The Miami Herbert Business School offers an MD MBA Dual degree program in partnership with the University’s Miller School of Medicine. The business curriculum prepares future physicians for the business complexities related to running a private medical practice or heading a group practice, as well as prepare medical students for careers in health sector management, leadership, and policy. The MBA coursework ranges from financial reporting and corporate strategy to the legal aspects of health administration.
Current Medical Students:
For those that enrolled at the Miller School of Medicine prior to 2020, the MD MBA dual degree program adds an additional year to the medical school curriculum. Medical students would apply to the MBA during their third year in order to complete the MBA curriculum in their fourth academic year of study.
NextGen Medical Students:
Medical students that will begin the NextGen MD curriculum at the Miller School of Medicine for Fall 2020 or later would complete a four-year format of the MD MBA dual degree program. This format of the dual degree integrates the MBA curriculum throughout, allowing students to develop business skills and knowledge in health care management at an earlier stage.
ACC 670 – Financial Reporting and Analysis (2 credits)
The course focuses on the analysis and use of financial accounting information in the evaluation of corporate performance. The course initially demonstrates the accounting process and resulting generation of financial statements. Building on these core accounting concepts, the course emphasizes the understanding of financial statements prepared under U.S. and International Accounting Standards and the analysis of these financial statements including common size analysis, ratio analysis, the impact of taxes, and credit analysis. Completion of the course enhances the student's ability to read, interpret, and analyze financial statements for making investment, credit, acquisition, and other evaluation decisions. Limited to MBA students and Executive MBA students. Does not satisfy any accounting requirements needed to sit for the CPA Exam in Florida.
ACC 671 – Accounting for Decision Making (2 credits)
The course focuses on the use of accounting information in reporting managerial performance and making business decisions. The course covers the preparation and use of managerial accounting information for use in planning, budgeting, control, break-even analysis and pricing, including the impact of taxes. Completion of the course will enhance the student's ability to understand managerial accounting reports and use this information in making business decisions. Limited to MBA students and Executive MBA students. Does not satisfy any accounting requirement needed to sit for the CPA Exam in Florida.
BTE 610 – Foundations of Management Information Systems (2 credits)
Course is designed to provide the foundations in management information systems required to understand and effectively use an enterprise wide information system. Topics include the role of the CIO, managing Information Technology (IT) as a strategic resource, business process reengineering, IT planning, IT governance and communication, the Internet, and eBusiness.
ECO 685 – Managerial Decisions in a Global Economy (2 credits)
Modern techniques of economic analysis and decision science are applied to the management of the firm in a global environment. Business planning and the determinants of supply and demand are an integral part of the course. The principal forms of business organization and dissolution are reviewed. The major issues confronted by the firm: Principal-agent problem (or how to motivate managers to act in the best interest of the owners, the shareholders), moral hazard, discounting of free cash flow and terminal value, economies of scale and scope, and strategic management decision making are covered.
FIN 641 – Valuation and Financial Decision Making (2 credits)
Basic financial valuation. This is one of the core classes in finance for our regular MBA program. Topics include the financial environment; the time value of money; capital market efficiency; basic security valuation; risk, return and asset pricing; cost of capital; and an introduction to capital budgeting.
FIN 642 - The Financial Environment (2 credits)
A continuation of FIN 641, with an emphasis on important issues faced by corporate financial managers responsible for financing and investment decisions. Core topics include capital structure, payout policy, advanced capital budgeting, basic derivative and real option valuation, leasing, and investment banking. Specialized topics, such as behavioral finance, international finance, mergers and acquisitions, and risk management may also be introduced as the course progresses.
MAS 631 – Statistics for Managerial Decision Making (2 credits)
This course aims to familiarize the student with statistical theory, tools, and methods required for business systems analysis and improvement. Topics include descriptive methods, elementary probability, random variables and the distributions, hypothesis testing, confidence intervals, statistical modeling, and regression.
MAS 632 – Management Science Models for Decision Making (2 credits)
This course aims to familiarize the student with Management Science tools for business systems analysis and improvement. The coverage includes linear and integer programming models, project management, simulation, queuing, and decision analysis. Some widely used software are illustrated through examples and case studies derived from business applications.
MGT 620 – Managing Through People (2 credits)
This core course in the MBA program introduces students to some of the key behavioral topics necessary to manage oneself and others in organizations. Specific ally, the topics covered include individual attributes (personality, perception, motivation, relationship building), group processes (norms, roles, and team basics), leadership views, and organizational culture/change. An understanding of the relationship between each of these areas and organizational outcomes is enhanced through lecture, cases, and interactive exercises.
MGT 643 – Principles of Operations Management (2 credits)
Introduction to operations management, forecasting, process analysis, aggregate planning, capacity management, waiting line management, system design, quality management, and inventory management.
MGT 675 – Business Policy and Strategy (2 credits)
The objectives of the course are to improve the student's ability to think strategically and to provide an intellectual framework that enhances understanding of the MBA program. The course focuses on relationships among the firm, its strategy, and its environment; why firms choose certain businesses; which business strategies are successful; and how firms can change in response to a dynamic environment. Models for strategic formulation, implementation, and control are developed that facilitate an integrated understandingof the courses that comprise the MBA curriculum. Readings and lectures illustrate strategic management theories and frameworks while case discussions, experiential exercises, and team projects provide opportunities for application.
MGT 677 – Corporate Strategy and Organization (2 credits)
This capstone course focuses on the perspective and skills of the general manager. Its purpose is to provide practice in diagnosing and identifying realistic solutions to complex strategic and organizational problems. Course builds on previous coursework by providing an opportunity to integrate various functional areas by providing a total business perspective. Since the course focus is on pragmatic, action-oriented general management skills, the course is taught primarily through the case method and requires both written analyses and case presentations.
MKT 640 – Foundations of Marketing Management (2 credits)
Course introduces students to the analytical concepts and tools of marketing management. Special emphasis is placed on the relationships between marketing and overall company strategy, the development of a customer orientation, the integration of marketing throughout the organization, and the implementation of systems for planning and controlling the marketing effort. Students consider problems of consumer analysis, product planning, integrated communication, distribution, and pricing. The discovery and application of marketing management skills are developed through the use of readings, case exercises, and class discussions.
BSL 685 – Legal Aspects of Health Administration (3 credits)
Derivation of rule of law governing health providers, vicarious liability of administrative and medical personnel, informed consent, and other related problems are discussed.
BUS 655 – Public Policy and Health (3 credits)
Development of public policy at the federal, state and local level. Policy process, models of policy analysis, policy development in several government service areas, and plans for policy change. Special emphasis on health policy formulation, implementation and the use of epidemiological tools in health policy analysis
HMP 601 – Essentials of Health Care Administration (2 credits)
This course develops an understanding of the basic elements of the health Services industry in the United States. A systems approach will be used utilizing a historical perspective as a basis and moving on to current and potential future system dynamics. The various components of the health care system will be examined, including physician services, hospital and hospital systems, long-term care providers, mental health services, and pharmaceutical services. Various elements associated with the financing of health services will be examined as well as indemnity insurance, capitation, and the role of managed care and consumer-driven health care in theory and practice. The role of government and its impact on our health care system will be explored as well.
HMP 640 - Health and Medical Decision Making (2 credits)
Population health is emerging as a field of study of health determinants, a concept of health, and a goal of achieving measurable improvements in the health of a defined population. In this course, students will gain an understanding of the determinants of population health, health outcomes of the population, and policies and interventions that link the determinants and outcomes while exploring the business case for health.
HMP 684 - Analysis of Health Care Delivery and Policy (2 credits)
All societies must deal with the allocation of scarce resources. In our society, primary reliance is placed on markets and prices. Since most students are unfamiliar with the methods of decision-making from a manager’s perspective, we will discuss criteria to evaluate the allocation of resources and analyze the behavior of two of the principal actors – consumers and firms. A careful analysis of the choices made by individuals, organizations, and governments will demonstrate that sensible “choice architecture” can successfully nudge people toward better decisions without restricting their freedom of choice. The principles of economic and management decision-making will be presented in the context of health care systems and markets. We will use numerous real-world issues and case studies to demonstrate decision-making techniques, especially for health care organizations and consumers.
Current MD students are eligible to apply to the MD/MBA program during their third year of medical school and would complete all MBA coursework in their fourth academic year of study.
NextGen MD students that plan to enroll at the Miller School of Medicine are eligible to apply for the MD/MBA program for Fall 2020 or later. Candidates must apply directly to the Miller School of Medicine and Miami Herbert Business School for consideration.
The MBA application is available through BusinessCAS at bus.miami.edu/apply. A valid GMAT test score is required but may be submitted after the online application is received. For more details on the MBA admission requirements, please contact Graduate Business Admissions at mba@miami.edu or at 305-284-2510.