June 12, 2020

RFS Economics Web Meeting: The Importance and Utility of the MBA in Radiology

Moderators:
James Vogler, MD

Mohan Narayanan, MD

 

Panelists:

Geraldine McGinty, MD, MBA, FACR

Melissa A Davis, MD, MBA

 

Synopsis:

Scott Gerwe, DO

Mohan Narayanan, MD

 

 

The discussion included topics and anecdotes regarding organizational behavior, stakeholders and effective teams, interpersonal dynamics, process analysis and improvement, startup thought process, “elevator pitch,” how to fail, and having two separate resumes, among others. Panelists provided background on their careers and experience with MBAs.


Melissa Davis, MD, MBA

Dr. Davis is a neuroradiologist who completed her residency and fellowship training at the University of North Carolina. She pursued a fellowship in Leadership and Healthcare at Yale University and served as clinical faculty in the department of radiology with additional focus on healthcare improvement in the emergency department. Through her education and work, Dr. Davis became interested in clinical redesign, as well as start-up culture, and was approached by Nines to help build a teleradiology company. Currently an example of her business leadership roles includes serving as Chief of Clinical Operations at Nines.

ACR President Geraldine B. McGinty, MD, MBA, FACR

Dr. McGinty is a breast radiologist who completed her residency at the University of Pittsburgh and her fellowship in Women’s Imaging at Massachusetts General Hospital. She was recruited early in her career to work at Montefiore in New York City to build an outpatient imaging center from the ground up, after which point she began looking for more tools to help her perform in her position. With the support of her department she pursued an MBA at Columbia University. Currently an example of her business leadership roles includes negotiating insurance contracts for the entire Weill Cornell Physicians’ group.

A MBA might be right for you if you:

  • Are looking for a structured learning environment for business principles
  • Have both the time (time intensive) and money (can be very expensive)
  • Are interested in improving your understanding of the language of business and being conversant in that language
  • Are interested in meeting professionals from other fields and learning how they think about problems and processes

Does everyone interested in business need an MBA?

  • No! In fact, the panelists do not recommend pursuing an MBA during training; the focus should be on learning your trade!
  • Some MBA programs are healthcare focused; some are not

Benefits?

  • Networking and meeting professionals from other fields
  • Working in and building effective teams
  • Meeting and forming mentor/mentee relationships
  • Understanding how people from other industries think about problems and processes
  • Somewhat structured learning, learning from each other and dedicated classroom time

Detriments?

  • Time-intensive and potentially expensive
  • Opportunity cost of time and money
  • Not necessarily needed for all radiologists/doctors

For ACR Members specifically, the Radiology Leadership Institute® (RLI) is an excellent resource that provides education and tools for radiologists to learn principles of business in a structured way without pursuing a formal MBA. These principles are tailored to our field.

If you are interested we encourage you to listen to the entire webinar found on the ACR RFS Journal Club Page.