Healthcare is one of the world’s largest and fastest growing industries. Globally, it represents more than 10 percent of the gross domestic product of most developed nations—around $6 trillion overall. And the World Health Organization estimates that there are 9.2 million physicians, 19.4 million nurses and midwives, 2.6 million pharmacists, and over 1.3 million community health workers worldwide.
In response to this trend in healthcare growth, the University of Toronto’s Rotman School of Management has launched its new Global Executive MBA in Healthcare and Life Sciences. This addition complements the major in Health Sector Management that is currently available to Rotman full-time, morning, and evening MBA students.
“The health and life sciences sector is the most important industry in the world,” Professor William Mitchell, the co-academic director of the program, said in a press release. “Globally, it has a huge impact on economic development and a huge impact on human life. Our new program will teach general management and leadership skills, with direct application to people working in life sciences and healthcare.”
About the Global Executive MBA in Healthcare and Life Sciences
The Global Executive MBA in Healthcare and Life Sciences is an 18-month program designed to prepare working professionals to lead organizations, businesses, and health systems in the sector. Headquartered on the edge of Toronto’s medical discovery district, the program will leverage the business strengths of the Rotman School as well as the University of Toronto’s close relationship with the global healthcare community.
The program has been designed for personal and professional flexibility and will be offered in six terms that blend on-site learning and online support. EMBA students will spend 75 percent of their time in the classroom and in the field, broken down as follows:
- Term 1: Toronto (2-week residency, fall 2018)
- Term 2: San Francisco (1-week residency, winter 2019)
- Term 3: Toronto (1-week residency, spring 2019)
- Term 4: Singapore (1-week residency, summer 2019)
- Term 5: Toronto (1-week residency, fall 2019)
- Term 6: Toronto (1-week residency, winter 2020)
The curriculum will teach students core management and practical skills required for the healthcare and life sciences sector. Delivered in five modules—three in Toronto, one in San Francisco, and one in Singapore—the program will cover the best practices of health systems and business, strategic insights, data analytics, decision-making, entrepreneurship, and innovation. Faculty will incorporate cutting-edge research, industry examples, case studies, and guest lectures as part of each module.
The goal of the program is to break down the traditional silos that separate healthcare providers, payers, scientists, suppliers, and agencies. By bringing each of these stakeholders together, the program aims to enable EMBA students to better understand how to create patient value and system strength.
Some of the topics and courses that will be covered as part of the Global Executive MBA program include
- Accounting for Healthcare & Life Sciences
- Design Thinking in Healthcare & Life Sciences
- Governance and Partnering in Healthcare & Life Sciences
- Integrating Models & Data in Healthcare & Life Sciences
- Immersion in Innovative Health & Life Sciences Organizations & Systems in Toronto, the San Francisco Bay Area, and Singapore
Professor Brian R. Golden, vice dean of MBA programs and co-academic director of the program, said, “The program will focus on the most effective ways of organizing industries, whether in the public sector or the private sector, to deliver the best healthcare and to make it more affordable.”
The EMBA program is designed for experienced mid- to senior-level professionals, particularly managers, administrators, clinicians, and scientists. Applicants should have a background working in life science firms, service delivery organizations, or agencies in the healthcare and life sciences sector.
To apply, applicants should have eight years of full-time work experience and must complete the GMAT/GRE or Rotman Executive Diagnostic Test, a replacement for the GMAT, as well as the program application, which will be available in September 2017.
The cost of the program—including tuition, program materials, class-day meals, and accommodation for Toronto modules—is $90,564 USD or $113,775 Canadian dollars.
The Rotman School will begin accepting applications in September 2017 for a fall 2018 start date. More admissions details and application information will be available closer to the application deadline.