Having an Impact on Health Care in a Macro Way: BUSM Alumnus Discusses Alternative Career Track for Physicians

Alex To, MD ’91 recently came to BUSM at the request of N. Stephen Ober, MD ‘86, program director for the MD-MBA program at BU, to share with current MED students some of his experiences as a physician in the world of finance and to talk about, “Off the Well Trodden Path: Unconventional Careers for the MD.”

“Investment research is very intellectual and academic,” To said to the students. “Also, I am probably more up to date on medical advances than most practicing physicians, and I get to work in all kinds of specialties.” He likened the analysis of an investment opportunity to taking a history and physical. “You look at the background, study the management, and check the technology or working parts.”

He stressed that by researching and developing the information needed by investors who provide funding for new pharmaceuticals and medical innovations, he does help save lives. “I get to direct a lot of money to very worthy projects as I did with the development of half of the drugs used to treat HIV, and most of the drugs for multiple sclerosis.” He also was instrumental in providing the early funding for the development of Enbrel, a tissue necrosis factor (TNF) inhibitor, used to bind the TNF associated with rheumatoid arthritis and prevent it from infiltrating joints and ligaments.

To is the founder of Cross Current Research, LLC, an independent research firm, with 18 years of experience in life sciences and healthcare investing. He is noted for his wide-ranging knowledge of technology, product development, and competitive and regulatory issues. He serves as an advisor to life sciences companies in the areas of financing and research and development strategies. He completed an internship in internal medicine at Columbia University and has an MBA from the Wharton School at the University of Pennsylvania.

During his presentation, To noted that a masters in business administration is a very good foundation for managing systems as the training delineates how companies function and teaches the necessary skills for leadership. He discussed the various options for careers in finance that can be linked with training in medicine and bio-medical research including buy- and sell-side analyst, investment banking where currently there are very few life sciences experts, and general management of pharmaceutical and bio-medical companies. In addition to research and development, and marketing and sales, he stressed the opportunities on a global level that having a combined medical and business background can help with such as international medical organizations and entrepreneurial ventures between countries.

He advised the students to make their medical degree an asset in the business world and to heed Aristotle’s recommendation to seek fulfillment and contentment in life.

“As physicians we can have an impact on our individual patients,” said Ober. “Dr. To’s career as an analyst, advisor and investor in medical innovation has benefitted millions of patients.”

The combined MD-MBA program is conducted under the joint auspices of the School of Medicine (BUSM) and the Graduate School of Management (GSM). Students complete the first three years of the medical school curriculum and then spend their fourth year fully integrated into the MBA program at the School of Management within the Health Sector Management Program. In their fifth year, students complete their remaining medical education and 10 management course credits at GSM. For more information on the MD-MBA program go to: http://www.bumc.bu.edu/admissions/programs/md-mba/.

Submitted by Mary Hopkins.