you an MD or DO thinking about an MBA or MMM?"
you plunk down $60,000 and two years of your life for an MBA,
get clear about whether an MBA can help your
how to get a high return on any business
education investment, and how to choose a program
(not necessarily an MBA) that best fits your
Francine R. Gaillour, MD, MBA, FACPE
and Career Coach for Physicians
Director, Physician Coaching Institute
Director, Association of Physician Speakers,
Experts and Consultants
years ago I was where you are now: Wondering
whether I should get an MBA.
was working as a Healthcare Technology Marketing
executive for a company that developed electronic
medical records so I was already pretty well-versed
in the management and leadership.
But I kept
coming back to the big question: Should I get
would mean an investment of $50,000 including
tuition and travel -- most of which would come out
of my pocket. And it would also mean time away
from my work and family---no matter which program I
though I was financially prepared, the same set of
questions kept nagging me: Was it "worth"
the nearly $50,000 dollars I would spend between the
tuition, plus the travel?
Would the MBA pay
off in terms of my career?
Would I earn more?
Would it translate
into anything else that was
What would I learn that
I didn't already know from my work in the corporate
I also asked questions those questions of physicians
who had earned their MBA, their MMM, MPH.
wrestled over not only those questions, but these
ones as well:
Would getting a Business
Management Certificate serve the same
an MMM serve the same
What are the pros and cons?
Should I go to
a local MBA program or a national program?
course every MBA program director was quite convinced that
an MD with the MBA was the "hot ticket." But I
also knew that physicians were the "hot ticket"
that business schools want to attract. They were
"selling" so I could buy --- and I couldn't
completely trust them to give me the straight scoop.
indecision was driving me crazy, until I created my own "decision
analysis tool" . . .
I learned and mistakes I observed can benefit you . . .
forward now to October 08, 2009.
It's been almost 10 years since I earned my MBA and
I can honestly say that my investment paid off ---
but it was NOT a "chance thing."
deciding on a business program, I deliberately put myself through
a methodical decision analysis -- and
because of that I avoided the numerous MBA investment "mistakes"
I have since witnessed many of my physician colleagues commit over
the years. Mistakes such as:
Doing an MBA for the wrong reason and making no
change in your professional life as a result,
thus taking time off from practice with nothing to
show for it.
Doing an MBA when another program would have been
a much better "fit", thus wasting 2
years and a big chunk of change.
Doing the MBA, but completely missing out on the
#1 value of the experience that most people don't
know because you are focused elsewhere,
Doing the wrong type of program for your personality type and situation and having a
than optimal learning experience, thus wasting
a good portion of your educational investment
#1 Piece of Advice I Give to my Physician Clients
about getting an MBA . . .
years ago I launched my professional consulting and
coaching business, and have had the pleasure
of working with and coaching well over 500 physicians
and physician leaders in one-on-one setting,
groups and workshops. These are physicians who are "moving"
up, expanding their career, and making professional
change and transition.
Through my work as an
executive and career coach for physicians--and
because I spent so many years in the healthcare corporate
world prior to that--dozens and dozens of physicians have sought
me out for career advice---including
advice about whether to get an
only have I written over 100 articles on the
subject of physician career transition and
professional development, but I have been featured nationally---by AMA
News, Physicians Practice, MD Options,
Physician Executive Journal to name a
few---on the topic of physicians transitioning
into business and leadership---and the value of an
the past seven years I have listened to and
counseled many physicians--including my private
Platinum level Executive Coaching clients--who, like
you, want to be very sure about the wisdom of
spending $50,000 to $90,000 for the typical MBA
program, NOT a trivial amount of money, no matter
what your specialty is!
I counsel them, I ask them 15 specific questions
that I created for the sole purpose of helping them GAIN
CLARITY about advanced business education.
Then I walk them through a personal
Decision Analysis about their MBA
these physicians find the coaching process
enlightening and energizing. They achieve peace
of mind and renewed energy as they move forward with their decision.
The results of this Decision Analysis are: a)
some go on and earn their MBA; b) other
physicians go 180 degrees and decide against it, and
c) still others decide on an alternative route for
advanced professional education.
follow the path that is right for them. And
that is what you will do as well once you have clarity about
your specific journey. . .
I created this Special Toolkit: So you can
decide what path is right for YOU
this point in my business, my coaching practice is
too busy for me to respond personally to the many
requests for advice I get from physicians who want
to pay me for 2-3 hours (at $450 an hour) of one-on-one coaching
focused on the single topic of career development
and whether "to MBA or Not to
consulting time now is spent exclusively with my
private clients who invest in developing their
career through my Platinum Executive Coaching
Program (a minimum 6-month commitment) or
through my Mastermind Groups and Coaching
Club Success Circle (a minimum
I still care very much that YOU make a wise decision
about whether and how to develop additional business
skills and education.
mission is to help as many physicians as possible to
expand their career, reinvent how they
"doctor," and find ways to express their
full repertoire of talents and skills in order to
create professional fulfillment.
Benefits for You . . .
order to coach you through this important financial,
career and family decision, I created
"Physician, Is MD-MBA in Your
Future?" decision analysis
toolkit operates like a self-coaching resource, and
here are the benefits you will get as you go
clarity around why you want to get an
MBA - are your reasons the "right
through the few essential decision points - steer yourself into a program that is the
best fit for you
alternative ways for you to get
advanced business education that is just shy of
a full MBA, and yet has the same "career
empowering" effect---but is vastly less
expensive than an MBA
"pointers" that will enable you to
get the most of whatever business program you
thinking "beyond the MBA" and
about your career strategy as a whole.
is what's included:
Seminar: "15 Essential Questions Physicians Should
Ask Before Enrolling in an MBA Program"
minute audio is available for listening
immediately once you purchase the Special
Toolkit. And you can also download the
MP3 version for listening later on your
computer or iPod.
| Decision Analysis Worksheet
Use this tool for your own decision-making so
you can focus on what's important for
and factor in new insights that SHOULD be important
of Recommended MBA - THE
list of TOP Master's programs geared for physicians
-- recommended by the Physician Coaching
Institute advisory board.
#1: Special Report: "What the media is saying about the value
of MD MBAs" Get first-hand accounts
of physicians who have earned an MBA---and
some who went a different route---and how it
impacted their career and earning power.
#2: Special Report: "Physician Career Expert's Advice on Getting an
MBA" Get the "straight
scoop" on how employers view the value
of mid-career physicians with an MBA
you've been pondering whether you should get an MBA, don't
make that investment of time and money without doing your
thinking strategically about your career and about how you
to build up your business skills.
now via 100% secure online server.
After your order information is received you will immediately receive an
electronic receipt and an email confirmation of your order.
looking forward to walking you through the most
important questions you should be asking yourself before
you commit to 1-2 years of time away from your family,
and $50,000 to $80,000.
R. Gaillour, MD, MBA, FACPE
If you are a physician who wants to expand your career
in business or leadership, or wants to create additional
sources of revenue, or find a fulfilling
"niche" within or outside healthcare, then
getting advanced training in business is definitely an
option worth considering. What route you decide
on, when you time it, and what you
actively plan to get from it, though, will forever
affect your career path.
smart about it and take
advantage of "lessons learned" from
other docs That's what this toolkit is all