Physicians for the future
As academic health centers grow into larger and more complex systems, physician leaders must be able to confront and execute a wider array of business decisions than ever before. The current healthcare environment demands that faculty physicians be nimble and efficient in response to financial challenges, while also providing patient-centered care and staff leadership.
In response to this growing demand for greater business acumen, IU School of Medicine Faculty Affairs, Professional Development, and Diversity unit has partnered with IU Kelley School of Business to provide a series of leadership development programs. These programs optimize faculty’s extensive medical expertise with insight into business and leadership, as they relate to healthcare. Programs include a variety of educational opportunities, such as introductory business skills for junior faculty, a six-credit graduate course for mid-career faculty and even potential sponsorship to complete the two-year Kelley Physician MBA Program, a degree specifically designed for physician leaders.
“More is expected of today’s physicians than ever before, and much of the business acumen required to lead isn’t traditionally taught in medical school,” said Dr. Jay Hess, Dean of IU School of Medicine. “Through this new partnership with the Kelley Business School, IU School of Medicine is bridging that learning gap by equipping faculty with a greater understanding of the business aspects of medicine. The outcomes will improve patient care and system efficiency while also creating a pipeline of future physician leaders.”
These programs are open to any IU School of Medicine faculty member interested in leadership and gaining greater business skills. They include:
- Introductory courses, one for residents and fellows and one for junior faculty (to be announced soon). These one-day courses will provide a brief introduction into the business of medicine.
- Business of Medicine Leadership Program (BMLP)– This four-month program is designed to provide our clinical faculty and emerging leaders with a professional development opportunity that increases business acumen, leadership skills and expertise.
- Physician Leadership Course in Business Acumen– This six-month (six credit hours) program is targeted to physicians in leadership positions (e.g. residency and fellowship program directors, vice chairs) and promising future leaders. The program content will be highly applied with cases drawn from our enterprise environment and is strongly supported by Dean Hess.
- Evans Fellowships provide full-ride tuition for the Physician MBA Program, plus various leadership development opportunities.
This curriculum is designed to grow and expand along with learning and input from experienced physicians in the classroom. Courses are taught on campus and online through the Kelley School of Business, the only top-ranked school to create an MBA specifically designed for physicians.
“Kelley faculty have spent years crafting and delivering courses that are relevant and applicable to physicians. They understand how to provide thought leadership at the intersection of business and medicine,” said Christopher O.L.H. Porter, Kelley Business of Medicine MBA Program chairperson and One America Foundation Endowed Chair. “These programs give IUSM faculty the advanced business knowledge, management tools and leadership skills to be a change agent, while driving innovation and transforming the future of healthcare.”
Curriculum in these programs is as rigorous as any Kelley School of Business course work, but with a focus on solving healthcare challenges. Traditional business topics, such as finance, accounting, economics and operations, are viewed through the lens of medicine so that each lesson is directly applicable to faculty. Even if they haven’t been a student for years, or have never taken a business course, physicians will find comfort in studying the business of medicine alongside colleagues who speak the same language and face the same challenges.
Networking and leadership opportunities
Alumni of Kelley’s physician-only programs say that peer learning and expanding their network of physician colleagues are among the greatest takeaways from these courses. In order to earn a leadership position or create wider impact in a faculty role, physicians must understand how to work cohesively with others, manage their strengths and weaknesses and properly align themselves for the positions they seek. These programs provide unique insight into how physicians can leverage skills in management, leadership, negotiations and process improvement to earn a seat at the table when healthcare business decisions are made.
Faculty who complete these programs gain an understanding of the other side of healthcare, the one beyond the exam room, laboratory or grand rounds. Faculty who have enrolled in these programs acquire new knowledge and skills in a positive learning environment.
CME & program funding
Faculty may fund enrollment in these programs through tuition remission, CME or professional development funds, or by school and department funding. Continuing Medical Education (CME) credits are awarded for every hour you spend in class session. CME credits are administered through the Division of Continuing Medicine Education.