The Utility of a Master of Business Administration Degree in Plastic Surgery: Determining Motivations and Outcomes of a Formal Business Education Among Plastic Surgeons

Abstract

Background:With the increasing complexity of health care, the knowledge of business in medicine is growing more valuable. Plastic surgeons in all practice settings are constantly forced to navigate endeavors that could be better faced with the leadership, management, and administrative skills honed through a formal business education. The purpose of this study was to gather data and draw conclusions related to the motivations and outcomes of plastic surgeons with a Master of Business Administration degree (MBA).Methods:An online survey was distributed to plastic surgeons in the United States who have earned an MBA. The survey was divided into 4 main sections: demographics, MBA program description, objective assessment, and subjective assessment.Results:The majority of plastic surgeons with an MBA are in practice at an academic medical center. The 2 most popular tracks of completing the degree are during medical school and after 5 years of practice. A large proportion of plastic surgeons with an MBA experienced changes in their existing career position, namely in patient care and business roles outside of clinical practice. The most important skills surgeons subjectively felt they had improved as a result of their business education were in the areas of leadership, management, and administration.Conclusions:Overall, all the plastic surgeons felt that their MBA experience met their expectations and would recommend the degree to fellow physicians. Prime motivations included adding a new dynamic to their existing career, satisfying entrepreneurial drive, and gaining credibility in business, with monetary gains being low on the list.

Master's Degrees Among Academic Plastic Surgeons and Plastic Surgery Residents

“…Although multiple facets of advanced education have been previously explored, no study has objectively assessed the impact of a master's degree on the plastic surgeon's academic career. 2,10 Intuitively, there is broad consensus that advanced education correlates with career progression; however, because of the variety of degrees, career levels, and surgical subspecialties, this observation cannot be generalized. 1 Contrary to our hypothesis, we found that only MPH degrees impacted APSs in terms of publications and citations, while an MS degree was associated with receipt of NIH funding.…”

“…This is particularly intriguing and in line with the notion that MBA assists physicians in gaining credibility in management and entrepreneurship. 10 Furthermore, it was recently reported that in comparison with other advanced degrees, MBA holders are more likely to be chief and to advance academically. 2 Perhaps this difference is due to the fact that we were able to compare MBA holders to the rest of the APSs without MBA and not to degree holders only.…”

Training Surgery Residents to be Leaders: Construction of a Resident Leadership Curriculum

“…degree are generally satisfied with the attained education both in medicine broadly and in surgery specifically. 10,11 But for the medical student and resident who foregoes formal business education in the form of an M. If we examine the role of the physician as a leader, we can appreciate that most academic surgeons are responsible for leading in many arenas, colloquially referred to as the "triple threat" of patient care, research, and education. 12,13 Yet, we are woefully unprepared to deal with stressors and conflict and with high levels of burnout and increased emotional exhaustion in even the highest academic positions in medicine and surgery.…”

“…degree are generally satisfied with the attained education both in medicine broadly and in surgery specifically. 10,11 But for the medical student and resident who foregoes formal business education in the form of an M.D./M.B.A., what leadership training exists for them? What formal training do they have to understand the roles they will play with graduated responsibility throughout training years?…”

Working Smarter, Not Harder: Using Data-Driven Strategies to Generate Front-End Cost Savings through Price Negotiation and Supply Chain Optimization

“…4,5 A number of initiatives have been put forward with the goal of simultaneous cost saving and quality maintenance, including reimbursement models that take quality of care and patient satisfaction into account, and programs encouraging physicians to pursue additional business education. 6–11 A perhaps lesser known option to achieve significant cost savings is to optimize the supply chain. Because supply chain optimization through changes in contract use and negotiation leads to front-end savings, these interventions have a direct, one-to-one impact on hospitals’ bottom lines.…”