Albany Medical College and Union Graduate College will start offering a joint MD/MBA degree starting fall 2014 that combines a master's in business administration with medical school.
This joint degree, which is a first for both the colleges, can be completed in five years. Students enrolling in the program will be accepted at both Albany Medical College and Union Graduate College.
Of late, medical students are recognizing the importance of business skills as the healthcare system is becoming more and more complex with doctors taking on more nontraditional roles and margins in private practice becoming rigid and tough to supervise.
"Today, a traditional 'doctor's bag' must carry a wider range of skills and equipment," said Vince Verdile, M.D., dean of Albany Medical College and a Union Graduate College trustee. "From managing teams to analyzing data and financials, the evolving health care environment demands business acumen. By partnering with Union Graduate College's School of Management, we are uniquely qualified to offer students the full range of tools they need to succeed in medicine."
Across the country, 50 joint programs are currently offered, but Albany Medical College and Union Graduate College program is one of the five MD/MBA degrees that has received gold-standard accreditations in medicine, business and healthcare management.
Albany Medical College, founded in 1839, is one of the oldest medical colleges in the country.
The university boasts of two Nobel Prize winners, two Lasker Award winners, two MacArthur Fellowship recipients, one Gairdner Foundation International Award winner, former Surgeon General of the United States Army and former Surgeon General of the United States Air Force.
