What I learned at the physician MBA retreat

Duel degree MD/DO MBA programs are now offered at 63 medical schools in the US. Since the average number of graduates in each program is about 15, my back of the envelope calculation shows that we are pumping out about 1000 of these folks each year. There are about 20,000 medical school graduates each year. We don't know how many physician MD/DO MBAs there are in the active physician workforce or what roles they play.

To address the issues, challenges and opportunities facing physician MBAs, several cosponsoring organizations, including the Society of Physician Entrepreneurs, and the Association of MD MBA programs convened a 2 day physician MBA retreat. While the range of topics discussed were extensive, the primary focus was on personal and career development, physician resilience, and entrepreneurship.

Here's what I learned and heard from the highly interactive group discussions:

1. Undergraduates and medical students are confused about whether they should get an MBA, and , if so , what kind of program or other dual degree
2. Whether dual degree MD MBA programs are valuable, and if so, to whom and by how much?
3. In the face of projected workforce shortages and state supported mandates to create an adequate physician workforce in a given state, is it good public policy to encourage MD MBA degrees when there is a risk of doctors leaving clinical practice altogether or prematurely as a result. What does it cost to train a heart surgeon who leaves practice shortly after completing her residency?
4. When is the best time to get an MBA-before, during or after medical school or residency after you have had a chance to get life and career experience
5. How is the cost of adding an MBA to already onerous student debt loads impacting career choice?
6. How do we incorporate education and training in the business of medicine, leadership and entrepreneurship into medical school and residencies?
7. What are some best practices and lessons learned from those who have added non-clinical gigs to their clinical jobs or those who have succeeded in non-clinical careers?
8. What did people learn from their career progression mistakes?
9. How do you succeed as a physician intrapreneur or edupreneur?
10. Why is it important to get an MD MBA or some other dual degree, or, are there other ways to develop the requisite knowledge,skills, attitudes and competencies to add user defined value following non-degree or alternative education pathways?

Bioimedical entrepreneurship education and training programs are expanding around the world. There are vast differences in their missions, structure, organization, deliverables and outcomes, since most entrepreneurship is local and will depend on the availability and connectedness of local resources.

There are many unanswered questions that need to be answered by research and data that can inform policy and career guidance recommendations. Until then, it seems, the medical education establishment has ceded the business of medicine and entrepreneurship education to business schools which , while valuable to graduates, may not be in the best interests of our sick care system trying to add value at scale. The real question is whether dual degrees add value to patients.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs on Twitter@ArlenMD and Co-editor of Digital Health Entrepreneurship