Earning an executive-style MBA is an investment of your time, finances, and—sometimes—travel. We know you are a busy physician who may benefit from consulting with our team to plan your path to the Physician MBA. We break down the cost of the Physician MBA: what’s included, and how to pay for it.
Invest in the next step in your medical career
What’s included in the Physician MBA
A physician-only program from a top-ranked business school is a unique offering. We set ourselves apart by:
- Awarding continuing medical education (CME) credits each quarter, which can go toward tuition.
- Offering you ongoing, one-on-one executive coaching throughout the 21-month program, which typically costs about $750 per hour.
- Delivering curriculum uniquely designed for physicians with topics at the intersection of business and healthcare.
You will travel to Indianapolis each quarter for in-person classes, which amounts to 31 days total. While students are responsible for their accommodations during these residency sessions, the program arranges a block of hotel rooms at the JW Marriott Indianapolis at excellent rates.
Compare our program to other executive MBAs and review all the costs included using our price comparison tool.
Tuition
The Physician MBA costs approximately $99,000 for the 21-month program. Depending on where you live, travel costs may be an additional $7,000 to $10,000. While this is an investment, the Physician MBA Program is priced well below the average cost of a top-ranked executive MBA in the Midwest, which is about $133,000.
| Tuition | $99,000 |
| Travel expenses | Zero to $10,000 (location dependent) |
| Total cost | $109,000 |
How to pay for your MBA
Most of our students use a combination of funding sources to pay tuition for the Physician MBA Program. Tuition can be billed quarterly or monthly using:
CME credits are awarded for every hour you spend in class session. The 21 months of this program span three calendar years, allowing you to apply three years’ worth of CME credits toward tuition. This program is the only physician MBA offering CMEs each quarter, allowing you to apply a maximum of about $15,000 in CME credits toward your tuition.
CME credits are administered through Indiana University's Office of Continuing Education in Healthcare Professions. If your organization sponsors your CME activities, you can use these resources toward tuition for the Business of Medicine MBA. Tax benefits can apply, so you should discuss this option with your tax professional.
Many organizations offer tuition benefits of about $5,250 per year. Since this program spans three calendar years, employer tuition benefit has the potential to pay about $15,000 toward your degree.
As you invest in yourself, you are also improving the healthcare system around you. Review your employer’s tuition benefits, and talk with 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 21 months to strengthen your leadership capabilities and create your own leadership plan.
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.
We offer a limited number of partial tuition scholarships. All admitted Physician MBA students are invited to apply for the Physician MBA Tuition Scholarship. Applicants are reviewed on a rolling basis for possible scholarship, regardless of financial need, and will be notified of the decision within three to four weeks after receipt of application.
A Physician MBA Tuition Scholarship cannot be combined with any other Physician MBA scholarships.
Scholarships are awarded based on:
- Academic performance
- Professional performance and experiences
- Personal achievements
- Career achievements
- Application strength
- Geographic location
- Organizational affiliations
Apply for the Kelley 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 this fellowship, 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.
Only admitted physicians may apply, and applications are due by July 1. This fellowship is awarded by August 15.
Several of our physician students use GI Bill benefits to pay for this program. Military tuition benefits and support include:
Yellow Ribbon 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.
- 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.
- $1,000 per year for books.
Learn more about the Yellow Ribbon Program
VA’s GI Bill® Comparison Tool
Use the VA’s GI Bill® Comparison Tool to calculate available funding. Be sure to select the Indiana 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.
Whether you have leftover funds from your children or you’ve invested in your own future training, you can use a 529 college savings plan to pay your tuition.
Want to talk?
If you still have questions about the cost of our program or how to pay for it, schedule a time to speak with our program director, Susannah Eastwick.
