From Microbiology to Microeconomics
Kevin McGarvey is pursuing two schools of thought in his journey
to become a physician: the IU School of Medicine and the IU Kelley
School of Business Indianapolis.The fourth-year medical student
is beginning his second year in a new program that combines a medical
degree with a master’s in business administration.
Five years of full-time study are required to obtain the MD/MBA
instead of the normal six years it would take if the degrees were
pursued separately.
“I’ve always wanted to have a hand in business and
find this a fascinating approach to combine with my goal of becoming
a physician,” says McGarvey. “As I gradually gain more
exposure to practicing medicine, I realize more and more how much
business impacts medicine.”
Typically, IUSM students in the MD/MBA program spend three years
in medical studies before they begin to integrate the business courses.
Four six-month periods of study are required, alternating between
medical and business coursework. On the business side, McGarvey
has completed classes in microeconomics, macroeconomics, finance,
business law, managerial accounting, E-business, and advanced strategic
analysis. Those and other business courses he’ll take will
give him an edge in better understanding the real-world situations
affecting medicine.
“As the health industry continues to grow – it’s
now fourteen percent of our Gross Domestic Product – I believe
there will be a significant demand for leaders who are highly trained
in the economic and medical aspects of providing quality care,”
notes McGarvey. “This situation combined with regulation of
costs often conflicts with physicians’ opinions, so it makes
sense to have doctors who understand both sides of the coin on how
health care dollars are spent.”
Both the MD and MBA degrees are conferred at the same time once
all requirements for both fields have been met. McGarvey, who plans
a career in emergency medicine, anticipates he will receive both
degrees in May 2004.
IUSM Dean D. Craig Brater, MD, and Kelley Associate Dean John Hassell,
professor of accounting, acknowledge the MD/MBA program is responding
to a need that grooms top-notch clinicians who meet the needs of
their patients and have a solid grasp of the market realities driving
the health care industry.
McGarvey understands he’s walking the point in his pursuit
of both degrees. “In a sense you could say I’m a guinea
pig, but overall the transition has been smooth for me. This program
is a tremendous opportunity to help physicians shape the future
of how health care is delivered.”
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