Become a leader in health care systems.
Increasingly, the health care marketplace is paying a premium to those individuals who have technical, clinical and administrative training. In transitioning to patient-focused care, the success of future health care practitioners hinges upon the ability to manage and market health care services.
PharmD/MBA’s find excellent career opportunities including managerial and consultancy jobs in the healthcare industry.
The cooperative Doctor of Pharmacy/Master of Business Administration (Pharm.D./MBA) program is designed to aid students who seek positions of management and leadership that require a combination of patient care and management skills. If you are interested in the business side of pharmacy operations, then the joint PharmD/MBA program is right for you. You can earn an MBA and graduate with two degrees at the end of your four years you have already committed to the PharmD degree.
Learn More About The Dual Program
Many PharmD’s go back to school to get an MBA. By earning the two degrees at the same time, you can:
- Double count courses to minimize the time and cost of dual degrees
- Use your summers to take MBA courses without overloading in fall or spring
- The additional cost is under $12,000
The dual PharmD/MBA program is ideally suited to obtaining the requisite skills needed to thrive in this environment. Earning both degrees simultaneously requires both minimal additional monetary outlay and minimal additional time.
You will earn both graduate degrees simultaneously within four years with course substitutions for electives between both programs. You will complete the PharmD/MBA Advanced Pharmacy Practice Experience, which substitutes for one MBA elective.
Small classes guarantee you’ll receive individualized attention with support from accomplished faculty who deliver high quality courses based on real world experiences. Classes emphasize practical, hands-on applications that make your MBA work in any healthcare career path you choose. The majority of core MBA courses are completed in two summer terms, preventing additional burden during the completion of the PharmD curriculum, and a discounted tuition scholarship is applied to all MBA courses in summer terms.
Career and Salary Possibilities
The dual Doctor of Pharmacy/Master of Business Administration (Pharm.D./MBA) program educates students to assume responsibilities as managers, administrators, consultants, and executives in health care systems designed to provide health care to customers.
- Pharmaceutical industry
- Medical/hospital center administration
- Managed care
- Public health service (e.g., FDA, IHS, CDC)
- Professional associations (e.g., APhA, AMCP, ASHP)
- Outcomes research
- Monitoring clinical trials/project management
- Academic administration
- Retail pharmacy administration
Health care managers need a broad organizational overview to successfully plan, organize, lead, and control in the dynamic health care environment. They need to know how to motivate, lead, and work with others to accomplish organizational and personal objectives.
To this end, the program is directed toward providing the education students need to develop an understanding of the major functional areas in health care organizations, and to design strategic plans and policies to cope with the changing pharmaceutical and health care environments.
By combining a “generalist” business degree with a PharmD degree, students gain the requisite skills to do this and will realize significant additional career opportunities. The dual degree is designed to aid students who seek positions in administration and leadership that require a combination of patient care and management skills.
The Dual PharmD/MBA program helps you understand the major functional areas in health care organizations and to design strategic plans and policies to cope with the changing pharmaceutical and healthcare environments. We will also teach you how the success of future health care practitioners hinges upon the ability to manage and market health care services.
- No MBA courses
Summer between P1 and P2 year – MBA foundation courses (as needed)
- ACCT 501: Foundations of Accounting (3 credits)
- Equivalent to undergraduate Accounting I (3 credits) & II (3 credits)
- BAFI 502: Foundations of Finance (1.5 credits)
- Equivalent to undergraduate Introduction to Finance (3 credits)
- ECN 501: Foundations of Economics (3 credits)
- Equivalent to undergraduate Principles of Macroeconomics (3 credits) & Microeconomics (3 credits)
- MKT 502: Foundations of Marketing (1.5 credits)
- Equivalent to undergraduate Introduction to Marketing (3 credits)
- QM 501: Foundations of Analytics (3 credits)
- Equivalent to undergraduate Statistics & Data Analysis for Business (3 credits) & Quantitative Methods (3 credits)
P2 Year – Spring Term
- ACCT 511: Accounting for Decision Making & Control (3 credits)
- Substitutes for PHAR elective (3 credits)
Summer between P2 and P3 year
- MGT 513: Organizational Structure & Behavior (3 credits)
- MIS 514: Decision Sciences & Management Information Systems (3 credits)
- MKT 511: Marketing Management & Strategy (3 credits)
P3 Year – Fall Term
- BAFI 517: Financial Management (3 credits)
- Substitutes for PHAR elective (3 credits)
P3 Year – Spring Term
- SCM 530: Operations & Supply Chain Management (3 credits)
- Substitutes for PHAR elective (3 credits)
Summer between P3 and P4 year
- ECN 512: Business Forecasting (1.5 credits)
- ECN 514: International Economic Analysis (1.5 credits)
- MGT 535: Human Resource Management (3 credits)
- MGT 611: Integrative Management (3 credits)
P4 year – Fall or Spring Term
- PharmD/MBA Advanced Pharmacy Practice Experience (5 weeks)
- Substitutes for MBA elective (3 credits)
- Substitutes for PHAR 806: Selective APPE (Spring-5 credits)
Associate Professor, Pharmacy Practice; Director, Office of Continuing Pharmacy Education; Online Curriculum CoordinatorFull Biography
- Full-time BJDSOP student in good standing pursuing PharmD degree with at least GPA = 3.0 in P1 Fall Term
- Undergraduate degree from accredited institution, preferably with at least GPA = 3.0 (may require an interview with business school if GPA < 3.0)
- MBA graduate application no later than March 1 of P1 academic year (GMAT/GRE not required)
- Curriculum vitae
- 2 letters of recommendation (one will be written by PharmD/MBA faculty advisor)
- A 2-page double-spaced letter of intent discussing how MBA will complement PharmD career
- Complete foundation courses Caveats
- Will not complete 3 PharmD electives and 1-2 Selective PharmD APPEs
- May not earn more than 2 C’s in MBA courses, including PharmD courses that count towards MBA
- Must maintain at least GPA = 3.0 in both PharmD and MBA programs
- Must complete MBA program within 5 years of starting Tuition Costs
- Included in PharmD tuition:
- 3 MBA core courses substitute for 3 PharmD electives (9 credits)
- 2 PharmD courses substitute for 2 MBA electives (6 credits)
- P4 PharmD/MBA Advanced Pharmacy Practice Experience (APPE) substitutes for remaining MBA elective (3 credits)
- Student responsible for 18 credits of MBA core courses taken in P2-P3 & P3-P4 Summer Terms
- Scholarship for additional graduate degree (2012-2013: $774 - $160 = $614/credit)
- Student responsible for extra tuition for up to 12 credits of foundation courses (specific for each student), which need to be completed prior to P2 Spring Term and within 10 years of MBA application P4 PharmD/MBA Advanced Pharmacy Practice Experience (APPE)
- 5-week PharmD/MBA APPE substitutes for one Selective PharmD APPE (5 credits) and MBA Elective (3 credits)
- Various sites: Pharmaceutical industry, managed care, pharmacy benefit management, public health service, hospital/retail pharmacy administration, healthcare insurance, healthcare informatics
- Goal: Obtain basic understanding of technical, administrative, managerial and operational aspects of organization, complete organizational projects, and make a worthwhile contribution to organization
MBA Graduation Requirements
Students are reminded that the PharmD program and the MBA program have different degree requirements. Students are advised to familiarize themselves with these requirements and to discuss them with their School of Pharmacy PharmD/MBA Faculty Advisor or the School of Business.
- It is anticipated that students who are jointly enrolled in the dual PharmD/MBA program will complete both degrees within the four academic years of the PharmD program.
- The MBA portion of the degree must be completed within five calendar years of admission to the program.
- Students must complete the core 36 hour curriculum, which includes nine hours of PharmD courses accepted as MBA electives.
- Students must maintain an overall 3.0 GPA in both the PharmD and MBA programs. No more than two courses graded “C” can be counted toward the MBA degree, including the PharmD courses accepted as MBA electives.
- There are no “D” grades in the MBA program. If a student earns a grade of “D” in a PharmD course accepted as an elective, it will be treated as an “F” for purposes of the MBA program and will not be accepted for credit toward the 36 hour requirement of the MBA program.
Dual PharmD/MBA Program Frequently Asked Questions
What are my options in satisfying the foundation course requirements?
- Taking all of the foundation courses at Shenandoah University, where all courses are offered in the summer term between P1 and P2 year.
- Taking the equivalent undergraduate accounting, analytics, economics, and finance courses at a community college and the marketing course at a four-year college or university.
Please note: Your intentions must be discussed with the School of Pharmacy PharmD/MBA Faculty Advisor during the application process and approval must be granted by the School of Business prior to taking any external foundation courses.
Do I get a tuition break while pursuing the MBA degree?
Yes! Your only extra out-of-pocket expense occurs during the summer terms of the program. You will be responsible for the tuition cost associated with 18 of the 36 credit hours of core MBA courses and any required foundation courses. The remaining courses are included in your PharmD program tuition.
The MBA tuition will be discounted approximately 20 percent for students who participate in this program. Additionally, you are eligible to apply for a Graduate Plus Loan to cover both foundation and core MBA courses taken during Summer terms.
Do I get a break in the total credit hours required for each program?
Yes! Nine credit hours are substituted in each program. 3 MBA core courses substitute for 3 PharmD electives (9 credits), 2 PharmD courses substitute for 2 MBA electives (6 credits), and the P4 PharmD/MBA Advanced Pharmacy Practice Experience (APPE) substitutes for the remaining MBA elective (3 credits).
How do I proceed?
- Read the admission requirements located on the program overview page.
- Email the School of Pharmacy PharmD/MBA Faculty Advisor to arrange a meeting to discuss details regarding the application.
- Obtain course descriptions for any courses taken at other colleges/universities that may be considered equivalent to required foundation courses.