Embarking on a journey of profound transformation during the second module of my MBA International Healthcare Management programme at Frankfurt School, I find myself immersed in a rich tapestry of learning. This module, aptly named “Analyse the Business: Financial Management and Controlling,” stands as a cornerstone of our curriculum. It offers an extraordinary platform for delving into the intricate dynamics of healthcare finance and hospital control.
The diversity within our MBA (Class of 2025) certainly played a crucial role in enriching our learning experience. With classmates from 11 different nationalities and a mix of genders, a plethora of perspectives enhanced our discussions, and mutual respect reflected the global nature of healthcare management.
Our journey commenced with an in-depth exploration of finance and hospital controlling fundamentals, guided by the renowned Professor Dr. Jörg Schlüchtermann from the University of Bayreuth, hand in hand with Prof. Dr. Dieter Hess from the University of Cologne. Their insights into controlling and financial management revealed the intricate balance between risk and reward—a fundamental aspect of healthcare management. Interactive sessions allowed us to delve deeper into critical financial tools, such as cash management and working capital management, as well as the intricacies of financing options like bonds and stocks, among others.
A major highlight was our visit to Merck Pharmaceutical in Darmstadt, where we witnessed their unwavering dedication to research and development. This visit brought to life the impact of R&D on shaping the future of healthcare, emphasizing the role of innovation in pharmaceuticals and the complexity of drug development.
Our educational journey further led us to Sachsenhausen Hospital in Frankfurt, offering a comprehensive view of the German healthcare system’s unique challenges. Insights from Mrs. Abir Giacaman, CEO, and Dr. Arun Kumarasamy, the Head of Interventional Radiology, provided a firsthand look at the dynamics of hospital management in Germany.
Our learning was further augmented by guest lectures from industry leaders like Jürgen Sprekelmeyer, CEO of Rheumazentrum Rheinland Pfalz. His journey, from an MBA alumnus to a CEO, provided valuable insights into the practical application of our academic knowledge.
Another integral component of our module was the emphasis on public speaking, led by the dynamic Profr. Dr. Sibbel. He highlighted its importance in leadership, especially within healthcare management. We were challenged to present on various healthcare topics, receiving personalized feedback from Professor Sibbel on content, delivery, and audience engagement, for which I am thankful.
This focus on public speaking, combined with our deep dive into healthcare finance and management, has thoroughly prepared us for the challenges we will face as future leaders in the healthcare industry. Professor Sibbel’s mentorship has been invaluable in equipping us with the confidence and skills to lead with knowledge and eloquence.
Our final assignment involved a comprehensive presentation that integrated our learnings from the entire module. This assignment was more than a test of knowledge; it was a demonstration of our ability to articulate complex concepts confidently and coherently, preparing us for real-world leadership scenarios.
As I anticipate the remaining modules of my MBA, I am enthusiastic about the opportunities to further intertwine healthcare with management principles. The skills and insights gained in this module have laid a solid foundation for my future in healthcare management.
In summary, this module has been a comprehensive journey of learning and self-discovery. The combination of financial acumen, management principles, and public speaking prowess under the guidance of esteemed professors and industry leaders has uniquely positioned us to be the next generation of leaders in the healthcare industry. The Frankfurt School’s commitment to a holistic and applicable education is evident, and the experiences I have gained here are invaluable assets that will undoubtedly shape my professional trajectory.