Thit is the sequel of a previous post, written also by our guest author Thuc Huynh. For more information about her, please refer to the short bio below.
Previously, we talked about where to get started in business. We looked at several options both expensive and inexpensive. Now, we’ll go into depth on one of the paths you can take to get your masters degree.
The American College of Physician Executives (ACPE) has been the home for many physicians already established in their professions and for those who want more experience in leadership skills. The organization has been around since 1975.
The ACPE holds regular conferences throughout the year dedicated to teaching physicians skills needed in the administrative world. In addition to their live conferences, they also offer online courses for the busy doctor. The benefit of a live conference is being able to network with other like-minded people as well as give you the ability to ask any questions you may have about the subject at hand. The benefit of an online course is being able to save money in travel and the flexibility to study whenever it suits you. Have to run to your daughter’s soccer game? Watch a lesson afterwards. Take a couple days to complete the class or take a few months. It’s the ultimate in flexibility.
You can take these courses PRN or you can take these courses as a part of their Masters program. The ACPE has contracted with four universities to offer three different masters degrees.
The degrees include :
- Masters in Business administration with a focus in Medical Management
- Masters in Medical Management
- Masters in Healthcare Quality and Safety Management
The four universities include :
- University of Massachusetts Amherst – MBA
- University of San Diego – MMM
- Carnegie Mellon University – MMM
- Thomas Jefferson University – MS-HQSM
Before you take classes with one of these universities, you are required to complete the ACPE Pre-requisite Curriculum. This includes 93 core credits and 32 elective credits. It’s not as bad as it sounds.
The way the ACPE calculates credits is very different from the way universities calculate their credits. In universities, it’s typical for one course to equal four credits. With the ACPE, one class can range from 3.5 credits up to 27 credits. The core classes carry many credits per class. I found that strange.
The ACPE classes are very healthcare management oriented. Some of the topics include Physicians in Management, Healthcare Informatics, Conflict Resolution, Healthcare Law, Strategic Thinking, etc.
I bet you think 125 credits sounds like a lot of money. It’s not. As an ACPE member, you get a discount. If you’re a medical student or resident, you get an even better discount. The total cost for the ACPE Prerequisite curriculum starts at $6,500 dollars. If you’re a resident, cut that in half. Yes, HALF. So if any medical students or residents are interested, get in on this before you graduate residency. I’m currently doing the prerequisite classes during my residency. So if you have any questions, feel free to contact me.
The cost for the rest of the masters’ degree varies according to the university you choose. Here is the lowdown:
- University of Massachusetts Amherst – $22,950
- University of Southern California – $33,800
- Carnegie Mellon University – $31,200
- Thomas Jefferson University – $28,350
Which university should you choose? This depends on which degree you want and which kind of learning environment you need. The University of Massachusetts and Thomas Jefferson University are 100% online. You don’t have to travel anywhere to complete these degrees. The other 2 universities are completed majority online but do have several required times where you have to fly to the campus for a week. During that week is an intensive training session along with the rest of your cohort class.
Another difference between the universities is the degree. The University of Massachusetts gives you general business knowledge whereas the University of Southern California focuses more on Entrepreneurship in the medical world. Carnegie Mellon focuses on Information Technology Management and Strategic Thinking while Thomas Jefferson University is about Healthcare Quality and Patient Safety.
I recently finished my first ACPE course called Business Plans. It took me about 3 weeks to complete [ keep in mind that I’m still in residency ] and the class is worth 5.5 elective credits. The online test consisted of 15 questions and was open-book. I’m taking Health Law next for 8 elective credits. My goal is to purchase all of the ACPE prerequisite classes while I’m in residency so that I can get the wonderful discount. Then I will finish the courses at leisure.
I hope I’ve given you a good preview into the ACPE Masters Program. It’s an excellent opportunity for medical students, residents, and physicians to get their masters degree. It’s cheaper than most programs out there. You don’t have to take the GMAT standardized test and you don’t have to go through a rigorous admission and interview process. What are you waiting for?
If you have any questions about the program or my experience with it thus far, please feel free to contact me.
This is a guest post by Dr. Thuc Huynh. Dr. Huynh is CEO of ScrubdIN, a shopping site for medical apps. Her main interest lies around how medicine can play a role with web 2.0 and social media. Dr. Huynh is currently Chief Resident at her Family Medicine Residency in Rapid City, SD and received her B.S. and M.D. at the Medical University of the Americas.