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A Greater Academic Experience for Medical Personnel

It is often said that healing is an art, medicine is a profession, and health care is a business. The real challenge is to make the business as good as art.
The health care is an economic activity that has to be professionally managed. In response to the need for better health-care management, more and more doctors in the western countries started getting themselves enrolled in business schools. There are medical schools and business schools that the medical students could attend after graduation.
The cost of health care has become a part of the job profile of doctors. Young students and physicians feel that the best way to tackle this worry is to equip themselves with business basics by getting an MBA. A business degree enables them to see the hospital and treatment process from an efficient perspective that would bring down the costs without reducing its quality.
Business has become an essential part in the daily work of the medical professionals. As hospitals increasingly focus on profitability, the costs of the prescription drugs continue to skyrocket, and patients see higher bills for medical insurance while doctors and other medical personnel are stagnated in the middle. As medical institutions worldwide place a stronger emphasis on leadership and business acumen, many physicians are turning to MBA degrees to learn the essential business skills.
Developments in the medical field have opened up a number of career options such as, advances in the sectors of biotech, medical devices, medical informatics, data analysisetc and population management has also increased the requirement of physicians with MBA skills. Students with MBA degrees can also go into pharmaceutical marketing, hospital administration, or wellness center or medical organisation management. They might also be invited to participate in health-care policy-making or to support in implementing government health-care programs. One extra advantage that the MBA program brings to the students is the opportunity for a mid-career move.
Doctors with MBA degrees are seen as ideal candidates for the positions of hospital administrators, who earn higher salaries than clinical doctors—according to a requirement analysis in 2019, hospital administrators need a sound MBA for effective management. A study has found that hospitals managed by doctor-CEOs have done better than those without a physician at the top. Hospital administrator feels doctors cannot become administrators without a proper business training. How will they handle a big hospital budget?
In addition to career motivations, students who join in MBA degree programs, are also motivated to make a difference in health care. At a time when health care has been beset by business problems, and as hospitals implement the affordable care, medical students find themselves increasingly wishing that they knew more about business management. They have realised that issues such as team building and budgeting are better handled by an MBA degree holder. Additionally, doctors with joint degrees seem to have a higher aptitude in involving with decision-making at hospitals. In the past, medical students who were following joint MBA programs faced criticism from their peers as they felt that the mission of health care clashed with business goals. But now, Medical profession in our country has totally changed positively and the community appreciates their contribution to the country. MBA in KIU provides a standard global qualification and the opportunity to share a wide range of values and experiences which can add significant values to your career. Building an international network may also provide a valuable asset later in your career. This must be helpful to your professional growth for a long period.
The MBA degree is vital today to standardise the healthcare management. Furthermore, it would help you see the big picture of the healthcare industry and give you knowledge and insights into various areas of healthcare operations. For those who are already working in this field, this degree can be a great way to boost your career prospects and take up senior positions.
The KIU MBA program covers various disciplines required for efficient management, including best practices, process improvement, operations management, marketing, financial management and decision-making, human resource management as well as strategic planning and management.
Programs are usually constituted with local and foreign industrial visits and experiential learning that allow students to practically apply the skills that they learn in classrooms, use the knowledge gained to tackle various real-world issues and develop innovative solutions for various challenges faced by healthcare organisations and any other organisations. The changing landscape of politics and healthcare makes business-savvy physicians even more in demand. KIU MBA graduates learn all about business not just the business of healthcare, thus preparing them to be business leaders and corporate influencers.

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