MD Says, M.B.A. Gives Dallas Physicians An Edge In Health Care
Dr. Scott Wise earned his medical degree from UT Southwestern Medical Center at Dallas with a specialty in family medicine. He did his residency training in the Army and was assigned to the 82nd Airborne Division at Fort Bragg, NC. He was later stationed in Honduras, and after five years, Wise went into private practice.
Wise had an interest in national health care policy, and aspired to run a large health care company; he then decided to move into the business side of medicine. Following that decision, he went on to earn a master's in business administration with a focus in health care management from the University of Massachusetts at Amherst.
On the clinical side, he makes sure that the quality of care is met; and, on the administrative side, he makes sure that the business is profitable.
"Earning my master's degree gave me the necessary business tools to be able to effectively manage the business side of health care," said Wise. "Without the master's degree, managing the business side would have been hard. The adage, that doctors are poor businesspeople, is partially true. Most practicing physicians have a business manager to manage the business side of things. The degree helped me to do both."
The biggest challenge, he faced when pursuing his master's degree, was time. "I was doing my job as chief medical officer, traveling two weeks out of every month, raising children and juggling school work," said Wise. "Because of time constraints, I did my master's degree completely online. It was worth it. I got out of it what I wanted. I understood the private and government sectors of the health care business."
Wise's advice for those considering returning to school: "If you have aspirations other than to see patients, then you have to learn the other side of the business. You have to make yourself more marketable for companies looking for physician executive leaders."
"The most effective health care organizations are run by leaders that have both a business background and passion for taking care of patients. No matter what the ambitions, making oneself more highly trained and more marketable is always wise," said Wise.
Robin D. Everson is a native Chicagoan who resides in Dallas, Texas. Her appreciation for art, food, wine, people and places has helped her become a well-respected journalist. A life-long lover of education, Robin seeks to learn and enlighten others about culture. You can find her work at Examiner.com