If you had told 16-year-old me that I needed business training, I’d probably have stared at you confused — or perhaps rolled my eyes. I was too busy figuring out how to get into medical school, and crafting a perfectly laid plan to become a “traditional” academic physician. Business school and medical school, to me, at that age, would have felt mutually exclusive.
But at some point, I started noticing a paradigm shift. As I progressed through undergraduate education, medical education, and subsequently my medical career, I noticed there was a real lack of organizational training. I could memorize information, I could take tests, I was deemed technically competent, and I could treat patients. But no one had particularly taught me how to lead a high-performing team, negotiate strategically, communicate effectively, or mitigate conflict. To an extent I picked these up on the job, but found that my counterparts in other industries had a leg up.
And for women physicians in particular, an MBA can serve as an impactful tool to break through barriers, amplify leadership potential, and drive meaningful change in the health care ecosystem.
Deciding to pursue an MBA as a physician was not a decision I made lightly. A career in medicine is already demanding, and the prospect of adding business school — after years of intense study and training — felt daunting. But I came to understand that grasping business principles — from financial management to organizational leadership — was essential to achieving the systemic change I aspired to.
Selecting the right MBA program was crucial. I sought one that offered the flexibility to balance my clinical, administrative, and academic commitments, while providing a curriculum that addressed the gaps in my knowledge. I also needed a program with a robust network, fostering collaboration across diverse fields and backgrounds. Now, in my second year as an MBA student, I can confidently say that this journey has equipped me with new perspectives and insights that profoundly enhance my approach to problem-solving.
Three transformative areas have emerged from my MBA experience so far: leadership development, financial literacy, and strategic thinking.
Leadership Development
As physicians, we often lead multidisciplinary clinical teams, with the most important stakeholder being the patient. My MBA experience has sharpened my capacity to work across diverse disciplines, collaborate with non-clinical professionals and divisions, and lead with intention in increasingly complex organizational environments. In addition to addressing systemic biases in health care, these “soft skills” offer a valuable tool for closing the persistent leadership gap women in medicine face, equipping us to lead teams and organizations not only in clinical settings but also in broader decision-making arenas.
Financial Literacy
Understanding the business of health care — managing organizational and departmental budgets, negotiating salaries, and navigating the economics of health care and patient care — is essential for women physicians who are often excluded from these conversations. Earlier this year, I participated in a trip to Romania and Sweden, where we studied value-based health care. It was the first time I was formally didactically taught on the concept of linking health outcomes with economic incentives. It struck me how little medical education prepares us for these practical financial realities, from RVUs and fee schedules to the broader economic strategies shaping health care delivery. Additionally, financial knowledge is a powerful tool to dismantle barriers — such as the common challenges women face in negotiating contracts and earning promotions — allowing us to advocate for ourselves and our value with newfound authority.
Strategic Thinking and Problem-Solving
As physicians, we are trained to diagnose and treat individual patients, but today’s health care landscape demands far more. We must become innovators who can navigate complexity and lead systemic change. Health care challenges are no longer just clinical; they are multifaceted, requiring a deep understanding of organizational dynamics, economics, and technology. To truly address these issues, we must be able to step back, adopt multiple lenses, and craft solutions that are not only innovative but scalable and sustainable. This expanded perspective allows us to drive transformative impact — not just at the bedside, but across entire health care systems.
A longstanding belief in medicine persists: that the MBA is reserved for those who wish to abandon clinical practice or pursue purely non-clinical paths. However, as health care evolves in complexity, I believe it is imperative that physicians engage with all facets of the industry in which we operate — if we are to remain at the forefront and ensure optimal patient-centered outcomes.
I believe that more women physicians should consider pursuing an MBA or similar managerial or leadership training. The gender gap in medicine is still significant, particularly in leadership and managerial positions, and business education may provide a few of the tools necessary to bridge that gap. By acquiring business acumen, women physicians can assert themselves as leaders, innovators, and decision-makers in health care.
Do you have an MBA? Share your MBA experience in the comments.
Dr. Rosy Thachil, MD, FACC, is a quadruple board-certified cardiologist, assistant professor, and CICU director in NYC. Her interests include critical care cardiology, gender equity, and physician leadership. She serves in multiple leadership positions including at AMWA, ACC and SoCCC, and is also an MBA candidate at the Wharton school. You can reach out to her at her website or at LinkedIn.
Illustration by April Brust
