Published May 9, 2014
University at Buffalo graduate clinical trainees can simultaneously complete their residency or fellowship along with a new, specialized Master of Business Administration (MBA) degree — the first dual program of its kind in New York State and one of a few in the nation.
Offered by the UB School of Management in collaboration with the School of Medicine and Biomedical Sciences, the Accelerated MBA for Residents/Fellows can be earned in approximately three semesters.
The MBA program is designed to help physicians develop the leadership and business skills they need to measure quality of care, negotiate with third-party payers, manage medical practices efficiently and help lead the health care system in the future.
The program will augment the “strong curriculum in scientific, clinical and ethical skill sets” that graduate medical trainees experience during their residencies and fellowships, explains Philip L. Glick, MD, MBA, professor and vice chair of surgery.
Participants will develop business acumen in various areas that “contribute to good clinical outcomes for patients and are essential for successful, satisfying professional careers,” says Glick, who also is the liaison between the medical school’s Office of Graduate Medical Education and the school of management.
Areas of study include:
Through the new UB program, particpants begin MBA coursework after their first year of residency and complete all requirements by the end of their clinical training, in approximately three semesters, instead of the typical four.
The program is open to those currently in a clinical training program administered by the Office of Graduate Medical Education; trainees must apply separately to the school of management.
More information is available from Glick or Jennifer VanLaeken, assistant director of recruitment for the school of management graduate programs.
As a physician who earned his MBA at Northwestern University’s Kellogg School of Business nearly two decades after completing his residency, Glick can attest to the importance of developing both business and clinical skills.
“Our health care system is growing more complex by the year,” he notes.
“If I would have had the opportunity to earn an MBA as a medical student, general surgery resident or pediatric surgical fellow, I could have avoided many of the nonclinical mistakes I made by not having all the skill sets to negotiate this complex environment.”
Glick says MBA training can change how physicians look at the world. “My MBA has provided me with much greater professional satisfaction, career opportunities and — without a doubt — a significant return on the investment,” he says.
The opportunity to complete both an MBA and a clinical residency at the same time is attractive to ambitious physicians who aspire toward leadership positions in health care, says Michael E. Cain, MD, vice president for health sciences and dean of the medical school.
“Very few medical schools nationwide are able to offer an accelerated MBA to their residents,” he emphasizes.
As the economics of medicine evolve with health care reform, “physicians with MBA degrees will be ahead of the curve,” notes Arjang Assad, PhD, dean of the UB School of Management.
The new program complements the school of management’s current dual and collaborative degree programs in business and health.
Additionally, practicing physicians can take advantage of the established Executive MBA program.