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How to Combine the Study of Business and Medicine

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Healthcare is a big business in the US. Whether or not it should be is oft debated, but that does not change the reality on the ground. Even nonprofit hospitals and health centers need to worry about budgets and management, and the business side of health takes up a lot of time and effort.

So how do you get into this field? WHat do you need to major in, and what careers are available to you if you do so? In this article we’re going to explore the field of healthcare management, and what you need to study to enter it. We’ll also take a look at some colleges and majors which offer this as an area of study. Let’s get started!

MD/MBA Programs

The traditional way to enter these areas, especially at the highest levels, are combined MD/MBA programs. These give you the full advantages of both programs, teaching you the workings of medicine and management alike. You need both skills to properly manage a healthcare environment, so these programs are the best way to enter the field.

Unlike many other fields, healthcare management has significant concerns they don’t need to worry about. Physicians have important ethical considerations, and are bound by a duty of care to their patients. Yes hospitals often are a business, but not understanding these obligations can lead to difficulties when operating them as they are meant to. 

These programs are quite difficult, both to gain admission to and to complete; medical school is known to be quite hard on its own, and adding an entirely new curriculum on top of that does not make it any easier. That said, the skills you gain from these programs cannot be easily replicated by other fields of study. 

If you are certain that healthcare administration is your eventual career goal, then you should begin preparing during undergrad, with an aim for one of these programs. Of course, you can just take the standard premed approach, but there are other ways to prepare as well. 

Undergraduate Majors

Some colleges offer specific majors in healthcare management. What these entail exactly depends on the school (and we’ll explore these in more detail below), but in general you take courses both in business and medicine, often with a focus on ethics. 

Most of these programs focus more on the business and management side, with healthcare being the flavor of the business you’re involved with. Others are much more oriented towards healthcare itself, with a mix of pre med coursework and business. You can pursue a pre med track alongside these majors; some are even designed for you to do so. 

These majors prepare you to enter the job market directly, though at a lower level than the MD/MBA programs. Hospitals require a lot of administrative work, and healthcare consulting is a field all on its own. These majors prepare you for this work, or to take advanced degrees as well. 

If your eventual goal is an MD/MBA program, these majors are a good starting point. First, they give you a solid academic background for both parts of the program, preparing you for business and medical studies alike. Second, they allow you to sample the field, and see if it is something that you want to pursue further. MD/MBA programs are a major commitment, so it is good to be certain before setting down that road. 

Undergraduate Health Management Programs

We’ll now go through some examples of health management programs, and detail what they offer. This isn’t an exhaustive list, but is meant to show the scope of what’s available. 

Leadership in Medicine Program

This is one program offered by three schools in partnership. Union College, Albany Medical College, and Clarkson University. High school seniors may apply to this program; those who are admitted earn three degrees in eight years: 

  • A BS from Union College
  • An MD from Albany Medical College
  • An M.S. or M.B.A. in Healthcare Management from Clarkson University

This is a BS-MD program, so once you are admitted no further applications are required, so long as you meet the academic standards to continue in the program. Applications are handled by Union College. Like all BS-MD programs, this is a highly competitive program, admitting only 15 students each year. That said, this is one of the best programs for high school students who are certain they want to pursue healthcare management. 

For more on how to apply to BS-MD programs, see our guide here. This program is unique, however, in that it specifically wants to see that you have pursued healthcare management, and have specific goals in that field. 

Georgetown

Georgetown University offers a BS in Health Care Management & Policy through their school of health. This program is designed to be complementary to the pre med track, for students who wish to pursue it. Students are offered both dedicated coursework in policy and administration, and hands-on internship opportunities through Georgetown’s hospital. 

The major offers two tracks; one has a focus on policy, the other on administration. The first is intended for students with an interest in public health and policy, while the latter for students interested in the administration of healthcare institutions. 

University of Pennsylvania

UPenn offers a BS in Healthcare Management and Policy through the Wharton School of Business. It teaches students about health care markets, and the factors that influence policy at both the governmental and organizational levels. The course is designed for students interested in the management side of health, or for consulting or business positions which intersect with healthcare. It may be taken in conjunction with pre med. 

As the major is offered through Wharton, acceptance to Wharton is necessary. Changing between schools at Penn is quite difficult, so you should apply to Wharton directly if you wish to pursue this major. 

UT Dallas

UT Dallas offers a BS in Healthcare Management through their School of Management. This program focuses on the business and finance aspects of the healthcare industry, and prepares students for a career in those fields. The program invests heavily in internships, believing that these are the best way to prepare students for careers in this field. 

The curriculum focuses almost entirely on the business side; though students have the flexibility within the required courses to combine this course of study with the pre med track, and many choose to do so. 

UT San Antonio

UT San Antonio offers a BS in Healthcare Management through their Multidisciplinary studies program. Offered between different schools and departments at the school, this program has a lot of flexibility in what you decide to focus on. You can adjust your degree to focus on business, public health, health policy, or some admixture thereof. This program also has more of a focus on the health aspects of the curriculum compared to many of the programs offered solely by a business school, making it easier to combine with the pre med track. 

Indiana University Bloomington

IUB offers a BS in Healthcare Management and Policy through the School of Public and Environmental Affairs. This program focuses on management, policy, and administration at healthcare facilities, and prepares students to directly begin careers in those roles. While this can be paired with pre med, this program has less of a focus on medicine than some of the other programs. 

University of Connecticut

UConn offers a BS in Healthcare Management through their School of Business. Due to the prevalence of the insurance industry in the Hartford area, students in this program have many internship opportunities in health insurance. This program has a focus on policy and administration; if you are interested in working in the field of health insurance specifically, this is a great way in. 

The curriculum focuses much more on the business and administration side, though it can be paired with a pre med track. 

Final Thoughts

Healthcare is a complicated field, with many competing needs to be met in both policy and practice. The juncture of business and medicine where these meet has few easy answers. We hope this article has given you a solid overview of how you can pursue this as a field of study and career, and given you some idea of what your options are when doing so. 

Of course, applying to these programs is not guaranteed; some are more competitive than others, but all require careful work to gain acceptance. If you are looking for advice on finding the program best suited for you, or for help with any part of the application process, schedule a free consultation with us today. We have a long experience assisting students on their educational journey, and are always happy to hear from you.

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