University College London East launched today (September 29) the world’s first business school dedicated to healthcare and healthcare management. UCL Global Business School for Health will offer its MBA Health, along with other graduate degrees, welcoming its first cohort in September 2022.
Professor Nora Ann Colton has been appointed principal of the school.
“It is such a pleasure to have an opportunity in your career to be entrusted with a concept and to really turn it into something that is actualized and can energize, but also to make such a difference in the world,” said Colton in announcing the launch of the new school.
âI think that’s where business schools will go and need to go. We must be able to develop health professionals, but also health leaders. And we need leaders who can be systems thinkers, innovators, problem solvers. But more importantly, we need people who can break down the barriers that often exist in healthcare between different professional groups, to truly reinvent the management of healthcare. ”
Colton was previously Co-Director of Education at the UCL Institute of Ophthalmology and UCL Pro-Vice Provost of Postgraduate Education.
REIMAGINE GLOBAL HEALTH CARE MANAGEMENT
In most major business schools, MBAs intended to work in the health field represent between 2% and 6% of graduates. Given the importance in everyone’s lives of the biggest health crisis in generations, that could change. UCL wants to be at the forefront of a new movement in management training. The school aims to “increase the global impact of healthcare delivery and transform healthcare access, experience and outcomes globally by empowering future leaders in healthcare management. through high-quality education, âthe school announced, which it will accomplish byâ reimagining the world of healthcare management while solving healthcare challenges from a business perspective.
Within the framework of UCL East in London, the new school will offer executive education, master’s programs such as health policy and practice, and a master’s degree in digital health and entrepreneurship, among other programs. The 12-month Health MBA will focus on real-world business issues in the healthcare industry. It costs Â£ 45,000 (around $ 60,500) and applications open in October.
âWe all have to start and end with people. For patients to get the best service, we need talent, ambition and leadership across the system, âsaid Professor Graham Hart, Co-Director of UCL Health of the Public, who created the new business school. âThis is why UCL is the right place for the Global Business School for Health. We are the World University of London, so our mission is health around the world, not just for the rich countries of the North.
THE WORLD’S FIRST AND ONLY B HEALTHCARE SCHOOL
The school’s launch event on September 29 included remarks from UCL President and Rector Dr Michael Spence; Professor Paola Lettieri, director of UCL Est; and Chris Outram, founder of OC&C Strategy Consultants, who first conceived the idea of ââa business school dedicated to health.
A round table entitled “Transforming the health and healthcare landscape calls for reinventing the management of healthcare” was moderated by Professor Ibrahim Abubakar, Dean of the Faculty of Population Health Sciences at UCL . Speakers included:
- Dr Navina Evans, CEO of Health Education England
- Mark Brinell, President and Partner of Global Health Practice
- Dr Linda Harris, OBE, CEO of Spectrum Community Health in London
- Lord Nigel Crisp, House of Lords
Outram is the founder of OC&C Strategy Consultants who recruit from the best business schools in the world. He first started to think about a business school dedicated to health about six years ago.
FILLING “A MASSIVE GAP IN THE MARKET”
âIt seemed very strange to me that there were some very complex and complicated industry sectors that a business school paid absolutely no attention to, and being a general MBA wouldn’t necessarily help,â says Outram.
Health was one of those industries. Outram recognized the need for a dedicated healthcare program because (1) the industry is extraordinarily complex; (2) each country has its own approach to health care, and most find their approach unsatisfactory; and (3) economically, health accounts for about 10% of global GDP and 18% of GDP in the United States.
That works out to between $ 7 trillion and $ 10,000 billion a year, according to the research study.
âFrankly, I wondered why there wasn’t a business school in the world that really tackled the complexity of these types of institutions,â Outram said. âThere is a huge gap in the market for a world-classâ¦ global business school focused on healthcare. The market, frankly, is wide open and I am delighted that UCL has decided to fill this particular gap.
The timing, Outram concluded, couldn’t be better. First, “building on UCL’s great pedigree in healthcare, there is a huge global need for better leadership and management, as we just demonstrated in the COVID-19 pandemic, “he said. âSecond, there are many potential funders and foundations that have a keen interest in health and improving healthcare in general, whether it’s the Gates Foundation or Amazon if you’ve read the newspapers over the past two weeks. “
Learn more about UCL Global Business School for Health here.
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