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In the HCEMBA program, you graduate with an MBA, as you do in the Executive MBA program. But in the HCEMBA program, when you take courses in accounting or microeconomics, the professors will use health care examples, so the information applies to your field.
In the Federal Health Policy course, we go to Washington DC for a weeklong public policy residential. We hear from lobbyists, policymakers, reporters, government agencies, house staffers and think tanks. The HCEMBA Program is the only MBA program in the country that offers this experience. In health care, fully five cents out of every dollar is spent by the government. Since the government is so pervasive in health care, going to Washington increases students’ understanding of something that impacts their daily working lives.
Many physicians have been on the receiving end of business, having guidelines and rules imposed on them by insurance companies, the government and others. The HCEMBA Program offers an opportunity to take control and develop how they would like to practice and the type of organization they would like to practice in, rather than having things imposed on them.
Why get an MBA if you are a physician? In today’s marketplace you have to know how to formulate an overall strategy, develop a budget, run a medical group, market your group, and negotiate with insurers and hospitals. And if you are on a board or a committee of a hospital, you have to understand all the budget figures. Unless you know the business side of medicine, you are going to be at a big disadvantage.
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