More Doctors Opting for MBA: New Trend in Healthcare Business

If I ask you to identify that person in a white coat with stethoscope hanging around his neck, then prompt will come your reply "A Doctor'. Don't we have this stereotypical image of this novel profession since our childhood days? Aren't we all used to this proverb ‘An Apple a day keeps a doctor away'? But what if I tell you that today's doctor isn't just restricted to the bounds of a hospital premises or a clinic's doors. He is looking beyond these parameters and expanding his wings. Thus, it should come as a surprise that more doctors today are opting for MBA, a booming new trend in Healthcare business.

The pressure created by government regulators and insurance companies has pushed more and more physicians across the world to think more like entrepreneurs. Considering the fact that world is transforming at a rapid speed, students entering Medical profession too have decided to move ahead with time. To lay an example, some physicians with large amount of research don't really know how to handle money so they tend to go in for some kind of business training.

According to experts, since physicians aren't sufficiently involved in running the healthcare business, problems arise. To tackle this, they need entrepreneur skills regarding how to navigate with the wish of payers to hold down costs and monitor uses in health care.

Since MBA is an emerging new trend in Healthcare business, students have begun seeking joint programs as a key to survival in the future of healthcare. Many have even taken the initiative of focusing upon adapting technology to healthcare rather than solely doting on electronic medical records. Physicians being bright people, try making a difference into people's life, however, due to challenging and taxing environment, many think of leaving or modifying the profession.

With a MBA degree to their backing, physicians not only land in a better position to understand the nitty-gritty's of entrepreneur domain but they are also benefit their profession by adequately contributing to it. By diving into the realm of the unknown, they are able to understand the areas of finance, capitals and add stars to their existing Medical profile.

Source: Priyanka Wali (Shiksha Team)