The Wayne State University School of Medicine and the Mike Ilitch School of Business are seeking the involvement of parties with experience in the business of medicine to assist in launching a new joint degree program in which medical students can earn a master’s 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 said participation may include:
* Meeting with the curriculum development team
* Becoming a member of the curriculum development and course delivery team
* Sharing expertise as a guest lecturer in one of the program’s classes
* Connecting the team to individuals and health care organizations to identify opportunities for experiential learning through case studies and projects focused on real business challenges in health care settings.
Visit https://forms.wayne.edu/626c150cf09bd to learn more about participation in the program and to register your interest.
Announced in October 2021, the program’s curriculum will provide students with core courses in both medicine and business, as well as supporting elective courses in each field, and specialized courses in both. Upon successful completion of the program, students will be prepared for employment as physicians and in a wide range of additional settings in the public and private sector.
The program is a partnership between WSU’s School of Medicine and Mike Ilitch School of Business.
The joint M.D.-M.B.A. program will open career pathways to leadership roles in hospital administration, more effective participation in health care policy research and policy development, and opportunities with pharmaceutical, medical device, health tech and insurance companies. The program also opens the door to entrepreneurial endeavors ranging from the creation of a private practice to the establishment of non-profit organizations focused on efforts to address health disparities, to a potential role of founder or medical advisor to health care startups.
Several M.D.-M.B.A. programs already exist at other medical schools, but the majority are five-year programs, which require medical students to pull out of their medical education programs for a year, delaying graduation and the start of residency programs. The WSU program will allow students to complete both degrees in four years.
Medical students enrolled in the program will take M.B.A. courses concurrently during the 18-month Pre-Clerkship and 14-month Post-Clerkship phases of their medical degree education. Students are first granted admission to the medical degree program and then apply to the M.B.A. program during their first year of study. Students will complete a minimum of 36 credits for the M.B.A. degree, with nine credits transferred from the M.D. program. Nine credit hours are double-counted to fulfill requirements for both degrees, saving students time and money.
Physicians who have both a medical degree and a master’s of business administration degree will be valuable candidates for leadership positions at hospitals, health care systems and health and medical-related businesses.
The Association of American Medical Colleges reports that students who select an M.D.-M.B.A. program often develop careers in medicine with clinical and administrative responsibilities. The M.B.A. coursework prepares them to administer clinics and medical centers, manage health care organizations and become more effective advocates for patients while striving to improve the health care system.