2024 Scholars' Research Symposium Abstract: Development of an MD-MBA Program at University of South Dakota.

Abstract

Introduction: Over the last 20 years nationwide, the number of MD-MBA programs have seen an increase from 6 to 65 with an estimated annual enrollment of 500 students. Many of the healthcare challenges providers are witnessing are business challenges, varying from designing quality improvement initiatives to managing rising costs. Studies have shown those who obtained an MD-MBA degree were better prepared to face these challenges than their traditional counterparts. The aim of this study is to demonstrate a regional need and market demand for a joint degree program between the Sanford School of Medicine and the Beacom School of Business at the University of South Dakota.

Methods: To generate a needs assessment for an MD-MBA degree, an IRB approved online survey was constructed and sent by email to physicians across the state of South Dakota. Recipients included members of the South Dakota State Medical Association, Sanford School of Medicine Alumni, and currently enrolled Sanford School of Medicine students. All submissions were kept confidential, and data was collected and stored in an Excel document.

Results: The survey generated responses from 108 participants, 58 of which were current medical students and 54 were physician alumni or practicing physicians. Of the total respondents, 58% indicated they would apply or would have applied to an MD-MBA program if available. 84% of respondents agreed with the need for continued education in medicine and business to overcome the multifaceted challenges faced in healthcare. Survey questions requiring additional explanation of answer choices qualitatively demonstrated 92% of respondents strongly support a dual-degree and its benefits to the medical profession.

Conclusions: Following submission of the study results in a comprehensive proposal for an MD-MBA program, the South Dakota Board of Regents approved and implemented the program, effective since Spring 2022. The MD-MBA program will allow for completion of training prior to beginning a medical career. Medical education at the university now provides healthcare industry support through healthcare provider acquisition of skills needed for meaningful and effective administrative capabilities.