Medical students who want to study new-age specialisations like hospital management, medico-management, medical administration, pharmaceutical management, and so on are increasingly choosing to pursue an MBA after completing their MBBS. Doctors are increasingly interested in MBA programs because they want to learn managerial skills and competencies that will aid them in their practice or in pursuing interdisciplinary careers such as hospital management.
MBA in Health Administration (MHA) – For medical graduates, the MHA or MBA in Health Administration is a good option. Students will learn about working as a planner in the healthcare, public health, or organization sectors during this course. They are frequently hired for higher-level positions.
Students with an MD/MBA degree can work in pharmaceutical marketing, hospital administration, wellness centre or medical organization management. They may even be asked to assist in the development of healthcare policy or the implementation of a government-sponsored healthcare program.
Any physician who wants to manage their practice and get the most out of their staff will benefit from an MBA in general management. It’s also a useful tool for physicians who want to advance in their careers and work in areas where the main issues are business-related rather than medical-related.
Why MBA after MBBS?
After completing a 5- to 6-year MBBS, most medical students find it difficult to pursue an MBA. Following an MBBS with an MBA opens doors to more promising career options that are unconventional and unique, as well as generally better-paying and satisfying. Allowing doctors with an MBBS degree to work alongside MBAs allows them to gain a better understanding of and access to hospitals, healthcare delivery, and treatment processes, allowing them to cut out inefficiencies and deliver innovation.
- Pursue in-demand specializations such as Hospital Management, Medical Management, or Healthcare Management.
- Investigate your entrepreneurial abilities.
- Boosting your career
- To put your analytical and critical thinking skills into practice
- To avoid taking medical entrance exams to practice medicine and gain admission to PG programs.
MBA after MBBS will assist you in obtaining top executive positions in the medical field, making it a viable career option. MBBS graduates who want to advance their careers in management and healthcare pursue an MBA after graduation. Entrepreneurial and managerial abilities can be developed.
Other doctors want to stay in the healthcare field but in a different capacity, such as consulting for pharmaceutical companies. They’ll need to learn management and business skills to supplement their medical knowledge.
Benefits of Doing an MBA after MBBS
There are numerous benefits to pursuing an MBA after completing an MBBS degree, some of which are listed below:
- The number of healthcare centres and institutions has grown, which has increased job opportunities in hospital management and administration.
- MBA degree would aid candidates in exploring career options in healthcare management.
- It also results in a significant pay increase. According to payscale, an MBBS doctor in India earns INR 300,000 per year, while an MBA graduate in Hospital Management earns INR 660,000 per year.
- Students who want to develop entrepreneurial skills can study at IIM after completing their MBBS or get an MBA from any top B-School in India.
- It distinguishes the student from the crowd of MBBS graduates and allows the student to have a greater impact in the healthcare industry.
- Following an MBBS, an MBA allows you to run a hospital rather than just work in one. The individual will have the opportunity to become the boss and provide excellent patient care while also overseeing the hospital’s administration and operations.
- It also allows candidates to avoid the competition for PG medical courses (around 160,000 candidates apply for NEET PG each year) and pursue a more niche career option with a comparable pay package.
Should I pursue an MBA after MBBS?
Yes, after completing an MBBS, anyone can pursue an MBA. MBA after MBBS is a good option if you want to give your medical career a new twist and improve your career prospects. After completing an MBBS, an MBA allows you to advance in the fields of hospital administration and management.
Students with MD/MBA degrees can pursue careers in pharmaceutical marketing, hospital administration, wellness centre or medical organization management, among other fields. They might even be asked to help implement a government healthcare program or participate in healthcare policy-making.
Over the last decade, there has been a significant increase in the number of physicians pursuing Master of Business Administration (MBA) degrees, but there is still debate about the value of these programs and the career outcomes of their graduates.
MBA Specialization after MBBS
Looking for a speciality after completing MBBS? The following are the most popular and sought-after MBA specializations after MBBS:
1. MBA Healthcare Management
Candidates who complete the MBA Healthcare Management program are prepared to take on a variety of leadership, management, and administrative roles in the healthcare industry. The course consists of a mix of theories, assignments, and case studies that differ according to college norms, allowing students to obtain an MBA after completing their MBBS.
2. MBA Hospital Management
The MBA in Hospital Management program is designed to provide students with the advanced business management skills necessary to organize and regulate complex healthcare delivery systems.
3. MBA Healthcare and Hospital Management
With a curriculum designed with the rapidly expanding healthcare sector in mind, the MBA in Healthcare and Hospital Management focus on the management of healthcare and hospital facilities.
4. MBA Hospital Administration
The MBA in Hospital Administration is designed to provide students with a solid foundation in business management as well as healthcare administration. Students learn how to deal with the social, ethical, political, economic, and legal challenges that come with running a hospital.
5. MBA Healthcare Administration
The MBA Healthcare Administration program will provide you with advanced knowledge of the healthcare industry as well as managerial abilities. As a result, when some people pursue MBA after MBBS, they learn how to apply management concepts to the healthcare sector.
6. PG Diploma in Hospital and Health Management
The PGD in Hospital and Health Management course is designed to provide candidates with the theoretical knowledge and practical skills needed to apply a scientific approach to people, materials, finance, communication, work organization and resource management.
Career Options of MBA after MBBS
Depending on the MBA specialization pursued, students who complete an MBBS+MBA get well-paid jobs. Following are some of the MBA jobs that are available after completing an MBA after MBBs:
1. Healthcare Finance Managers
They are in charge of overseeing the day-to-day financial activities of healthcare institutions, including budgeting, financial planning, financial analysis, and financial reporting.
2. Medical and Health Service Management
Responsible for the timely and efficient delivery of all healthcare services provided by the healthcare service provider by planning, directing, and coordinating all healthcare services provided by the healthcare service provider.
3. Hospital Administrators
Responsible for ensuring that their healthcare institution’s services run smoothly and efficiently and that patients receive timely treatment.
4. Medical Director
They handle any complaints that a patient may have and are in charge of assigning staff to each patient. Medical directors are frequently in charge of medical ethics and ensure that the organization they work in is transparent.
5. Blood Bank Administrator
Responsible for inventory evaluation and coordination of all blood bank operational functions.
6. HR Recruiter
HR Medical facility recruiters are responsible for maintaining a healthy work environment, as well as ensuring that employees follow the facility’s rules and regulations and that medical staff performs their duties ethically and responsibly.
Scope of MBA after MBBS
After completing an MBA program, students have a lot of options. Doctors can broaden their horizons after learning managerial skills and business knowledge. Following MBBs, MBAs provide the following scope:
- Hospital Administrator
- Hospital Manager
- Health Information Manager
- Pharmaceutical Project Manager
- Healthcare Consultant
- Medical Facility CFO
- Policy Analyst or Researcher
- Medical Director
- Fellow in Clinical Research
- Consultant for Healthcare Licenses
Professionals in the field of ‘Medico-Management’ can also work on the development and management of healthcare products.
The following are the eligibility criteria that all candidates must meet to be considered for an MBA after MBBS:
- Candidates for an MBA program must have completed their undergraduate studies.
- An MBBS degree is considered valid for MBA admissions when pursuing MBA after MBBS.
- The University Grants Commission (UGC) and the Medical Council of India must both recognize the college or university that awarded the MBBS degree (MCI).
- In India, most MBA colleges require applicants to have received at least 45 per cent – 50 per cent aggregate marks in their undergraduate degree, which is similar to the requirement for MBA after MBBS.
- Colleges expect candidates to have received passing grades in all of their graduation subjects.
- Some MBA programs may require candidates to have a certain number of years of work experience before enrolling in an MBA program after completing their MBBS.
- This is especially true if you are interested in pursuing a Part-Time MBA or an Executive MBA.
- Eligible candidates may also be required to pass an MBA entrance exam.
- Candidates may be required to take a test such as the CAT, CMAT, GMAT, XAT, or others, depending on their college’s requirements.
There are various MBA entrance exams like MAT, XAT, CAT, GMAT, etc. which you need to qualify as per the requirements specified by your chosen university. Generally, Indian universities accept scores GMAT, CAT, XAT, MAT, etc. while many other colleges and academic institutions in India might have their entrance exams for MBA programs.
1. MAT – Management Aptitude Test
The Management Aptitude Test, also known as the MAT, is a four-times-per-year national MBA entrance exam. The entrance exam is organized by the All India Management Association. The MAT exam is typically given in February, May, September, and December. The exam is administered using both a ‘Computer Based Test’ and a ‘Paper Based Test.’ In addition, candidates may take the exam in both modes in the same session. Each session, about 20,000 MBA candidates take the MAT exam. Nearly 300 business schools accept the MAT exam score as part of the MBA admissions process.
2. XAT – Xavier Aptitude Test
XAT is the second most popular and considered to be the toughest MBA entrance exam in India. It is often referred to as the “gateway” to Xavier’s league. The Xavier Labour Relation Institute (XLRI), Jamshedpur, organizes the Xavier Aptitude Test on behalf of the Xavier Association of Management Institutes (XAMI). Aside from these, nearly 150 B-schools use the XAT exam score to select students for MBA and PGDM programs. The test is used to screen and shortlist students for admission to post-graduate management degree programs at XLRI, XIM, XISS, LIBA, and other
3. CAT – Common Admission Test
India’s most popular and competitive MBA entrance exam is the Common Admission Test (CAT). The test is held once a year to screen students for admission to the flagship business management programs of 20 Indian Institutes of Management (IIMs). Furthermore, the CAT exam score is accepted by over 100 B-schools to expedite admission to MBA and PGDM programs. Nearly 2.3 lakh MBA aspirants sit for the CAT exam in December. A computer is used to administer the CAT exam. In most cases, the CAT exam application process begins in August, with the exam taking place in November.
4. GMAT – Graduate Management Aptitude Test
The Graduate Management Aptitude Test, or GMAT, is an MBA entrance exam designed for candidates who want to pursue their MBA in a foreign country. The Graduate Management Admission Council, or GMAC, is a non-profit organization that administers the GMAT. Approximately 2100 universities around the world now accept GMAT scores for admission to management programs. GMAT scores are used to determine admission to MBA and MIM (Masters in Management) programs. The GMAT exam score has also begun to gain wider acceptance in some of India’s top business schools in the last decade. The GMAT Exam is held at nearly 34 test centres across India throughout the year. In a given academic year, an MBA candidate can take the GMAT five times.
Why Online MBA is better after MBBS
1. Globally Recognized Degree
An MBA is one of the few degrees that is recognized all over the world. You’ll have more job opportunities and access to a large alumni network as a result of it.
The specializations available in an MBA executive online degree can help you diversify your skills and prepare you for a variety of managerial positions.
2. New Skills and Expertise
The degree enhances your resume by demonstrating to employers that you possess expert-level management abilities. You can learn important time management skills by enrolling in DSU’s nationally acclaimed Executive MBA program.
3. Understand the Nuances of Business
An MBA degree can help you understand and grasp concepts related to different aspects of the business world. Students can learn how to solve specific business problems and gain a new perspective on their workplace.
4. Become Eligible for Higher Salaries
Several factors influence the pay scale for a specific job role. The educational background, skill set, and level of experience of the candidate all play a role in determining the salary. Combining an EMBA with an engineering degree can boost your salary by tens of thousands of dollars. As a result of the degree, your skills will be enhanced.
5. Move Up the Corporate Ladder
You can advance in your current company and qualify for managerial positions by earning an EMBA degree.
Study MBA Abroad
Pursuing an MBA while studying abroad can open up a world of possibilities. Aspirants, on the other hand, are always left with one question: which country is best for MBA? MBA is one of the most in-demand courses today, but keep in mind that the reason you’re studying MBA abroad, as well as the type of university and MBA program you attend, all have connotations that can help you open doors based on the university’s reputation. As a result, before applying, it is critical to carefully select a study location. Because there are so many factors to consider, determining the best country for MBA is difficult.
1. MBA after MBBS in the UK
For MBBS students in the United Kingdom, there is a one-year MBA program. An MBA program in the United Kingdom is a good choice for freshmen because it accepts a large number of students with no prior work experience.
The number of international students enrolling in MBA programs in the United Kingdom has been steadily increasing. After the admissions committee has approved these documents, the candidates are summoned to the university for a face-to-face interview.
2. MBA after MBBS in Canada
MBA students who have completed their MBBS programs will find many opportunities in Canada. Working professionals with experience in the healthcare sector can pursue a master’s degree in health administration at one of Canada’s top universities. Health administration is also available as a specialization of MBA in Canada, in addition to other MBA programs.
3. MBA after MBBS in the USA
The United States of America has the best business schools in the world.
1. Is pursuing an MBA after completing an MBBS a viable option?
MBA is a great way to enter the management domain with ease. MBA after MBBS is a good option for all the people willing to become a part of hospital management or administration. Work opportunities are also available at large medical corporations such as GE Healthcare, Abbott, Philips Healthcare, and others.
2. Why do doctors pursue an MBA?
A large number of doctors are now pursuing an MBA to gain managerial and business skills in addition to their medical knowledge. An MBA allows doctors to pursue a wide range of career options while also equipping them with the necessary business skills to launch their own companies.
3. Which is better MBBS or MBA?
MBBS is an undergraduate program and MBA is a postgraduate program, there are no parallels between the two. MBA after MBBS is a great option because it allows you to pursue some of the most lucrative and well-paid jobs in the medical field, such as Medical Administrator and Pharmaceutical Sales Manager.
4. Who makes more money, a doctor or an MBA?
A doctor’s or MBA’s salary is determined by their professional abilities and attitude toward their work. MBAs and doctors, on the whole, make good money. MBA personnel, on the other hand, can make a lot of money if they are given the right opportunity.
5. Is it possible to pursue an MBA after completing an MBBS?
Yes, after completing an MBBS, anyone can pursue an MBA. MBA after MBBS is a good option if you want to give your medical career a new twist and improve your career prospects. After completing an MBBS, an MBA allows you to advance in the fields of hospital administration and management. Furthermore, top medical companies such as Philips Healthcare, GE Healthcare, Medtronic, and others prefer MBAs after MBBS graduates. With a basic understanding of medicine, an MBA after MBBS adds another layer to your skill set, allowing you to pursue new opportunities and reach new heights in your career.