The demand of doctors with business wisdom is on high and this has led leading B-schools and other educational institutes to introduce courses in healthcare management. Nowadays, more doctors are opting for management degrees after completing MBBS.

ISB has associated with Wharton School of Management to commence a healthcare research center. Majority of participants in this program are medicos aspiring for managerial profiles. The course includes electives in healthcare and a specialization in management field such as marketing, strategy, product and finance management.

 Among IIMs, IIM-Ahmadabad’s doctoral program offers electives in health management and public health policy. There has been a gradual shift in the number of students opting for healthcare management courses at PhD level in past few years. Around 20 students out of 350 from each batch opt for healthcare elective.

Other premier educational institutes offering specialized courses in healthcare management include Symbiosis Institute of Health Sciences, Pune; Tata Institute of Social Sciences, Mumbai; and Indian Institute of Health Management and Research. Moreover, from this year onwards ISB has decided to give preference to candidates from sectors such as healthcare and pharmaceuticals for its 50% of its total Scholarships to increase the diversity in class.

There has been a tremendous increase in the demand of doctors with expertise in management field with the growth of biotech, healthcare, medical equipment and pharmaceutical industries.  Medicos who aspire for alternative career avenues in other sectors get insight to brand safety, product management, marketing and finance, labor laws, people skills and strategies through these courses.

Firms in biotech, pharmaceuticals and medical equipment prefer to hire medical practitioners with management skills. Another reason for the surge in demand of medicos with business expertise is the rapid growth of healthcare industry and establishment of hospital chains which are complex to operate. A doctor equipped with managerial skills has a wider viewpoint and is aware of the best methods to be used in the industry. The healthcare industry is expected to rise from the current $65 billion to $100 billion by 2015.

As the sector is growing at a faster pace, medicos who fail to pursue their masters due to seat limitation or high capitation fees are taking up managerial roles.

Source: Economic Times

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