The ‘How,’ ‘When,’ and ‘Why’ of a Mid-­Career MBA

As the healthcare sector has evolved during the past decade, the need for physician leaders to pursue business-related professional development has increased. Advanced coursework demonstrates a professional’s commitment to quality, excellence, and continual growth. One path for physician leaders is pursuit of an MBA. How important is an MBA to career advancement? Is there a “right time” during a physician’s career to pursue the degree? Richard H. Savel, MD, MBA, CPE, FCCM, shares his perspectives.

What was your thought process on undertaking your MBA coursework?

When I was made a division chief at our organization back in 2016, I decided to take a serious approach to enhancing my leadership and management skills. I began by taking a two-week course on leadership at the Harvard School of Public Health.

Two colleagues at my medical center had worked with AAPL to obtain their MBA, and they both spoke very highly regarding the value of the association. One of them also had done the CPE program and found it to be extremely valuable as well.

In addition, a couple of my colleagues/mentors told me that if I was interested in “next-level” leadership opportunities, I really needed to obtain some kind of master’s degree in management, such as an MBA, MHA, or MMM.

Is it more advantageous to get an MBA first or a CPE?

My initial plan was to complete one of the MBA programs through AAPL. Although I had completed the relevant prerequisites, when I started the first MBA class, I became overwhelmed and deferred the MBA program for a year.

Working with members of AAPL, I realized that I was close to completing the prerequisites for the CPE, so I completed the AAPL CPE coursework and then took part in the extremely interesting and worthwhile (three and a half)-day capstone (2018, pre-COVID, in person).

I vividly remember that about 25% of the CPE participants already had their MBA. When I asked them why they were pursuing a CPE, they replied that the MBA is valuable, but the CPE provides some important “real-world” leadership instruction, guidance, and education that is different from most MBA programs.

Where did you do earn your business degree and how did that align with your clinical position?

I recently completed my coursework for the MBA at UMass- Amherst, which I think is a fantastic program. With such courses as Organizational Behavior, Business Statistics, Operations Management, Accounting, Finance, and Strategy, I was constantly talking enthusiastically to my colleagues about how I was able to use the knowledge and skills I was obtaining with my UMass-Amherst MBA courses in real-time in my job as a division chief at my medical center. I was much more comfortable gathering data and making relevant graphs for senior administrators.

In addition, when administrators said, “Well, your request sounds reasonable, but you will really need to submit a business case,” I knew exactly what to do. These were not skills I had obtained in medical school, but I was no longer intimidated when asked to create a financial model or a budget for a division or project.

What advice would you give a physician leader who is planning on additional business training?

AAPL is the way to go. I found the CPE course content and the (three and a half)-day capstone to be of tremendous value, and it helped me decide that I was truly committed and wanted to get a formal MBA degree.

The staff at AAPL can help you decide what fits best with your goals. In terms of the MBA program, there is no question that the courses are challenging, but the information provided was both valuable and relevant to a physician leader.

Any pitfalls to avoid as a physician leader who considers an MBA? Are there any things you would have done differently?

I am in my mid-50s. I wish I had completed the CPE and UMass MBA 20 years ago or considered doing it as part of my fellowship, residency, or medical school. I am extremely appreciative of both my new credentials as well as the highly valuable skills and knowledge that I now bring to my organization in addition to my clinical skills as an intensivist.

It is challenging when we are in the middle of our busy lives to think that we can find the time to “squeeze in” another degree, especially with other commitments such as family. I made a conscious decision to “reinvent myself” and transition from being an academic intensivist to a physician leader.

I have no regrets and am grateful for the support I got from my family, from AAPL, and from UMass, but in my experience, learning as an adult with a full-time job is more challenging than learning when younger as a full-time student. My advice would be this: If you are considering this pathway, the earlier the better.

To suggest an AAPL member for this ongoing series, email us at journal@physicianleaders.org.