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For Employers:
I've found that employers should know several things when recruiting MD/MBAs to work for their companies. I have broken them out by section below:
Structure of Medical School & Residency
The typical path for medical students is four years of medical school followed by 3-12 years of residency. Of course, there are always changes to this. If a medical student pursues an MBA, which can add anywhere from 0 to 2 years to their medical school education, they typically pursue this after their second or third years.
Internship is the first year of residency but more and more, internship is just a part of residency. However, certain programs require a general internship (i.e. internal medicine or general surgery) before going onto a more specific field (i.e. Surgery or Internal Medicine before Anesthesiology, Surgery before Ophthalmology). Residency is when a physician really learns how to treat patients and where they develop their intuition about medicine. Many will argue that where you go to residency is far more important than the medical school you go to. Regardless, it is a pivotal point in a physician's career.
MD/MBAs That did not do a Residency
Hiring an MD/MBA straight out of school is very similar to hiring an MBA or undergrad straight out of school. They have book knowledge but they do not necessarily have the practical experience and intuition that comes with practicing medicine. Frequently, these individuals discovered during medical school that clinical medicine was not right for them and that is why they are not pursuing a residency. One of the huge benefits of a student like this is that they can speak and understand medical language and have been trained to think in business terms as well. Additionally, they have generally seen how an academic hospital works but they have not done the daily work that can make them an expert in understanding what other physicians go through. Lastly, these "physicians" cannot be licensed because they have not trained clinically.
MD/MBAs That Leave in the Middle of Residency
An advantage of hiring an MD/MBA that has completed some residency is that they have some medical intuition (although it is not fully developed) and they cannot be board certified. However, they can be licensed. The main issue with these individuals is to find out why they are leaving residency. Does this demonstrate their lack of committment to the team? Keep in mind that a resident leaving their program puts their school and their colleagues at a disadvantage. Residency programs typically hire a specific number of residents to cover a certain number of slots. If a resident leaves, especially in the middle of the year, other residents will have to cover them. There are definitely exceptions to this i.e. downsizing program, terrible residency program, but ultimately it is important to find out why the resident is leaving their program.
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