeing the development of courses and learning experiences for the joint degree program states that participation may include:

* Meeting with the curriculum development team

* Become a member of the curriculum development and course delivery team

* Exchange of experiences as a guest lecturer in one of the courses of the program

* Connecting the team with healthcare individuals and organizations to identify opportunities for experiential learning through case studies and projects that focus on real healthcare business challenges.

Visit https://forms.wayne.edu/626c150cf09bd to learn more about participating in the program and to express your interest.

Announced in October 2021, the program’s curriculum will provide students with core courses in medicine and business, as well as supporting elective courses in each field and specialized courses in both fields. After successfully completing the program, the students are prepared for work as doctors and in a wide range of other areas in the public and private sector.
The program is a partnership between WSU’s School of Medicine and the Mike Ilitch School of Business.

The joint MD-MBA program will open career paths to leadership positions in hospital administration, more effective involvement in healthcare policy research and development, and opportunities at pharmaceutical, medical device, health technology and insurance companies. The program also opens the door to entrepreneurial endeavors ranging from starting a private practice to founding non-profits focused on tackling health inequalities to a potential role as a founder or medical advisor to healthcare start-ups.

Several MD-MBA programs already exist at other medical schools, but most are five-year programs that require medical students to drop out of their medical training programs for a year, delaying completion and the start of residency programs. The WSU program allows students to complete both degrees in four years.

Medical students enrolled in the program concurrently take MBA courses during the 18-month pre-clerkship and 14-month post-clerkship phases of their medical education. Students are first admitted to medical school and then apply to the MBA program in their first year of study. Students complete a minimum of 36 credits toward the MBA degree, with nine credits transferring from the MD program. Nine credit hours count double to meet the requirements for both degrees, saving students time and money.

Physicians who hold both a medical degree and a Master of Business Administration are valuable candidates for leadership positions in hospitals, healthcare systems, and healthcare and healthcare-related companies.

The Association of American Medical Colleges reports that students who choose an MD-MBA program often develop careers in medicine with clinical and administrative responsibilities. The MBA coursework prepares them to manage clinics and medical centers, lead healthcare organizations, and become more effective patient advocates as they strive to improve the healthcare system.

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