Medical Industry Program

The Carlson School of Management and other colleges at the University of Minnesota offer a wide variety of courses intended to enhance understanding of the medical industry and to prepare students for successful and rewarding careers. Specifically, the courses enable students to:

  • Understand the landscape of the entire medical industry in preparation for leading initiatives with a broad impact in business and society
  • Engage in detailed analysis of specific topics, firms, and industry sub-sectors
  • Study with leading scholars engaged in cutting-edge research on topics of significant relevance to the medical industry in partnership with firms located in the Twin Cities and around the world
  • Develop skills and knowledge through supervised and hands-on experiential learning opportunities aimed at preparing graduates to hit the ground running in leadership tracks of premier firms

If you are not a Carlson School student, please refer to the non-MBA student course petition overview.

MILI Specialization

Current Carlson MBA students can complement their MBA education with a medical industry specialization. Once students complete the specialization, they are also able to further participate by becoming an Institute affiliate. MILI gives students opportunities to prepare for leadership track careers in functional areas of the medical industry including finance, marketing, consulting, operations, and information technology. Specific courses at the Carlson School draw on the University faculty’s significant scientific, technical, policy, legal, and ethics expertise relevant to the medical industry.

In addition to the Carlson School requirements, students interested in earning a medical industry specialization must complete:

  • MILI 6990: The Healthcare Marketplace
  • An experiential learning option with work in the medical industry (see Experiential Learning below)
  • One additional MILI course or other medical industry related elective (see Curriculum below)
  • Specialization Application

Experiential Learning

Experiential learning is a distinguishing feature of Carlson's MBA program. The medical industry is the focus of up to 40% of experiential learning projects in the Carlson Enterprise programs (Brand, Consulting, Ventures, Funds), and the New Product and Business Development course. Also included is the Medical Industry Valuation Laboratory course, which uses an interdisciplinary and intercollegiate approach to provide market analysis of promising medical technologies and services. These experiential learning opportunities distinguish the Carlson MBA for multiple career goals in fields such as medical technology, insurance, consulting, investment banking, and delivery.

Experiential learning options that will fulfill the above specialization requirement are:*

  • MILI 6995: Medical Industry Valuation Laboratory
  • MILI 6589: Medical Technology Evaluation and Market Research
    • Leaders from UnitedHealth Group, Medtronic, and the Mayo Clinic participate in this hands-on experience in creating a value proposition for new medical technologies.  This course is also offered as a 2 cr. undergraduate seminar (MILI 5589)  (Spring  3:45-5:25 PM)
  • ENTR6041/OMS6061: New Product and Business Development with project work in the medical industry
  • Carlson Enterprise (Brand, Consulting, Ventures, Funds) with project work in the medical industry

For other specific questions on fulfilling the experiential learning requirement, please email: mili@umn.edu.

*Other courses may be accepted if pre-approved by Institute Director.

Medical Industry Curriculum

Carlson School Specialized MBA Electives on the Medical Industry

*Any non-Carlson student that wants to enroll in a MILI course must complete a brief online form to petition into the class. The form can be found here.

  • MILI 6995: Medical Industry Valuation Laboratory
    • Hands on experience in succinctly evaluating the value of a new technology by considering market size and potential, intellectual property, and return on investment. Intercollegiate teams create rapid production market analysis of promising medical technologies and services to determine potential for success in market. Teams consist of students from Carlson, CLA, CSE and AHC. Exposure to University innovations, venture firms, inventors. This course is also offered by application only as a 2 cr. undergraduate semester-long seminar (MILI5995) (Fall/Spring/Summer)
  • MILI 6992: Healthcare Delivery Innovations: Optimizing Cost and Quality
    • Understand the various sites of healthcare delivery that exist in order to analyze how the components along the care continuum, currently fit together and more importantly explore how they can be reconfigured and re-engineered to create value. (Fall B Term 5:45-9:05 PM)
  • MILI 6990: The Healthcare Marketplace*
    • Survey of multitrillion dollar medical industry, this course covers physician and hospital services, insurance, pharmaceuticals, medical devices, information technology, and industry scale, interactions, opportunities, and barriers. This course is also offered as a 3 cr. undergraduate seminar in spring (MILI5990 or HSEM 3404H) ( Fall and Spring - A Term 5:45 -9:05 PM)
  • MILI 6991: Anatomy and Physiology for Managers
    • A basic overview of the medical vocabulary and physiology of major body systems for non-clinician managers, this course helps medical industry leaders gain facility with clinical practice and medical technology innovations. (Spring - B Term 5:45-9:05 PM)
  • MILI 6589 Medical Technology Evaluation & Market Research
  • MILI 6235 Pharmaceutical Industry
    • Focusing on the unique characteristics of the pharmaceutical industry, including its market, regulation, and policy issues, this course leverages interdisciplinary perspectives and industry leader involvement to develop student skill sets. (Spring - B term 5:45-9:05 PM)
  • MILI 6726 Medical Device Industry
    • This course, with the insight of industry leaders, addresses public-private sector interactions and the business, public policy, regulatory, and technology management issues that concern medical device and biotechnology companies. (Fall 5:45-8:15 PM)
  • MILI 6562 Information Technology in Healthcare
    • This course provides a theoretical and conceptual base for managers, creators, and evaluators of health care information technology, including the application of current and evolving technology systems. Special attention is paid to the design and evaluation of common data structures. (Fall - B Term 5:45 -9:05 PM)
  • MILI 6999 Independent Study

*This course is required to get a medical industry specialization. Requirement waiver may be granted at the discretion of the institute staff.

Carlson School MBA Experiential Learning Courses - Carlson Enterprises

  • MBA 6501 Carlson Funds Enterprise: Growth
  • MBA 6502 Carlson Funds Enterprise: Fixed Income
  • MBA 6503 Carlson Ventures Enterprise
  • MBA 6504 Carlson Consulting Enterprise
  • MBA 6990 MBA Topics (Carlson Brand Enterprise)
  • OMS 6061-6062/ENTR 6041-6042 New Product Design and Business Development
  • OMS 6850 Topics in Operations and Management Science (Six Sigma Methodology)

Carlson School MBA Electives Relevant to the Medical Industry

  • FINA 6241 Corporate Finance Analysis and Decisions
  • IDSc 6401 Decision Technologies
  • IDSc 6421 Financial Information Systems and Technology
  • IDSc 6423 Enterprise Systems
  • IDSc 6490 Business Process Excellence
  • MBA 6315 Ethical Environment of Business OR
  • IBUS 6315 The Ethical Environment of International Business
  • MGMT 6004 Negotiation Strategies
  • MGMT 6050 Management of Innovation and Change
  • MGMT 6305 International Environment of Business
  • MKTG 6073 Technology Marketing
  • MKTG 6051 Market Research
  • OMS 6059 Quality Management and Six Sigma
  • OMS 6056 Managing Supply Chain Operations
  • OMS 6072 Managing Technologies in the Supply Chain
  • OMS 6041 Project Management

Selected University of Minnesota Courses Relevant to the Medical Industry

This is a representative sample of courses offered recently at the University of Minnesota. Current offerings may vary. For specific information on courses outside of the Carlson School of Management, please consult the University of Minnesota Course Catalog. Prerequisites may apply. Contact appropriate program graduate advisor or instructor. Note that MBA students can apply only 8 non-CSOM credits toward their MBA degree; prior authorization from MBA program is required.

  • Agriculture, Food and Environmental Sciences
    • FSCN 5411 Food Biotechnology
  • Biomedical Engineering
    • BMEn 5151 Intro to BioMEMS and Medical Microdevices
    • BMEn 4001 Biomedical Engineering Design
  • Ethics
    • LAW 6875 Seminar: Law, Health, and Life Sciences
    • MED 7598 Biomedical Ethics (Independent study)
    • PHIL 5325 Biomedical Ethics
    • PUBH 6741 Ethics in Public Health: Professional Practice and Policy
    • PUBH 6742 Ethics in Public Health: Research and Policy
    • PUBH 6801 Health and Human Rights
  • Gerontology/Long-Term Care
    • GERO 5110 Biology of Aging
    • GERO 5111 Studying Aging and Chronic Illness
    • PUBH 8803 Long-Term Care: Principles, Programs, & Policies
  • Global Health
    • PUBH 6780 International Health Systems: Tools for Program Development and Evaluation
    • PUBH 6730 International Comparative Health Systems
    • PUBH 6732 Topics & Methods in Global Health Assessment
  • Health Informatics
    • HINF 5436 Health Informatics Seminars (see Institute for Health Informatics Seminar Series)
    • HINF 5430 Health Informatics
    • HINF 5494 Topics in Health Informatics
    • HINF 8405 Advanced Topics in Health Computer Sciences I
    • HINF 8406 Advanced Topics in Health Computer Sciences II
    • HINF 8434 Medical Decision Support Techniques
    • PUBH 6802 Managing Electronic Healthcare Information
  • Health Policy/Economics
    • PUBH 3801 Economics and Policy
    • ECON 5890 / PUBH 6832 Economics of the Health-Care System
    • PUBH 6555 Topics in Health Economics
    • PUBH 6557/6558 Healthcare Finance
    • PUBH 6564 Managed Care
    • PUBH 6700 Foundations of Public Health
    • PUBH 6717 Decision Analysis for Healthcare
    • PUBH 6845 Using Demographic Data for Policy Analysis
    • PUBH 6861 Health Insurance
    • PUBH 8801 Seminar: Health Policy Analysis
    • PUBH 8813 Measurement of Health-Related Social Factors
  • Healthcare Administration
    • PUBH 6551 Contemporary Issues in Healthcare Administration
    • PUBH 6563 Integrated Delivery Systems
    • PUBH 6570 Managing Healthcare Organizations: International Perspectives
    • PUBH 6724 The US Healthcare System and Public Health
    • PUBH 6727 Health Leadership and Effecting Change
    • PUB 6780 Management for Clinical Research
    • PUBH 6568 Interprofessional Teamwork in Healthcare
    • PUBH 6806 Principles of Public Health Research
    • PUBH 7584 Healthcare and Medical Needs
    • PUBH 8805 Sociological Theory in Health Services Research
  • Healthcare Journalism
    • JOUR 5541 Mass Communication and Public Health
  • Industrial Engineering
    • IE 5545 Decision Analysis
  • Law
    • LAW SEMINAR Managed Healthcare Seminar
    • LAW 6605 Health Law
    • LAW SEMINAR Health Law
    • LAW 6821 Food Drug Law Seminar
    • LAW SEMINAR Healthcare Transactions Seminar
    • LAW SEMINAR Privacy Seminar
    • LAW Employee Benefits
    • LAW Insurance
  • Medical Terminology
    • PHAR 1002 Health Sciences Terminology (Self-study)
    • PHAR 5201 Health Sciences Applied Terminology (Self-study)
    • Public Affairs
    • PA 5701 Science and State
    • PA 5711 Science and Technology Policy
  • Pharmacy
    • PHAR 1001 Orientation to Pharmacy (Online)
    • PHAR 1002 Health Sciences Terminology
    • PHAR 1003 Nonprescription Medications and Self Care: Treating minor Conditions
    • PHAR 1004 Common Prescription Drugs and Diseases (Online; Self study)
    • PHAR 3700 Directed Studies: Fundamentals of Pharmacotherapy
    • PHAR 4200/5200 Drugs and the U.S. Healthcare System
    • PHM 5200 New Drug Development Process
    • PHAR 5201 Health Sciences Applied Terminology
    • PHAR 5700 Directed Studies: Applied Fundamentals of Pharacotherapy
  • Physiology
    • PHSL 5510 Advanced Cardiac Physiology & Anatomy
    • PHSL 5511 Advanced Neuromuscular Junction Physiology
    • PHSL 5520 Applied Pulmonary Mechanics: Basic Principles
    • PHSL 5530 Physiology of Drug Absorption, Distribution and Elimination
    • PHSL 5525 Anatomy and Physiology of the Pelvis and Urinary System

  • Quality
    • PUBH 6560 Operations Research and Quality in Healthcare
    • PUBH 6765 Continuous Quality Improvement
    • PUBH 6863 Understanding Healthcare Quality
  • Writing Studies
    • WRIT 1152W Writing on Issues of Science and Technology
    • WRIT 3401 Internet Communication: Tools and Issues
    • WRIT 3562W Technical and Professional Writing
    • WRIT 3577W Rhetoric, Technology, and the Internet
    • WRIT 4258 Information-Gathering Techniques in Scientific &Technical Communication
    • WRIT 4431 Intersections of Scientific &Technical Communication and Law
    • WRIT 4562 Theory &Practice in International Business Communication
    • WRIT 5664 Science Writing for Popular Audiences

Carl Platou Leadership Competition

The Medical Industry Leadership Institute hosts an exciting opportunity for current MBA students to participate in an annual leadership competition that honors the legacy of MILI partner, the late Carl N. Platou.

Carl N. Platou was a visionary healthcare executive who was inducted into the 2009 Minnesota Business Hall of Fame. The Leadership Competition, created in his honor, was established to recognize the leadership skills and innovative thinking of an elite group of students who plan to complement their MBA education with a medical industry specialization.

Evoking Mr. Platou's inspirational vision and leadership in the medical industry, the competition rewards three MBA students who have displayed strong leadership capabilities and innovative thinking throughout their time with the Carlson School’s MBA program.

Submitted through peer nominations, an external review committee determines the award winners and presents $2,000 for 1st place; $1,000 for 2nd place; and $500 for 3rd place.

The Medical Industry Leadership Institute invites nominations from faculty, staff, and students.

To nominate an individual for an award, please complete this form and email this form to mili@umn.edu.

Nominations must be submitted between Monday, September 16 and Monday, October 14. Finalists will be announced mid-November

 

Executive Education Medical Industry Leadership Programs

MILI's Executive Education program offers professionals the chance to hone their skillset, whether considering a shift in career concentration or simply keeping abreast of this dynamic, changing field. The curriculum is tailored for functional learning across areas. Students learn in intensive, collaborative environments, either taking on the challenge of earning a MILI Certificate or directing their study through one of a suite of signature courses.

Executive participants can expect to get a sense of the scope and shape of the global healthcare landscape; engage in detailed analysis of specific topics, firms, and industry sectors; and work alongside peers, colleagues, and world-class academics in experiential learning projects with firms around the world.

For more information and to register, please visit Executive Education for the Medical Industry.

 

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Alumnus Perspective

Anil Asrani photo"I want to capitalize on my passion for science and business, and with the Medical Device nexus that exists here in Minnesota, the MBA/MILI is hands down the best opportunity that I can pursue. With our existing ties to our Industry Council and the passion that Steve Parente brings to MILI, I can only imagine what the future of this degree will bring. It's really assuring to know that large corporations recognize the value that this specialization affords."

--Anil Asrani, 2009 MBA

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