UM School of Business Expands Programs in Health Care Management
August 04, 2008
The University of Miami School of Business will offer new undergraduate and graduate business programs in health care management beginning in fall 2008. A new undergraduate minor, Health Sector Management and Policy, is designed to provide students interested in health care careers with a basic understanding of the management, economics, and financial structure of the health care industry.
The School will also launch a joint MD/MBA degree program in partnership with the University’s Miller School of Medicine this fall. The business curriculum will prepare future physicians for the business complexities related to running a private medical practice or heading a group practice, as well as prepare medical students for careers in health sector management, leadership and policy.
“Today, more than ever, the health care industry demands professionals who are attuned to business concepts ranging from marketing and finance to general administration,” said Barbara Kahn, dean of the University of Miami School of Business Administration. “These new health care programs, along with the School’s existing and future health care initiatives, will position the UM School of Business as a leader in meeting the business education needs of the health care industry.”
The School has offered an Executive MBA (EMBA) program in Health Sector Management and Policy for more than 30 years. The EMBA program is designed for both physicians and those working in the health care field. Over the past decade, physicians have consistently made up at least one third of the class.
The new MD/MBA program will add an additional year to the four-year medical school curriculum. The MBA coursework will range from financial reporting and corporate strategy to the legal aspects of health administration.
“As the health care industry evolves, physicians are not only joining large, multimillion dollar practices, they’re running these organizations,” said Steven Ullmann, director of Health Sector Management and Policy Programs at the University of Miami School of Business. “Today’s doctors must understand how to negotiate contracts with pharmaceutical companies and medical suppliers, navigate through the Medicare and Medicaid systems, negotiate with managed care companies and hospitals, understand pricing and financing, and develop effective marketing programs for their services.”
The School’s new undergraduate minor, which will help students better understand the legal, ethical and governmental issues related to the health care industry, is expected to attract nursing, pre-med, and pre-law students as well as those interested in pursuing careers in health care administration. The minor will require four classes including Introduction to Health Sector Administration, Health Economics, Health Care Law and Ethics, and U.S. Health Care Crisis: Politics and Policies. The U.S. Health Care Policy course is taught by University President and former U.S. Secretary of Health and Human Services Donna E. Shalala.