When Kids Return to School. Next HDLive! Fri. 6/5 at 2:45 PM ET

Follow Our Live Coverage of COVID-19 Developments

Business Degree Increasingly Useful for Doctors

With increased focus on value, business analysis skills sought after

Please note: This article was published more than one year ago. The facts and conclusions presented may have since changed and may no longer be accurate. And "More information" links may no longer work. Questions about personal health should always be referred to a physician or other health care professional.

THURSDAY, Sept. 27, 2018 (HealthDay News) -- Having a Master of Business Administration degree (M.B.A.) can help doctors with important, practice-related decisions, according to a report published recently in Physician Practice.

With the move to value-based care and increased scrutiny of health care costs, experts say a business approach to medicine is increasingly required. More medical schools are responding to this need by offering dual-degree M.D./M.B.A. programs. The number of such programs has grown from six in 1993 to more than 65 now.

Having an M.B.A., can increase physicians' comfort in using spreadsheets and developing the financial analysis needed to make practice-related investment decisions, like buying or renting new equipment, real estate decisions, and practice acquisition strategy.

"Health care is a business, and until you understand the language of business, it's hard to do business in health care," says Rich Joseph, M.D., M.B.A., a resident at Boston's Brigham and Women's Hospital, adding that there is still a gap in medical education's ability to keep up the demands of health care delivery today.

Abstract/Full Text

Last Updated: