Medical student education: what it costs and how it is funded (original) (raw)
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Given the importance of the education system in the health sector and the necessity to calculate the cost in this sector, this study aimed to calculate the cost of education for health students in Shiraz Medical School, using activity-based costing (ABC). Methods: This study was conducted in Shiraz University of Medical Sciences in 2015-2016, considering the cost structure of the education department. The data required for the present research study was gathered from accrual accounting system, payroll system, educational deputy system called SAMA, list of paid salaries, information received from medical school such as exact position of individuals and course credits assigned to teachers, interviews conducted at the university headquarter in order to determine the appropriate indicators for allocating the costs, and interviewing clinical and non-clinical teachers to calculate the cost of training in these fields. Results: The findings indicated that the cost of training in general accounted for 70% of the total cost of student education. PhD in Medical Ethics, Assistant of Radiotherapy and Ph.D. in Pharmacology turned out to posit the highest cost for each student respectively, while MPH, Master of Medical Engineering, and Master of Electronic Medicine Education had the lowest cost for each student, respectively. The cost in all fields is more than the per capita cost of student education paid to the university. Conclusion: Authorities should focus on controlling and reducing the cost of training, which is the main component of the costs. Factors such as the number of students in each field, degree, and type of field are effective in the costs of education. Hence, in order to allocate the budget more equitably, costs of education for each field calculated by ABC should be based on allocating the funds to the university.
Funding of medical education: the need for transparency
Clinical Medicine, 2013
Medical education is vital to the future of healthcare provision. It is also expensive. We should ensure that the funding spent on medical education is spent in the most cost-effective way possible and delivers the best possible returns on our investment. Budgets that have been allocated to medical education should be spent on this and not on research or clinical care. Educational budgets should be transparent -so that their use and misuse are clear. We should develop a culture of lifelong learning and continually make explicit that future healthcare professionals need investment in their education to maintain the quality and safety of healthcare delivery.
The organization and management of medical education in Australia
Health Policy and Education, 1981
The review highlights the interdependence among the various subsystems involved in medical education and hence the need for coordination. Observations and perceptions derived from interviews and the review of the literature were reported to underIine the existing difficulties and factors which impede the integration of efforts of the various subsystems. Problems of coordination seem to relate to the functioning of the existing mechanisms rather than to the absence of structural arrangements. Hence, it seems necessary to improve the skiIl of committees and other coordinating bodies in the processes of mutual adjustment and responsiveness to changing conditions.
Full medical program fees and medical student career intention
The Medical journal of Australia, 2015
To explore the future career preferences of Commonwealth-supported place (CSP) and full-fee paying (FFP) medical students in Australia. Data from the Medical Schools Outcomes Database and Longitudinal Tracking (MSOD) Project exit questionnaire for CSP and FFP students who graduated between 2008 and 2011 were analysed using logistic regression. The influence of age, sex, marital status, rural background and fee-paying status on future career preference were explored. Future career preference (location and specialty) at graduation. Compared with CSP students, domestic FFP students were more likely to nominate as their first preference both urban locations (odds ratio [OR], 5.58; 95% CI, 2.04-15.26; P < 0.001) and higher-income specialties (OR, 1.37; 95% CI, 1.07-1.75; P < 0.05), and less likely to nominate as their first preference in-need specialties (OR, 0.72; 95% CI, 0.52-1.00; P < 0.05), specifically general practice (OR, 0.71; 95% CI, 0.52-0.99; P < 0.05). There was a...
The competitive forces that shape Australian medical education
International Journal of Educational Management
PurposeMedical education is an evidence-driven professional field that operates in an increasingly regulated environment as compared to other fields within universities. The purpose of this paper is to establish the extent to which Porter’s five competitive forces framework (Porter, 2008) can drive the management of medical schools in Australia.Design/methodology/approachDrawing on data from semi-structured interviews with over 20 staff from 6 case study Australian medical schools, this paper explores Australian medical education, by looking at the current policy context, structure and interactions between organizations within the system.FindingsThe findings provide evidence that environmental forces affect the nature of competition in medical education, and that competitive advantage can be gained by medical schools from a sustained analysis of the industry in which they operate in. Consequently, it is possible to apply a pre-dominantly profit-oriented framework to higher education...
A Financial Forecast of the Medical Student Educational Burden, 2002-2042.
This study focuses on the effects of increased tuition and compensation trends on educational burdens of young physicians. I use financial analysis, and historical data to forecast tuition, fees, and interest payments for students entering the practice of medicine from 2002-2014, including costs financed through loans. I compare these costs with projected physician compensation over the same period. Finally, I compare these metrics to determine the overall economic burden on young physicians who will begin their education over the next 15 years. I created a forecasting model using SPSS using data from the U.S. Department of Education (DOE), the Bureau of Labor Statistics (BLS), and the American Association of Medical Colleges (AAMC). I adjusted all values to 2014 dollars. I found that debt for students attending medical school will increase such that over half of their net income will go to loans and taxes. Many excellent candidates may choose alternate careers exacerbating the current physician shortage unless changes are made to educational costs. From 2002-2014, undergraduate tuition and fees increased by 42.1%, or 2.97%/year. Medical school tuition and fees increased by 42.4% (2.99%/year). Simultaneously, BLS data reveal that physician income decreased by 4.80%, (-0.41%/year); primary care compensation increased 3.93% (0.32%/year). Meanwhile, student debt burdens increased by 27.9%. Since 2012, graduate students no longer qualify for subsidized graduate loans. These factors may discourage highly-qualified students from pursuing medicine. In my analyses I found that premedical-intent students now entering undergraduate education face significantly reduced net income. The model I used predicts that physicians who begin practicing in 2016 will pay a weighted amount of 38.6% of income to loans and taxes (adjusted for residency and control of school). 2016 undergraduate freshmen may pay 44.4% of income when they begin practice. In 2026, 50.1% of gross income would go to loans and taxes.