Why this degree? Why the Vanderbilt Owen Graduate School of Management? Perhaps no industry today is evolving more quickly than health care. While opportunities for growth and improved patient care abound, competitive and regulatory realities, rapidly emerging technologies, financial imperatives and human resource management present numerous challenges. And while physicians, nursing managers and hospital administrators have clinical and subject-area expertise, they often lack the business acumen required to manage people, projects or processes. This degree is designed to provide these health care practitioners with the business knowledge, insights, skills and connections to bridge that management gap.
Health care is a dominant sector of the U.S. economy that is facing a tremendous challenge, tremendous change and tremendous governmental intervention, so the value of good management and good decision making is critical. Larry Van Horn Associate Professor of Economics Faculty Director, Master of Management in Health Care Executive Director of Health Affairs
Owen has one of the best, if not the best, health care programs in the country because it is so practical. We are surrounded by major CEOs who are nationally and internationally famous for creating new business models to serve patients. They’re neighbors, they’re friends, they’re frequent visitors to the program, they’re guest lecturers, they teach every once in a while. It’s like you’re growing up with these folks who are at the cutting edge of American health care. U.S. Representative Jim Cooper
We knew we needed a training program for mid-level managers to improve their knowledge and their sophistication.We had always sent a lot of employees out of Vanderbilt for course work. The Master of Management in Health Care was a way for us to invest in our own management team as well as our employees’ personal development. C. Wright Pinson, M.D./MBA Deputy Vice Chancellor for Health Affairs CEO of the Vanderbilt Health System
Adjunct Professor of Health Care Management
Our managers are interested in advancing their careers, and it’s a way for us to retain some of our top people. Investing in them will pay off not only in the skills they learn in the program but it will keep them with us. Jeff Samz
Master of Management in Health Care
The Vanderbilt Master of Management in Health Care. Just a few of the companies that have invested in students and offered Capstone Projects: Accretive Health Ascension Health BlueCross BlueShield of Tennessee Family Cancer Center HCA Huntsville Hospital System LifePoint Health Maury Regional Hospital Nashville Metro General Northcrest Medical Center St. Thomas Health Services Vanderbilt University Medical Center
Want to learn more about how this program can help your organization achieve its goals, develop its managers and leadership team and retain top talent? We’d love to talk with you. Just call. 615.322.3682
Master of Management in Health Care Vanderbilt University Owen Graduate School of Management 401 21st Avenue South Nashville, TN 37203-2422
Telephone: 615.322.3682 Email: mmhc@owen.vanderbilt.edu www.vanderbiltmmhc.com
Chief Operating Officer Huntsville Hospital
©2016 Vanderbilt and the Vanderbilt logo are registered trademarks and service marks of Vanderbilt University. REV. 5/16 Vanderbilt University is committed to principles of equal opportunity and affirmative action. Visit owen.vanderbilt.edu for Vanderbilt University’s complete EEO and affirmative action statement.
Bridge the management gap with the Vanderbilt Master of Management in Health Care. A one-year degree that empowers physicians, nurses and other clinicians and administrators to excel in leadership and management roles.
TRANSFORM HEALTH CARE PRACTITIONERS INTO BUSINESS LEADERS.
Today’s health care organizations demand managers who comprehend and value the intricacies of practice yet have the confidence, expertise and skills to build and manage people, programs and organizational initiatives. The Vanderbilt Master of Management in Health Care (MMHC) is designed to help you transform your high-performing health care practitioners and managers into the leaders you need to advance your organization. The program is especially valuable to your organization when you support a four- to five-member crossdisciplinary team that will learn to work across organizational boundaries and hierarchies for the benefit of the company. Through management core courses, health care industry-specific courses, leadership coaching and a health care strategy project, students in the Vanderbilt Master of Management in Health Care program gain the essential business knowledge and management skills necessary to effectively manage people, projects and processes. The unique program schedule ensures the highest quality educational experience without disrupting the day-to-day operations of your organization.
8 10 35% of
The number of MMHC alums that would definitely recommend the program to a close friend or colleague.
The percent of Master of Management in Health Care students who have already earned advanced degrees.
Supporting Organizations n Hospitals
and academic medical centers n Clinics and health centers n Payors and managed care organizations n Larger physician practices n Other health care service providers Participants n Physicians n Nurse
managers
n Pharmacists n Service
line leaders leaders n Medical department directors n Administrative and other professionals n Other clinicians seeking career advancement n Practice
2 3
From the study of marketing and finance to operations, accounting and staffing, students build an understanding of the business of health care, which they can immediately apply on the job. You will find your employees emerge with shared experience and perspectives that enhance their individual and collective performance over the long term.
Develop leaders.
The Owen Graduate School of Management’s signature Leadership Development Program is woven throughout the program, giving your employees the additional insights and tools needed to become better leaders within your organization. Your employees will receive insight and instruction on leadership techniques and one-on-one coaching as well as access to best-of-class diagnostic tools used by Fortune 500 companies.
Advance organizational initiatives.
Throughout the program, students work in teams on a Capstone Project where they apply business concepts to a real problem, initiative or opportunity that your company faces. With support from Vanderbilt faculty and the Walker Management Library’s myriad databases, your team will be able to determine solutions that rival those of highly paid consultants.
Director of Emergency Services Huntsville Hospital Vanderbilt MMHC | Class of 2015
RONALD CLEMENTS, M.D.
LEE ANN BURNEY
Professor of Surgery and Director Center for Surgical Weight Loss Vanderbilt University Medical Center Vanderbilt MMHC | Class of 2015
Director of Reimbursement Maury Regional Medical Center Vanderbilt MMHC | Class of 2014
“Now I have the tools to transform myself and better navigate this complex and ever-changing health care ecosystem.”
“Now I can state what I think needs to be done for my organization from a strategic standpoint, and I know how to back up those decisions with financial data and analysis.”
ROMEO ENTSUAH
SHERRY HEMBY, COL, USAFR
Clinical Pharmacist Piedmont Health Care Vanderbilt MMHC | Class of 2013
The Management Core includes six graduate-level management courses that provide the solid business foundation upon which the health care industry-specific courses build. The same professors who teach in the world-class Vanderbilt MBA programs teach these modules. Owen’s faculty members offer both theoretical and practical knowledge across comprehensive business disciplines.
Expanding a regional footprint. Team developed a strategy for expansion by identifying criteria for evaluating and analyzing opportunities. Improving access to care. Team evaluated the feasibility of creating a telemedicine network as a way of improving access to care despite a physician shortage.
12 credits / One weekend per month
Decreasing non-emergency utilization of ER. Team identified un- and under-insured individuals and rerouted their visits from ERs to a new federally qualified and funded health center.
These six intensive Health Care Weekend courses ensure a solid grounding in how management fundamentals play out within the health care industry. Senior leaders and managers from top provider organizations partner with Owen faculty to provide the pragmatic insight required for these courses.
Assessing the impact of a merger. Team evaluated the impact of a new hospital and proposed marketing synergies as well as a specialized positioning that would result in incremental growth.
Capstone Project
6 credits / Concurrent with one-year program The Capstone Project engages teams of students on projects of significant importance to their organizations. With faculty oversight, students must demonstrate rigorous application of business concepts and disciplines. The student team is responsible for diagnosing the critical problem, defining an appropriate scope of work, managing institutional expectations and producing a suitable recommendation in both written and presentation form.
Vanderbilt Master of Management in Health Care
Supporting organizations tell us that the work done by their employees for the Capstone Project more than offsets the costs of tuition. How? By reducing the need to hire an external consultant. With faculty support and the resources and databases available through the world-class Walker Management Library, your team has everything it needs to succeed. Here are some examples of recent Capstone Projects.
Health Care Weekend Courses Commander 94th Aeromedical Staging Squadron Vanderbilt MMHC | Class of 2015
Optimize efficiencies. Accelerate growth. Plan for expansion.
Physician Leaders
On-site videoconference offers flexibility. Now your team members can fully participate in many of the class sessions without having to leave your facility. With state-of-the-art equipment and high-speed, broadband connections, your participants will enjoy the full, interactive classroom experience through two-way audio and visual communication. They can even engage in face-to-face dialogue with professors and peers. You may purchase our tested and proven system that we deliver, install, test and maintain. Or, upon review with Vanderbilt’s Information Technology Systems division, we can connect our technology to your hospital’s existing videoconferencing system.
Clinical Leaders
Nonclinical Administrators
Capstone Team
4-5 team members Average 15 years of work experience Age Range: 30-50 | Mid-Career
Curriculum at a Glance | 30 credits | 48 weeks FALL
SPRING
Mod 1
Mod 2
Core: Managerial Economics
Core: Leading Teams and Health Care Organizations
Industry: Economics of Health Care
Core: Marketing in Health Care
Excel Spreadsheets for Health Care Analytics
Each mod is eight weeks in length. Management Core classes meet one night per week; Health Care industry classes meet one weekend per month.
SUMMER
Mod 3
Mod 4
Core: Operations Management
Core: Managerial Finance
Industry: Configuring and Optimizing Health Care Operations
Industry: Health Care Finance
Mod 5
Mod 6
Core: Financial Managerial Accounting
Core: Strategy for MMHC
Industry: Health Care Accounting
Industry: Strategies for High-Performance Health Care Organizations
Capstone Project and Leadership Development Program
Graduation
1
Gain bench strength.
STACY LANGFORD
12 credits / One night per week
Spring Break
Nowhere will you find more business-relevant solutions for your health care professionals. By investing in clinicians, physicians, nurses, clinical administrators and non-clinical administrators from your organization, you will:
“Understanding the present value of a resource and principles of operational management have helped me to understand the processes and decisions that are made all around me each day in the medical center.”
“Owen has really expanded my view. The research requirements for the Capstone Project are making me dig deeper than I ever had before because I can see the benefits, not only for myself, but for my organization.”
Winter Break
AND REAP IMMEDIATE ROI.
“The sessions with my executive coach are invaluable. She helped me identify inner weaknesses and identify skills to build on my strengths, to prepare me to be a highly influential leader in my organization.”
The Management Core
Orientation
Equip your star employees with the tools to succeed in your organization.
You benefit. Your employees benefit. That’s called “win, win.”
One night a week. One weekend a month. One year. Business fundamentals. Leadership development. And health care specifics.
The Master of Management in Health Care Capstone Project