Health care is now a priority on the business school agenda. (Photo by Robert Cianflone / Getty … [+]
Where will business schools have the greatest impact in the next ten to twenty years?
With John Byrne, Editor-in-Chief of Poets & Quants, we put this question to the deans of the world’s best business schools at the CentreCourt MBA Festival, which we jointly host. From AI, data analytics and supply chain to ESG, climate finance and smart retail, there are plenty of informed opinions. But one of the most consistent responses over the past five years, from Boston to the Bay Area, is that business schools play an important role in the future of healthcare.
Many of these reactions preceded the global Covid-19 pandemic that has impacted every individual and sector around the world. In addition to a tragic death toll that continues to rise, it has caused massive social turmoil, exacerbated physical and mental illness, business collapse and a sharp rise in unemployment.
And with other health threats like obesity, heart disease and air pollution adding to the challenge of an aging population, it’s no wonder health care is now a priority on business schools’ agendas.
A growing number of business schools are now offering specialized electives in health and health-related courses and programs so that students can adapt their learning experiences to the ever-changing world in which we live. More than 25% of the faculty at the Johns Hopkins Carey Business School in Baltimore specializes in healthcare. They also offer eight health programs and two health courses for executive education. Carey Business School knows that now, more than ever, healthcare cannot be treated with traditional business principles. Individuals need special industry knowledge if they want to bring innovations to market and be a leader in this industry.
In Nashville, where the healthcare industry contributes more than $ 46 billion and more than 270,000 jobs to the local economy, Vanderbilt University’s Owen Graduate School of Management offers MBA students a major in healthcare with more than a dozen electives by Healthcare Law & Regulation are enough. to Healthcare Analytics. An immersion into healthcare through this course allows students to gain the perspectives of those working on the front lines of the healthcare sector, including doctors, nurses, patients, scientists, and administrative staff in real-world healthcare settings. MBA students even have the opportunity to observe real operations.
Elsewhere, Cornell Johnson offers an Executive MBA / MS in Healthcare Leadership, the Yale School of Management offers an MBA with an emphasis in Healthcare, and you can get an MBA from Wharton, Kellogg, Duke Fuqua, UCLA Anderson, and Berkeley Haas with one Acquire Healthcare Management Program or Major. These are just a few of the leading US business schools that offer health-related options and electives as part of their business programs.
But how about going one step further and making healthcare your entire focus?
The prestigious University College London (UCL), one of the 10 best universities in the world and known for teaching and research from archeology and anthropology to life sciences and medicine, founds the UCL Global Business School for Health. Rather than being a business school offering electives and options in health care, UCL GBSH is the world’s first business school devoted to health. Aimed at current and future leaders in the global healthcare industry, the new school will equip leading professionals with the skills necessary to meet the challenges facing healthcare systems today.
UCL GBSH is the world’s first business school dedicated to health
All of the courses offered by UCL GBSH cover both business and healthcare. This includes a selection of short and online courses, masters programs, executive education and their MBA health program. Through these courses and their research, the school will provide education to empower tomorrow’s healthcare leaders to make a real difference in healthcare systems around the world and access and outcomes in healthcare through leadership, partnerships and innovation worldwide to change.
The director of UCL Global Business School for Health, Nora Colton, is a trained health and international development economist with experience in the Middle East and North Africa region. Throughout her career, she has seen the importance of quality health care in improving life outcomes and emphasized the importance of the health-focused business school to seamlessly integrate business and health.
“We don’t just need to increase the number of people in the healthcare system and educate them; we need to familiarize them with technology and analytics and work in multidisciplinary sectors to solve health challenges, ”explains Professor Colton. “And that’s what this school is all about. We are a business school with health, so we work in many other faculties at UCL to provide this multidisciplinary experience for students. “
Nora Colton believes that we are now entering a new historical era in which health and healthcare will become a new important factor in society. Even before the pandemic, various factors were driving global GDP that was used by health and healthcare. Unhealthy diets, lifestyle changes, non-communicable diseases, and aging societies; all of these factors and more are increasingly affecting the health of people around the world, but the global health sector is lacking in medical personnel.
“The Covid pandemic has shown the importance of getting health care right, but it’s not just” … [+]
“We will continue to see health exposed to its inequalities and challenges. By 2025, there will no longer be 15 million health workers filling the gap in relation to our needs in the global health system, ”reveals Professor Colton. “The training of individuals and the professionalization of health management are an essential part of our needs. We have seen around the world that health is a natural sector; We have not paid any salaries, we have not invested in training and management, and we now see the serious consequences if we no longer focus on health. “
While Colton recognizes that training people for health management positions is important to the future of a better health system, she also understands that this is not all that needs to be addressed: “The Covid pandemic has shown the importance of the Getting healthcare right, it’s not just about training doctors. It’s about how we manage our health systems. “
It is for this reason that UCL GBSH does not just focus on training future health care leaders to ensure there is a sufficient workforce. The school also aims to have a global impact on helping women enter higher positions in health systems.
“In the UK, 75% of healthcare workers are women, but only 20-25% hold managerial positions,” says Professor Colton. “If we look around the world, especially in low- and middle-income countries, we see even more clearly that women are not seen in management positions.”
By offering a Women Healthcare Leaders Scholarship to female students in its MBA Health and MSc programs, the school aims to help female graduates enter leadership or C-suite roles in healthcare. As part of their scholarship, the scholarship holders receive leadership coaching and highly effective leadership training: “As we see how professional boundaries are disappearing, we have to make sure that there is a group of women who can rise up and make a difference.”
Professor Colton wants the new health-focused business school to be so much more than just a place for education and training. She wants it to be a place where health professionals and others in the healthcare sector, regardless of their role, can come together and learn from and with one another. Says Professor Colton, “I envision it as a place where our global health sector can get the space it needs to rebuild the health management ecosystem together for a healthier world. Anything we can do to positively contribute to a more focused understanding in this sector is invaluable.
“I think the timing of this school is crucial. This is an opportunity for UCL to lead and define how business schools incorporate health. “