MBA degree may enhance value of medical education
Posted on 4/10/2010
While graduating form medical school is a great achievement in itself and can lead to a lucrative career, some doctors are finding that combining their MD degree with business administration coursework may make them even better suited to achieve their goals.
"I plan to utilize business practices to more aggressively tackle the upstream causes of diseases," said Marcel Tam, who is pursuing a joint MD/MBA degree at Boston University, quoted by the school's website.
In fact, Tam plans to use his interest in fighting obesity to devise a broader strategy to combat the problem that goes beyond the advice to lose weight that he would give their patients as a regular MD. He told the news provider that his business skills could be channeled towards opening a grocery store affiliated with his medical practice that would sell natural nutritious food.
To get a sense of how an MBA can enhance the earning power of a doctor, it may be worth citing government statistics, which say that the median annual salary for physicians practicing in medical specialties was $339,738 in 2008. Meanwhile, MBA holders can count on salaries ranging from $73,510 to $171,583, depending on the field in which they work.
"I plan to utilize business practices to more aggressively tackle the upstream causes of diseases," said Marcel Tam, who is pursuing a joint MD/MBA degree at Boston University, quoted by the school's website.
In fact, Tam plans to use his interest in fighting obesity to devise a broader strategy to combat the problem that goes beyond the advice to lose weight that he would give their patients as a regular MD. He told the news provider that his business skills could be channeled towards opening a grocery store affiliated with his medical practice that would sell natural nutritious food.
To get a sense of how an MBA can enhance the earning power of a doctor, it may be worth citing government statistics, which say that the median annual salary for physicians practicing in medical specialties was $339,738 in 2008. Meanwhile, MBA holders can count on salaries ranging from $73,510 to $171,583, depending on the field in which they work.
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