Central PA Medicine Fall 2017 - 16

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Community, Health & Wellness

Why an

MBA?

By EMMA DAHMUS, Medical and MBA
Student at Pennsylvania State University

T

o some, combining business with coverage. I see it as part of my obligation as business dictate how care is delivered, yet
medicine may seem bizarre, maybe a future physician to help guide my patients few are equipped to truly understand it all.
even unethical. How can a physi- and peers through this difficult maze that
cian effectively care for a patient has been set up by the healthcare system.
Finally, I am hopeful the MBA will provide
while comparing him or her to a business
me the tools to one day address the rising
transaction? While this visualization may be
Medical schools are just beginning to gain cost of medical education. Medical students
unpleasant to most, it is becoming evident the skills to teach these subjects, including are entering residency programs with hunthat in order to practice cost-conscious care, Penn State as one of the first to develop its dreds of thousands of dollars in debt, and
ultimately leading to patient-centered care, Science of Health Systems course three years yet financial education is essentially absent.
the physician of the future must understand ago. While Penn State's College of Medicine While simultaneously acquiring a degree at
the business of medicine. Acquiring an MBA provides the vital education necessary for a cost of approximately $300,000, many of
provides more than just an understanding their medical students to eventually take care these physicians are wanting to start their
of number crunching and liabilities, it also of their future patients, Penn State, and most lives by getting married, starting families,
provides invaluable skills necessary to work other medical schools, fall short in educating and buying homes, which all do not come
efficiently in teams and perspectives on stra- their students of a primary growing concern without a hefty price as well.
tegic leadership. It is with these skills I will in healthcare: understanding healthcare
be able to ultimately operate the healthcare costs. Why does healthcare cost so much?
I hope to see a future where medical
system and work with health administrators How can one begin to understand finances students graduate financially savvy, ready
and insurance companies in order to gain a in hospitals? Why must one tell a patient he to start their productive and happy lives
better control on healthcare costs.
or she cannot receive a certain treatment or doing what they hoped to do when they
medication, based on insurance and cost? initially signed up for medical school: taking
From the perspective of a medical student, Unfortunately, these questions are familiar care of patients. Medicine is heading in the
the MBA from Smeal provides education to to many physicians across all specialties, direction where physicians will be restrained
better navigate healthcare finance, enhance yet they seem to always be left unanswered. by what type of care they can provide because
strategic leadership, and incorporate policy, Medical school and residency unleashes a of its cost. Learning the business side of
management, team process, and commu- relentless firehose of information for our medicine will allow me to learn ways to
nication into daily work. Cost-conscious providers, yet there are major aspects in coordinate with health administrators and
care is a growing concern, especially with medicine, mainly including insurance, cost insurance companies. I will understand
health care reform at the center of attention and value, that are not covered by the hours why things cost so much, and ultimately,
in Congress. It has become apparent to upon hours our professionals spend in the I can improve healthcare prices, thereby
the public exactly how a person's access to hospital. Whether a physician understands enhancing patient care.
healthcare hinges upon his or her insurance it or not, these nuances of the healthcare

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https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter2021
https://www.nxtbook.com/hoffmann/CPAMed/CPMFall2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMSummer2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMSpring2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMFall19
https://www.nxtbook.com/hoffmann/CPAMed/CPMSummer19
https://www.nxtbook.com/hoffmann/CPAMed/CPMSpring19
https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter19
https://www.nxtbook.com/hoffmann/CPAMed/CPMFall18
https://www.nxtbook.com/hoffmann/CPAMed/Summer2018
https://www.nxtbook.com/hoffmann/CPAMed/CPMSpring18
https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter18
https://www.nxtbook.com/hoffmann/CPAMed/Fall2017
https://www.nxtbook.com/hoffmann/CPAMed/CentralPAMedicine_Summer17
https://www.nxtbook.com/hoffmann/CPAMed/CentralPAMedicine_Spring17
https://www.nxtbook.com/hoffmann/CPAMed/CentralPAMedicine_Feb2017
https://www.nxtbookmedia.com