Recently, a physician friend of mine told me that he had started an online MBA program to complement his current job duties at a national health insurance company. He was recently promoted and now managed a large budget for more than 90 people, including physicians. As he described his motivations for pursuing an MBA degree, I was struck by one specific comment he made: "People [colleagues] will take me more seriously [when making management decisions] if I have my MBA."

The irony of the situation perplexed me: Here was a man with an MD degree and a Master's in Public Health—both from prestigious universities—saying that his colleagues didn't take him seriously. Albeit, his colleagues were referring specifically to business decision-making practices. However, it goes to show that the line between being a clinician and being a businessman is blurring. Another physician friend recently told me that he refused to go into private practice because he did not want to be burdened with having to make financial and/or management decisions for his business that could get in the way of the optimal care he wanted to provide for his patients. However, as a lead physician at a research hospital, he's finding that he can't get away from a tremendous amount of management and administrative duties, in addition to the clinical responsibilities.

Medical schools—and schools for other health care providers—have traditionally lacked business management education in their curriculum, and these days, that lack may be more crucial than ever. No matter where you stand politically, almost everyone can agree that our nation's health care system is in dire need of reform. Unaffordable health care access, decreased reimbursement, and unfair insurance company policies are high on the list of concerns for policymakers—and activists.

A 2007 study on the utility and effect of a business degree on physicians' careers showed that many physicians decide to acquire an MBA degree to understand the business of medicine.¹ In the study, physicians stated that the most pertinent skills they had acquired were those related to evaluating systems operations and implementing improvements, learning how to be an effective leader, comprehending financial principles, working within a team, and negotiating effectively.¹ Eighty-one percent of the physicians surveyed believed that their business degree had been very useful or essential in the advancement of their careers.¹

What if you are a health care provider who does not necessarily want to pursue a career in the business side of medicine? Does not having a strong foundation in this area limit you in overcoming the multifaceted challenges of the evolving health care system at some level? Specifically regarding the push for the DPT degree, is this the best direction for further education for PTs? What percentage of the DPT curriculum is dedicated to managing a successful clinic or a team of PT colleagues?

I would love to hear thoughts from PTs who own their own facilities and either have or don't have a business degree. What were your key learning experiences for the business side of health care? And, most importantly, do you feel equipped to be both a dedicated clinician and a successful businessperson in today's health care market?

Arati Murti

REFERENCE

1. Parekh SG, Singh B. An MBA: The utility and effect on physicians' careers. J Bone Joint Surg Am. 2007;89:442–447.