Tasos Karakostas already had a successful clinical research career, but the Iowa MBA gave him insights and influence over clinical and fiscal decisions with implications over his lab’s financial future as well as his.
An MBA for every phase
Born in England and raised in Greece, Tasos Karakostas found his home in the U.S. as the director of a clinical and computerized motion analysis laboratory at a major rehab hospital. So, what does clinical research have to do with an MBA?
Turns out, much more than you’d think.
Clinical laboratories like the one Tasos operates also have a business side. The Iowa MBA gave him visibility into the administrative and financial decision-making processes of running the lab—and helped him influence the strategic decisions that would impact budget and operations.
“From a professional point of view, our laboratory does have a business end because it has to be financially viable. I can better understand that side by virtue of the principles I learned in the Iowa MBA program.”
The road less travelled
Tasos admits that his path to an MBA is anything but typical.
“I don’t do things the usual way, so I chose a Finance Concentration. It’s something that pertained to my future needs, and at the same time it’s a big component for the laboratory I’m running.”
“With all the changes in healthcare, I wanted to make sure that we don’t just produce clinically evidence-based practices, but that they are also sound on financial principles. The Iowa MBA helps me to be able to speak to administration, see and be sensitive to the changes that are happening in healthcare and how they affect us financially, and be proactive.”
The lab Tasos leads has two main branches: The clinical branch, where his team does evaluations of children with cerebral palsy, spina bifida, or anyone with walking deficits to determine the kind(s) of intervention(s) needed, such a surgery. And the research branch, where they study walking and motion to understand the interaction between cognition and walking to help diagnose diseases like dementia or the link between upper and lower extremity function through the nervous system, as well as use AI to assist in rehab.
The work of Tasos and his team makes a powerful difference, so he wanted to be strategic in how he managed it.
“With all the changes in healthcare, I wanted to make sure that we don’t just produce clinically evidence-based practices, but that they are also sound on financial principles. The MBA helps me to be able to speak to administration, see and be sensitive to the changes that are happening in healthcare and how they affect us financially, and be proactive,” he explains.
Support now, and in the future
Even as he approaches retirement, Tasos has no plans of slowing down—and that included earning his MBA at the same time his daughter entered high school.
“The timing was right for me to get an MBA. My daughter and I were both studying at the same time, so there was no argument in terms of who was or wasn’t working hard!”
“I didn’t have to have an MBA for my career. But the Iowa MBA helps me rationalize the administrative decisions that people in an organization make, and also put into perspective my personal financial resources for the future.”
With the backing of his family, Tasos was able to fit his online program into an already packed schedule.
“I’m grateful that my wife allowed me to do this and tolerated me doing this. One of her biggest assets is that she’s very forgiving and flexible with my choices.”
Now that he’s earned his MBA, plus certificates in finance, financial decision making, and investment management, Tasos not only has the confidence to lead his laboratory—he also has skills that will benefit him well into his next phase.
“I didn’t have to have an MBA for my career. But the Iowa MBA helps me rationalize the administrative decisions that people in an organization make, and also put into perspective my personal financial resources for the future.”
In the end, Tasos recommends an Iowa MBA no matter what stage of life you happen to be in … or entering.
“Life is an evolution. Whether you make progress or just evolve depends on your intellectual curiosity. If you have that curiosity, the Iowa MBA would be a great addition to your professional and personal journey.”