MBA seems to be the most sought after post graduation option nowadays. So, if you are a doctor you must have contemplated this choice while thinking of MD S or MS. There are many management specializations for medical students. If you are confused whether to change your profession as a doctor and become a manager then you should follow your aptitude. If you are very good as a doctor then you should pursue a MDS or MS in the area of your interest. Or else, if you have good managerial skills then very well go for MBA where there is a lot of scope for you.
Doctors who go into management can find great jobs in hospital management and administration. There are big medical electronic companies like Philips or GE which would absorb MBA grads with a background of medicine. These companies develop products and services which can best be done by doctors. Besides, there is tremendous scope for clinical research. Doctors with management background can do a phenomenal job in terms of product development and management.
It is not necessary that you have to move away from your medical profession once you have a management degree. You can very well continue to practice. Infact, a doctor with managerial skills can provide the best treatment, which is cheapest for the patients. A MDS/MBA integrated degree is very popular in the west. More and more students are showing interest in health-care management.
Considering the amount of money spent on becoming a doctor, it is necessary that you have the skills to earn as much (if not more) in as little time as possible; for which business knowledge is crucial. However good a doctor you may be, or however great your clinic is, you need patients to keep coming in and that requires planning and strategic overview of things. However, people in the medical community are not simply pursuing MBAs as a sort of one-stop shop for business education. There are also master's degrees in public health care and executive MBA programs for doctors.
Whatever said and done, a MBA degree will help you make money but not save a life, only clinical knowledge will help you do that. So, it is very essential that you practice as a doctor for not less then 5 years before you pursue a MBA degree.
You can find employment in hospitals and other healthcare organisations. The tasks would typically involve managing the staff, health services and containing the expenditure. While both medical and non-medical graduates can take up the course, medical graduates would be dealing more with the technical aspects of hospital administration.
Tata Institute of Social Sciences, Maharashtra offers Master of Hospital Administration. The eligibility criteria are graduation in any discipline with minimum 50 per cent marks and age not more than 45 years. The admission is based on entrance test, group discussion and personal interview. For details, visit www.tiss.edu
Manipal University, Manipal Institute of Management, Manipal offers MBA in Hospital Administration and Health Care Management. The eligibility criterion is graduation in any discipline with minimum 50 per cent marks. The admission is based on performance at Management Aptitude Test, group discussion and personal interview. For details, visit www.manipal.edu
Doctors doing MBA for better pay
More doctors and healthcare professionals are joining management schools, turned away by the limited number of seats for a post-graduate course in medicine and the prospects of a better pay package after graduating from a B-school.
Doctors who have successfully completed an MBA course get job offers with packages of anywhere between Rs 12 lakh and Rs 18 lakh per annum. While ‘normal’ MBA students get Rs 8-18 lakh per annum. At IMT Ghaziabad, there was one doctor last year. Now, there are two, even as companies like Ranbaxy and Dr Reddy’s come for campus recruitments.
The trend is only increasing due to the boom in the healthcare and pharmaceutical industry. The Indian pharmaceutical market (IPM), which was valued at Rs 55,500 crore last year, grew 8.9 per cent in July and 18.3 per cent in June, according to ORG IMS, which tracks sales of drugs in India.
Consider this: In the class of 2010 at the Indian School of Business, Hyderabad, there are 13 students with a background in medical studies — up from 10 in 2008 and substantially up from six in 2007.
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