Physicians Executive MBA Programs
There are several physicians executive MBA programs available for doctors wishing to increase their business knowledge and managerial skills. Learn about the format of these programs, common course topics, and the application process here.
How to Earn a Physicians Executive MBA
Executive Master of Business Administration (MBA) degree programs that are designed for physicians and dentists are typically offered in a hybrid format with online coursework and in-person residencies and/or study abroad experiences for hands-on learning. Some of these programs follow a cohort model and can be completed in about 12 to 21 months, depending on the program. Students take a variety of core business courses at the advanced level, and here, we'll discuss some of the common courses in more detail.
Courses in organizational leadership examine the techniques and methods used to help manage and lead an organization. Some of these courses include topics in organizational behavior, ethics, and ways to implement change. Students in these courses may use case studies, simulations, discussions, and more to further develop their analytical and leadership skills. Other topics for these courses may include team building, group behavior, analytic frameworks, and assessment.
Courses in health policy may focus on the examination of healthcare policies at the federal or state levels. Courses focused on the federal level may explore the legislative process, federal policies, and policy issues that affect the provision and delivery of healthcare. Courses focused on the state level may explore states' policy-making processes, state responsibilities for health programs, and state-level healthcare reform.
Students may take multiple courses in finance that cover areas like financial accounting, financial analysis, and healthcare finance. In general, these courses aim to equip students with an understanding of financial topics and techniques used for financial management, with a special focus on healthcare-related finance. Students may discuss topics in capital budgeting, capital investment analysis, financial planning, accounting practices, reporting issues, and more.
With a growing reliance on technology in the field of healthcare, students may take a course that provides an overview of healthcare technology and information systems or a course that examines how information systems can be used for competitive advantage from a business standpoint. Courses that provide students with an overview of the subject may discuss the role of technology in healthcare, how different healthcare entities, like insurers and hospitals, can affect technological progress, and the development of medical innovations. These courses may utilize case studies and updated literature or news articles in the field. Other courses may examine how technology is used to develop and implement strategies that can help organizations gain a competitive edge over others.
Students in marketing courses learn how to develop marketing strategies specific to the healthcare industry. These courses provide students with an understanding of key marketing concepts like target markets, promotion, market research, social marketing, price, and distribution. Courses like these also typically focus on consumer theories and consumer behavior to help students better understand how to develop products that meet a need and market those products.
Admittance Requirements for Physicians Executive MBA Programs
Students applying to a physicians executive MBA program are required to hold a medical doctorate, such as an MD or DO (some programs also accept a DMD or DDS), and have completed their residency training. Some programs also require applicants to have at least 5 years of work experience in the field of healthcare, demonstrate an increase of professional responsibilities and achievement in their field, and/or show leadership experience in the field. Although entrance exams, such as the GRE or GMAT, are not typically required, students may be asked to meet a minimum GPA requirement of around a 2.7 to 3.0. The application process for these executive MBA programs usually requires applicants to submit their official transcripts, including medical school transcripts, a resume or CV, and an essay response with their application. Many of these programs do have an application fee and may require a deposit to reserve a spot in the program or an interview at some point throughout the admissions process.
Physicians executive MBA programs are usually available in a hybrid format with online coursework and on-campus residencies, and they can be completed in 12 to 21 months. Designed exclusively for physicians and, in some cases dentists, students in the program study a wide range of business subjects, such as marketing, organizational leadership, and finance related to the field of healthcare.