pharmd/mba for uci pre-pharmacy club mar 17
TRANSCRIPT
START HERE. GO ANYWHERE.
go.pacific.edu/mba
University of the PacificPharmD/MBA Programs
March 2017
Presenter:Chris Lozano
Eberhardt School Director of Student [email protected]
Why MBA? GMAC 2016 MBA Alumni Perspectives survey:
89% say FT MBA developed Qualitative analysis skills
87% say FT MBA developed Quantitative analysis skills
82% say FT MBA prepared them for leadership positions
80% say FT MBA offered me opportunities for quicker career advancement
Professionally, financially, and personally rewarding
Provides access to strong learning community and network
Skills are broadly applicable- 9% of all MBA alumni are working in Healthcare/Pharmaceuticals Industry
*source: 2016 Graduate Management Admissions Council Alumni and Prospective Student Surveys
PharmD/MBA Offers Differentiation
Quick fact: Although demand is expected to grow fast (25%+), supply is growing due to more Pharmacy Schools (29%) and therefore more graduates (46% increase from 2004-’11)PharmD/MBA signals interest, knowledge and commitment to managementCompensation one year after graduation from both programs was found to be 15% higher*Can be completed in one additional year (4 years total)Financial assistance often available
For more information on PharmD/MBA schedules:Pacific web page: go.pacific.edu/pharmd-mba
*source: Impact of a Dual PharmD/MBA Degree on Graduates' Academic Performance, Career Opportunities, and Earning Potential , Elinor Chumney, Kelly Ragucci and Kathy Jones, American Journal of Pharmaceutical Education. April 2008.
Key questions about PharmD/MBA-HC Management Track
Programs What are the Program options for PharmD/MBA? What is Structure for 16-month Early Advantage MBA?
Application and Admissions Are any admissions tests required? Are there any prerequisite classes for the MBA?
Cost & Financial Assistance What are the costs for the 1 year of MBA in the dual
degree PharmD/MBA ? For 16-month MBA? What types of merit-based financial assistance are
available? Other Areas
What New (job) opportunities would an MBA provide to a Pharmacist specifically? In the HC Industry generally?
LinkedIn: Great Resource for Pacific PharmD/MBA Network
Other interesting profiles: Christine Ahn ‘11- Director, Value-based Care Redesign (UCLA Health), Mahan Patel ’09 ’10 - National Clinical Director (PharMerica), Erik Clausen ‘07 ‘08 - Director of Veterinary Operations (Golden Gate Pharmacy) and Jonathan “JK” Fujimoto ‘09 – Pharmacy Supervisor (CVS)
Christine Nguyen ’10 PharmD/MBA
Vice President, Trade Relations at EnvisionRx Options Envision is a Pharmacy Benefits Management (PBM)
Company Envision was recently acquired by RiteAid and recently
acquired MedTrak Christine’s Key Responsibilities:
Manages manufacturer contracts and rebate administration operations
Coordinates Pharmacy benefits for companies as a 3rd Party administrator
Leverages relationships with drug manufacturers like Astra Zeneca and Pfizer to provide drug cost savings and key disease management programs for company partners
Benefits of PharmD/MBA Acc. to Christine MBA opened doors otherwise not available to her (outside of
clinical) Learned she is capable of handling larger course loads Provided a well-rounded educational background
Raj Ghandi- PharmD ‘09/MBA ‘10
Senior Associate Director, Account Medical Advisor at Boehringer Ingelheim (BI) BI is a German - based Pharmaceutical Company focused on
developing value-based health solutions for people and animals. Raj’s Key Responsibilities:
Provide timely and appropriate scientific information including data, BI’s pipeline to key decision makers and medical and commercial team members.
Assess and understand account strategies for disease management, treatment protocols and the patient journey.
Other Keys to Raj’s Success Completed a 1 year Managed Care Residency after completing
PharmD and before completing MBA Published article on Pulmonary Arterial Hypertension Constantly improving skills and developing new relationships
Not Prerequisites but Suggested
Microeconomics* - Econ 20A or Econ 26A at UCI Macroeconomics* - Econ 1 or 20B or H190B at UCI Statistics* - Stats 7 or Stats 8 at UCI Calculus* - Math 2A, 2B at UCI Completion of a Bachelor’s Degree (U.S. or equivalent) Suggested electives (based on space in your schedule)-
Business Law, Basic Accounting, and/or Management*AP units or equivalent courses at a CC or Online are also acceptable
Traditional PharmD/MBA Option (A): Applied Business Principles for Pharmacy + Healthcare Elective
Week
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
MODULES + HC Course - 17 Units Total
MBA
Orientatio
n
Mgmt. Info. SystemsMW 11:00-11:45 am
Assessment
Testing
Mgmt. & Org. BehaviorTR 12:30-3:00 pm Marketing
TR 12:00-2:30 pm
Accounting for Managers MW 3:30 – 6:00 pm
FinanceMW 4:00-6:30 pm
Data and DecisionsTR 12:30-3:00 pm
Healthcare Elective Times vary, typically late morning
Career Development (Not Required for PharmD/MBA)T 10:00-11:30 am
Associate Dean’s Seminar T 6:30-8:30 pm
Career Management Services for Full-time Programs
MBA Career Development Module Individual Career Management Planning
with a dedicated career professional Required MBA Internship for 16-month
MBA program Meet the Firms Event for all MBA and MAcc
Students Focus on mastering critical tactical skills
necessary for career success and to manage your career
Remaining MBA courses for PharmacySpring Term-
MBA 18 Units*
May-Jun Jun-Aug 2nd year Pharm-Fall/Sp
ring/Sum. Term
Healthcare Finance/
InsuranceStrategy
Implementation
Global MarketingGlobal Business
Competition(Units in Spring
Term Registration)*
Recommended MBA Internship
Healthcare Area elective
Entrepreneurial Management
Quality & Productivity
1 Healthcare Area Elective
International ExperienceEach year, the Global Business Competition course travels abroad for a two-week period of intensive instruction and business visits.
2013 - Shanghai and Hong Kong
2014 - Istanbul & Izmir, Turkey
2015 - Toulouse, France
2016 - La Havre, Dijon and Paris, France
2017 - Spain
2008 - Taiwan and Hong Kong
2009 - Panama and Costa Rica
2010 - London, England
2011 - Istanbul, Turkey
2012 - Shanghai and Beijing
Alternative PharmD/MBA Option (B)- Begins in Year Two of PharmD
PharmD Fall – Year 2: 1 Healthcare MBA Course
PharmD Spring – Year 2: 1 Healthcare MBA Course
MBA Year (Year 3 of 4): Applied Business Principles for Pharmacy + Healthcare Elective
Week
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
MODULES + HC Course - 17 Units Total
MBA
Orientation
Mgmt. Info. SystemsMW 11:00-11:45 am
Assessment
Testing
Mgmt. & Org. BehaviorTR 12:30-3:00 pm Marketing
TR 12:00-2:30 pm
Accounting for Managers MW 3:30 – 6:00 pm
FinanceMW 4:00-6:30 pm
Data and DecisionsTR 12:30-3:00 pm
Healthcare Elective (3 Units) Times vary, typically late morning
Career Development (Not Required for PharmD/MBA)T 10:00-11:30 am
Associate Dean’s Seminar T 6:30-8:30 pm
Remaining MBA courses for MBA Year
Spring Term-MBA
18 units
May-Jun Jun-Aug
Healthcare Finance/ Insurance
Global Marketing
Global Business Competition
(Units in Spring Term Registration)*
Recommended MBA Internship
Entrepreneurial Management
Quality & Productivity
Strategic Management
How and When to Apply
Complete PharmCAS with Pharmacy Supplemental questions for earliest possible tier.
MBA Online Application available on Instructions for Pharmacy Applicants page beginning October 15, 2017*.
Key Application DatesFall 2018 Round 1 - January 15 (FT Priority
Review) Round 2 - March 1 (FT MBA – All
Programs) Round 3** - June 1 (FT MBA late
submission)* I recommend applying as soon as you have received an interview
offer (Plan A).**Round 3 is considered on-time for Alternative PharmD/MBA for
currently matriculated Pharmacy students (Plan B) but shoot for Round 2.
APPLICATION ELEMENTS
Step 1: Complete Application and Submit Online MBA Application, 2 Personal Statements
and Resume Letters of Recommendation (At least 1 addl.
recommended) Application Fee - $50 (Waived for ALL PharmD/MBA
applicants)
Step 2: Supplemental Documents Official Transcripts from all institutions (incl.
transfer)- Pulled from PharmCAS application Official GMAT (or GRE) Scores Interview (by invitation only)
2016 New FT MBA Student Profile GPA Average: 3.44 (Range 3.10 - 3.72) GMAT Average: 541 (Range 440 - 670) Average Age: 23.4 (Range 21 to 26) Average Experience: < 1 year (Range 0 to
4) International: 13% (Down from 18% in ‘15) Female: 50% (Same in ‘15)
Costs for Graduate Business Programs (AY 2016 -17)
Please see the
MBA & MAcc Cost & Financial Aid
Page for the latest Information
Costs for MBA Year for PharmD/MBA (AY 2016 -17)
Tuition- Full-time (2 semesters)* $ 44,068.00
Wellness Center Fee (9+) $ 240.00
ASUOP & Activity Fees (9+) $ 140.00
Travel – Global course (est.)** $ 3,500.00
Books & Personal (est.)** $ 5,000.00
TOTAL COSTS $ 52, 948.00
* MBA Courses taken in PharmD may require overload at Pharmacy Tuition Rates
**Costs may vary by location and required texts/cases.
Scholarships and Assistantships Eberhardt Merit Scholarships
Joseph Kaeslin Memorial Endowed Scholarship Edward M. Nagel Scholarships Robert and Frances Ferguson MBA Endowed Scholarship Credit Bureau of San Joaquin Endowed Scholarship Marian & George Malloy Endowed MBA Scholarship
PharmD/MBA Merit-Based Scholarship Long Foundation(s) scholarships for PharmD/MBA Students
MBA Merit-Based Graduate Assistantships 1/3 Tuition Assistantship 1/2 Tuition Eberhardt Scholars Assistantship
Private Scholarships ACHE – Albert W. Dent and Foster G. McGaw scholarships
(ache.org.Students)
Time for some Q & A
Why the Eberhardt Graduate Programs in Healthcare ?
One of a only few Healthcare Management Programs (and only PharmD/MBA) in an AACSB accredited school in Northern California
Ranked as #9 Most Diverse Business School by Businessweek Member of AUPHA- Assoc. of University Programs in Healthcare
Advanced management training with opportunity for individual focus within General Mgmt. or Healthcare Mgmt. tracks
International study experience
Dedicated Eberhardt Career Management staff
Small Interactive Classes (Average - about 20)
Dual & Cooperative Programs: JD/MBA & PharmD/MBA New Master of Accounting (MAcc) students add new perspectives
For more information
Call: 209.946.2629
E-mail: [email protected]
Web: go.pacific.edu/mbaOffice: Weber Hall, Suite 206
(Student Services)
Presentation available at Slideshare.net/clozano67
START HERE. GO ANYWHERE.
go.pacific.edu/mba
Eberhardt School of Business