John Responds to a Listener’s Question

This week, I spend a few minutes discussing which advanced degree to pursue. This issue was triggered by a listener’s question. And it truly made me think more deeply about the issue.

[fusebox_track_player url=”http://traffic.libsyn.com/forcedn/physiciannonclinicalcareers/Which_Advanced_Degree_Will_Be_Right_for_a_Nonclinical_Career.mp3″]

I start by listing the general principles to consider when deciding on which advanced degree to pursue if any. There is no randomized controlled study to apply to the decision. But my comments reflect my opinion based on my observations and conversations with other physicians.

Our Sponsor

We’re proud to have the University of Tennessee Physician Executive MBA Program, offered by the Haslam College of Business, as the sponsor of this podcast.

The UT PEMBA is the longest-running, and most highly respected physician-only MBA in the country. It has over 700 graduates. And, the program only takes one year to complete. 

By joining the UT Physician Executive MBA, you will develop the business and management skills you need to find a career that you love. To find out more, contact Dr. Kate Atchley’s office at (865) 974-6526 or go to nonclinicalphysicians.com/physicianmba.

The Question.

The listener had decided to obtain an advanced degree to help advance his career. But he wanted a degree with practical short-term applications. And rather than the fairly popular executive MBA, such as the degree that my sponsor, the University of Tennessee Haslam College of Business provides, he had narrowed his search to the following:

  • Master of Applied Science in Quality Improvement and Patient Safety;
  • Master of Science in Quantitative Management and Healthcare Analytics; and,
  • Master of Science in Clinical Informatics Management.

Each was taught at a different graduate school. And all of them were well-known organizations with good reputations. And they varied from one year to two years in duration. We did not discuss the cost of each.

Deciding to Pursue an Advanced Degree

Here are the most important considerations I would keep in mind when thinking about this major decision:

  • Many current physician executives, including CMOs and CEOs, have NO business degree.
  • Many CMOs started with NO business degree and completed one AFTER getting their first CMO position.
  • There are 3 primary benefits to obtaining an advanced degree:
    1. You learn useful skills, techniques, concepts, tools, etc. Note, however, that most, if not all, can be learned through reading, online courses, and courses through organizations such as the American Association for Physician Leadership.
    2. You demonstrate your commitment and provide evidence of knowledge of business, management, finances, etc. that you might NOT be able to demonstrate otherwise.
    3. You develop a network of colleagues working in teams while completing your degree. Be sure to ask about this aspect – the vitality of the alumni group and connections developed – do they persist beyond the formal education?

Which Advanced Degree?

These decisions do not exist in a vacuum, and the most important issues to consider are:

    1. Does the program deliver all of the above benefits?
    2. What are the total costs of each program?
    3. How much time will you need to devote on a weekly or monthly basis (5 hours, 20 hours, full time)?
    4. The total time needed to complete the degree (as little as a year, even while working your regular job, or as long as 3 or 4 years completing one course per semester or less); and,
    5. Whether to attend a big name school to further enhance your prospects of landing the most competitive positions.

Summary

It is human nature to want to select the “perfect” option for your career when choosing the degree and the institution to attend. Remember, however, that the most important aspect may be the effect the decision will have on your finances, time demands, and family life. 

If you have a question about anything we talk about on the podcast, please contact me at nonclinicalphysicians.com/voicemessage and leave me a message. I always respond. And while I may discuss it on the podcast, I will NOT share your name without your permission.

NOTE: Look below for a transcript of today’s episode that you can download or read.

Links for Today’s Episode:

Download This Episode:

Right Click Here and “Save As” to download this podcast episode to your computer.

If you enjoyed today’s episode, share it on Twitter and Facebook, and leave a review on iTunes.

Podcast Editing & Production Services are provided by Oscar Hamilton

[fusebox_transcript]
Disclaimers:

Many of the links that I refer you to are affiliate links. That means that I receive a payment from the seller if you purchase the affiliate item using my link. Doing so has no effect on the price you are charged. And I only promote products and services that I believe are of high quality and will be useful to you.

The opinions expressed here are mine and my guest’s. While the information provided on the podcast is true and accurate to the best of my knowledge, there is no express or implied guarantee that using the methods discussed here will lead to success in your career, life, or business.

The information presented on this blog and related podcast is for entertainment and/or informational purposes only. I do not provide medical, legal, tax, or emotional advice. If you take action on the information provided on the blog or podcast, it is at your own risk. Always consult an attorney, accountant, career counselor, or other professional before making any major decisions about your career.