Transcript MBA Pharmaceutical Marketing and Management

MBA in Pharmaceutical Marketing and Management: A Pharmacy and Graduate
Business School Collaboration Model
Fadi M. Alkhateeb, BSPharm, M.B.A., Ph.D., David A. Latif, Ph.D., Jennifer Snell, Pharm.D.
School of Pharmacy, University of Charleston, Charleston, WV
Background
Although many schools now offer dual
PharmD/MBA (Masters of Business
Administration) or MBA standalone
programs, very few of them offer an MBA
that specializes in Pharmaceutical
Marketing and Management.
Objectives
The objectives of this exploratory study
were to (1) review the available literature
on the MBA programs that are related to
pharmacy and (2) investigate
pharmacists’ perceptions and
expectations about pursuing MBA
degrees (Focus, type and program
setting).
Methods
For the first objective, articles were
identified via searches of PubMed and IPA
from inception to March 2011 related to
MBA programs for pharmacists.
Programs at seven colleges/universities in
the United States were examined and
compared regarding curriculum,
duration/flexibility, pharmacy-related
coursework, and hands-on training.
For the second objective, pharmacist
perception of the MBA programs was
evaluated through an online survey of a
sample of 150 pharmacists working with
University of Charleston School of
Pharmacy as clinical preceptors in West
Virginia.
Discussion
Results
Of the 150 mailed surveys, 30 were returned as undeliverable. A total of 57
responses were received giving a response rate of 47.5%.
Table 1. Comparison between the programs that offer MBA in Pharmaceutical Marketing & Management
Total
Average
Cost
University Name
Credit
hours
Mode of instruction
SJU: MBA in Pharmaceutical Marketing
$71,000
48
Online / campus EMBA
Drexel: MBA Pharmaceutical Management
$54,000
51
Mixed
University of Colorado: MBA in Health Administration
with Pharmaceutical Management option
Rutgers: MBA in Pharmaceutical Management
$48,000
48
Mixed
$ 75,000
60
Campus
FDU: MBA in Pharmaceutical Management
$70,000
51
Campus
Aspen University: MBA in Pharmaceutical
Management & Marketing
$8,000
36
Online
University of Sciences in Philadelphia (USP): MBA in
Pharmaceutical & healthcare Business
$76,000
38
Mixed
Characteristics
Degree
BSc
Pharm.D
Both degrees
Practice setting
Community (Chain or
Independent)
Hospital Pharmacy
Other
Pharmacist position a
Staff Pharmacist
PIC
Manager or director
Gender
Male
Female
Possible Reimburse by
employer for tuition/ fees a
Yes (Full)
Yes (partially)
No
a: significant at P< 0.05
Want
MBA
Do not
want
MBA
Total
10 (31.2)
7 (36.8)
2 (40)
22 (68.8)
12 (63.2)
3 (60)
32
19
5
7 (25.9)
20 (74.1)
27
12 (44.4)
0
15 (55.6)
2
27
2
1 (8.3)
2 (14.3)
14 (60.9)
11 (91.7)
12 (85.7)
9 (39.1)
12
14
23
11 (36.7)
8 (33.3)
19 (63.3)
16 (66.7)
30
24
0
9 (69.2)
10 (37.0)
0
4 (30.8)
17 (73.0)
0
13
27
Characteristics
Nature of the program
Evening
Weekends
Full time
Specialization
General MBA
Pharm Marketing
Pharm Manag
Health admin or
Healthcare
Type of courses
wanted in the MBA
program
Accounting
Finance
Marketing
Pharmacoeconom
Management
The majority of the respondents
expressed their interest in the online,
evening and weekend MBA programs.
Pharmacists also expressed their interest
in MBA programs that focus on
Management and finance courses and, to
a lesser extent on marketing and
pharmacoeconomics topics
Table 3: Respondents preferences regarding
the MBA programs features
Table 2: Descriptive characteristics for the respondents
Most pharmacists preferred MBA
programs that are related to healthcare or
pharmacy area (66%) over general MBA
programs (33%).
Freq(Percen
tage %)
21 (58.3)
15 (41.7)
0 (0)
15 (33.3)
0 (0)
9 (20.0)
21 (46.7)
27 (71.1)
32 (84.2)
16 (42.1)
22 (58.0)
32 (84.2)
The Capstone Project is a common
component of most MBA programs that
allows students to apply knowledge and
skills to an actual work environment
Conclusion
This study provides insight for academic
programs that offer the MBA in Pharmacy
or dual PharmD /MBA programs
regarding useful parameters for
evaluating their students’ educational and
professional capabilities.
It may guide curricular revisions, leading
to a more broadly educated pharmacist
who is better prepared for management
positions in the pharmaceutical and
healthcare industry.
Questions?
Fadi M. Alkhateeb, Associate Professor College of Pharmacy University of
Charleston, Charleston, WV 25304. Tel: + 1 304 357 4350 Fax: + 1 304 357
4868. e-mail: [email protected]
ADDRESS QUESTIONS TO:
clauson@nova.