When you enroll in the Physician MBA Program at the Kelley School of Business, you’re paying for more than an MBA at a top-ranked school. You can apply your newfound business knowledge in real time and provide your organization with healthcare consultant insight—at a fraction of the cost to hire one. By pairing your medical background and institutional knowledge with the Kelley School’s innovative curriculum, you are well positioned to be a change agent.
It pays to be your organization’s in-house consultant.
Michael Schifano, DO, MBA’17 | Obstetrician-Gynecologist and CEO of Heartland Women's Healthcare The savings gained from the new inventory management system I created during my MBA covered the cost of my tuition, without question. It has made a huge impact on my organization.
More than a degree.
Our tuition includes more than simply courses. The Physician MBA Program provides a more comprehensive package than any other MBA of this kind. Tuition includes:
- Executive coaching
- Executive leadership lecture series
- Primer courses
- Technology and advising support
- CME administration
- Networking events
- Organizational projects with expert faculty consultants
- Meals and snacks during residencies
- A lifetime of learning, networking and alumni activities
The total tuition for 21 months is an estimated $99,000 ($49,000 per year).
Tuition in the Kelley Physician MBA for 2024-2025 is $1,834 per credit hour. The program is 51 credit hours, and physicians are enrolled in approximately 25.5 credit hours per year. Tuition is charged on a quarterly basis, based on the specific credit hours enrolled during the term. A $500 non-refundable, non-transferable tuition deposit is required upon your acceptance of admission to the program. This program bills over three calendar years.
Continuing Medical Education (CME) Funding
Continuing Medical Education (CME) credits are awarded for every hour you spend in class session. CME credits are administered through Indiana University's School of Medicine Division of Continuing Medicine Education. If your organization sponsors your CME activities, you can use these resources to help pay for the Business of Medicine MBA. Additionally, the same tax benefits can apply, talk with your tax professional.
Funding your degree.
There are a variety of payment plan options available for funding tuition and fees, including payment in full, third-party payment, annual payments, quarterly payments and monthly payments. At minimum, tuition must be paid by the 10th of each month. More information on the deferred payment option is available through the Bursar. For pre-payment information, contact the Kelley Business of Medicine office at kbizmed@iu.edu or 317-274-3855.
For questions about financial aid options please contact Student Financial Services at gradaid@iu.edu or 317-274-4162. For the latest information on financial aid, visit the IU Indianapolis financial aid website.
Scholarships
The Kelley School of Business offers a limited number of partial tuition scholarships. All admitted Physician MBA students are invited to apply for the Kelley School Scholarship, and applicants are reviewed for possible scholarship regardless of financial need. Applications are reviewed on a rolling basis, and applicants are notified of the decision within two to four weeks of receipt of application.
Scholarships are awarded based on:
- Academic performance
- Professional performance and experiences
- Personal achievements
- Career achievements
- Application strength
- Geographic location
- Organizational affiliations
Apply for the BoM Physician MBA Tuition Scholarship.
Hall, Render, Killian, Heath & Lyman, P.C., a national health law firm, supports graduate fellowships for students studying in the Kelley Physician MBA Program. Through its support, Hall Render continues its commitment to excellence in healthcare, marshaling talents of extraordinary students to serve patients in need. The Hall Render Fellowship is awarded annually to one outstanding physician based on their background, experience, and potential to be a leader in the healthcare industry. Preference will be given to students who work with an underserved population. Recipients receive $7,500 annually. Applications are accepted from admitted physicians only and are due by July 1. This fellowship is awarded by August 15.
Our corporate partners help to ensure that the ranks of innovative Kelley leaders in healthcare continue to grow. Additional corporate sponsorships are available. If you would like to sponsor a scholarship that enables a new generation of Kelley Physician MBA leaders, contact Bryan Melvin, executive director, Office of Development and Engagement, at brmelvin@iu.edu.
Employer Sponsorship
As you make an investment in yourself, you are also changing the healthcare system around you. Review your employer’s tuition benefits, and talk to your leadership about sponsoring your degree based on the significant consulting benefits you will provide in return.
During this program, you analyze data from your organization and identify viable solutions to ongoing challenges. Your organization will experience a significant return on investment by financially matching the time and energy you are putting into becoming an expert, in-house consultant. Traditionally, such roles cost significantly more than the tuition for this degree, during which you will:
- Earn a Lean Six Sigma Green Belt certification in process improvement
- Use analytics to solve real challenges
- Gain access to business leaders who share cutting-edge intel on healthcare issues across the industry
- Examine customer experience within your organization
- Study current financial statements
- Complete a process improvement project
- Propose a legal solution that could impact your organization
- Create an organizational change plan for driving transformation in your workplace
- Partner with an executive coach for nine months to strengthen your leadership capabilities and create your own leadership plan
U.S. Military Programs
Several of our physician students use GI Bill benefits to pay for this program.
Our participation in the Yellow Ribbon Program means you have no out-of-pocket costs if you have full post-9/11 benefits (Chapter 33). These benefits cover:
- The entire cost of the program’s tuition and fees (approximately $86,000).
- A monthly housing allowance of approximately $1,374 per month for the duration of the program. Our physician students use the housing stipend to cover their travel costs for monthly in-person class sessions.
- $1000 per year for books.
Use the VA’s GI Bill® Comparison Tool to calculate available funding. Be sure to select the Indiana University-Purdue University Indianapolis campus in the pull-down menu, and choose in-person classes because 51% of your time is spent in the classroom.
Contact our Office for Veterans and Military Personnel at 317-278-9163 or gibenefi@iu.edu for assistance in getting started and working through the process efficiently.