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The demand for residents.

R H Lee, J Hadley

    Journal of Health Economics
    |November 6, 1985
    PubMed
    Summary
    This summary is machine-generated.

    This study models the demand for medical residents, showing how hospital factors like training quality and costs influence hiring decisions. Empirical data supports the derived demand model, assessing competition and cost controls.

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    Area of Science:

    • Health Economics
    • Medical Education
    • Hospital Administration

    Background:

    • Medical residency positions are crucial for physician training.
    • Understanding the economic drivers of resident demand is vital for healthcare workforce planning.
    • Teaching hospitals operate with unique cost structures and objectives.

    Purpose of the Study:

    • To develop an empirical model of the demand for medical residents.
    • To analyze the impact of hospital-specific factors on the cost of hiring residents.
    • To assess the effects of market competition and cost control on resident demand.

    Main Methods:

    • Developed an empirical derived demand model for medical residents.
    • Utilized three distinct datasets for analysis.

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  • Explicitly modeled the influence of stipends, training quality, teaching costs, and hospital objectives.

    • Main Results:

    • Empirical results align with the derived demand model.
    • Hospital objectives, training quality, and teaching costs significantly impact resident demand.
    • Increased competition and cost control measures indirectly affect resident hiring.

    Conclusions:

    • The derived demand model provides a valid framework for understanding resident labor markets.
    • Hospital financial and operational factors are key determinants of resident positions.
    • Policy interventions like cost controls and competition influence the supply of trained physicians.