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PharmD/MBA for Pre-pharmacy clubs JUN 16 (CSU_Stan)

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This version is specific to the CSU Stanislaus. It is a slightly revised version of a presentation to the Prepharmacy Club.

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PharmD/MBA for Pre-pharmacy clubs JUN 16 (CSU_Stan)

  1. 1. START HERE. GO ANYWHERE. go.pacific.edu/mba University of the Pacific PharmD/MBA Programs June 1, 2016 Presenter: Chris Lozano Eberhardt School Director of Student Recruitment clozano@pacific.edu
  2. 2. Why MBA?  Practical leadership and management skills  “Still in very scarce supply” (Harvard Business Review, 2014)  Access to learning community and alumni network  GMAC 2014 MBA graduate survey:  92% say MBA prepared them for leadership positions  88% say MBA prepared them for their career  82% say MBA prepared them to manage work/life balance  71% say MBA allowed them to achieve an otherwise unattainable career outcome (GMAC, 2014)  Professionally, financially, and personally rewarding
  3. 3. PharmD/MBA Offers Differentiation Quick fact: Although demand is expected to grow fast (25%+), supply is growing due to more Pharmacy Schools (29%) and therefore more graduates (46% increase from 2004-’11) PharmD/MBA Signals interest, knowledge and commitment to management Compensation one year after graduation was found to be 15% higher* MBA aan be completed in one additional year Financial assistance often available For more information on PharmD/MBA schedules: Pacific web page: go.pacific.edu/pharmd-mba *source: Impact of a Dual PharmD/MBA Degree on Graduates' Academic Performance, Career Opportunities, and Earning Potential , Elinor Chumney, Kelly Ragucci and Kathy Jones, American Journal of Pharmaceutical Education. April 2008.
  4. 4. Key questions about PharmD/MBA  Programs  What are the Program options for PharmD/MBA?  Application and Admissions  Can we take the GRE instead of GMAT?  Do we need to have all of our prerequisite classes completed before we can apply for the program?  Cost & Financial Assistance  What is the total cost of tuition for the 1 year of MBA in dual degree PharmD/MBA ?  What types of merit-based financial assistance is available?  Other Areas  What New (job) opportunities would an MBA provide to a Pharmacist?
  5. 5. LinkedIn: Great Resource for Pacific PharmD/MBA Network  Other interesting profiles: Christine Ahn ‘11- Director, Value-based Care Redesign (UCLA Health), Mahan Patel ’09 ’10 - National Clinical Director (PharMerica), Erik Clausen ‘07 ‘08 - Director of Veterinary Operations (Golden Gate Pharmacy) and Jonathan “JK” Fujimoto ‘09 –
  6. 6. Christine Nguyen ’10 PharmD/MBA  Vice President, Trade Relations at EnvisionRx Options  Envision is a Pharmacy Benefits Management (PBM) Company  Envision was recently acquired by RiteAid and recently acquired MedTrak  Christine’s Key Responsibilities:  Manages manufacturer contracts and rebate administration operations  Coordinates Pharmacy benefits for companies as a 3rd Party administrator  Leverages relationships with drug manufacturers like Astra Zeneca and Pfizer to provide drug cost savings and key disease management programs for company partners  Benefits of PharmD/MBA Acc. to Christine  MBA opened doors otherwise not available to her (outside of clinical)
  7. 7. Raj Ghandi- PharmD ‘09/MBA ‘10  Senior Pharmacy Manager at United HealthCare Alliance (UHA)  UHA is a Physician Network and medical foundation partnered with Stanford Healthcare and Stanford Medicine  Raj’s Key Responsibilities:  Developing, Implementing, Managing and Assessing Medicare Advantage pharmacy utilization management programs to improve quality and cost- effectiveness  Formerly at MedImpact as Clinical Program Manager he optimized clinical quality and cost-effectiveness for MedImpact clients. Also, created analytics of claims data and performance indicators to identify and promote performance improvement opportunities.  Other Keys to Raj’s Success  Completed a 1 year Managed Care Residency after completing PharmD and before completing MBA
  8. 8. Prerequisites  Microeconomics (Econ 53 at UOP)* - Econ 2510 at CSU Stanislaus  Macroeconomics (Econ 55 at UOP)* - Econ 2500 at CSU Stanislaus  Probability and Statistics (Math 37 at UOP)* - Math 1600 at CSU Stanislaus  Business or General Calculus (Math 45 at UOP)* - Math 1410 at CSU Stanislaus  Completion of a Bachelor’s Degree (U.S. or equivalent)  Suggested electives (based on space in your schedule) *AP units or equivalent courses at a CC or Online are also acceptable
  9. 9. Traditional PharmD/MBA Option (A): Applied Business Principles for Pharmacy + Healthcare Elective Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 MODULES+HCCourse-17UnitsTotal MBAOrientation Mgmt. Info. Systems MW 11:00-11:45 am AssessmentTesting Mgmt. & Org. Behavior TR 12:30-3:00 pm Marketing TR 12:00-2:30 pm Accounting for Managers MW 3:30 – 6:00 pm Finance MW 4:00-6:30 pm Data and Decisions TR 12:30-3:00 pm Healthcare Elective Times vary, typically late morning Career Development (Not Required for PharmD/MBA) T 10:00-11:30 am Associate Dean’s Seminar T 6:30-8:30 pm
  10. 10. Career Management Services for MBAs  MBA Career Development Module  Individual Career Management Planning with a dedicated career services professional  Required MBA Internship for Accelerated MBA program except for Dual-degree Programs  Focus on mastering critical tactical skills necessary for career success and to manage your career pathway
  11. 11. Remaining MBA courses for Pharmacy Spring Term- MBA 18 Units* May-Jun Jun-Aug 2nd year Pharm- Fall/Spring/Sum. Term Healthcare Finance/ Insurance Strategy Implementation Global Marketing Global Business Competition (Units in Spring Term Registration)* Recommended MBA Internship Healthcare Area elective Entrepreneurial Management Quality & Productivity 1 Healthcare Area Elective
  12. 12. International Experience Each year, the Global Business Competition course travels abroad for a two-week period of intensive instruction and business visits. 2009 - Panama and Costa Rica 2010 - London, England 2011 - Istanbul, Turkey 2012 - Shanghai and Beijing 2013 - Shanghai and Hong Kong 2014 - Istanbul & Izmir, Turkey 2015 - Toulouse, France 2016 – La Havre, Dijon and Paris, France 1997 - Singapore and Malaysia 1998 - Chile 1999 - Spain 2000 - Ireland 2001 - U.K. and France 2002 - Estonia and Finland 2003 to 2005 - E.M. Lyon 2006 & 2007 - Taipei, Taiwan 2008 - Taiwan and Hong Kong
  13. 13. How and When to Apply  Complete PharmCAS and Pharmacy Supplemental applications for earliest possible tier.  Online Application available at Eberhardt MBA website beginning October 15, 2016.  Key Application Dates Fall 2017 Round 1 - January 15 (FT Priority Review) Round 2 - March 1 (FT MBA – All Programs) Round 3* - June 1 (FT MBA late submission)
  14. 14. APPLICATION ELEMENTS  Online MBA Application, 2 Personal Statements and Resume (Same system as Pharmacy Supplemental app.)  Official Transcripts (Pulled from PharmCAS app.)  Letters of Recommendation (2 recommended)  Official GMAT (or GRE) Scores  Application Fee - $50 (waived for ALL PharmCAS applicants)  Interview (by invitation only)
  15. 15. 2015 New FT MBA Student Profile  GPA Average: 3.41 (Range 3.12 - 3.73)  GMAT Average: 560 (Range 460 - 640)  Average Age: 23.0 (Range 20 to 25)  Average Experience: 1.0 years (Range 0 to 3)  International: 18% (Up from 17% in ‘14)  Female: 55% (Up from 50% in ‘14)
  16. 16. 16-month Total Program Costs (AY 2015 - 16) Tuition- $1,325/unit** $ 63,636.00 Wellness Center Fee (9+) $ 360.00 ASUOP & Activity Fees (9+) $ 420.00 Travel – Global course (est.)* $ 3,500.00 Books & Personal (est.)* $ 7,500.00 TOTAL COSTS $ 75, 416.00 *Costs vary by location and required texts. **MBA year tuition and fee expenses for PhramD/MBA are approx. $48,000 (36 units).
  17. 17. Scholarships and Assistantships  Eberhardt Merit Scholarships  Joseph Kaeslin Memorial Endowed Scholarship  Edward M. Nagel Scholarships  Robert and Frances Ferguson MBA Endowed Scholarship  Credit Bureau of San Joaquin Endowed Scholarship  Marian & George Malloy Endowed MBA Scholarship  PharmD/MBA Merit-Based Scholarship  Long Foundation(s) scholarships for PharmD/MBA Students  MBA Merit-Based Graduate Assistantships  1/3 Tuition Assistantship  1/2 Tuition Eberhardt Scholars Assistantship  Private Scholarships  ACHE – Albert W. Dent and Foster G. McGaw scholarships (ache.org.Students)
  18. 18. Time for some Q & A
  19. 19. For more information Call: 209.946.2629 or 800.952.3179 E-mail: mba@pacific.edu Web: go.pacific.edu/mba Office: Weber Hall, Suite 206
  20. 20. START HERE. GO ANYWHERE. go.pacific.edu/mba Eberhardt School of Business

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