Related Experiment Videos
Return on educational investment in geriatrics training.
William B Weeks1, Amy E Wallace
1Department of Psychiatry, Dartmouth Medical School, Hanover, New Hampshire, USA. bill.weeks@dartmouth.edu
Journal of the American Geriatrics Society
|October 28, 2004
Summary
Training in geriatric medicine offers a negative financial return for internal medicine residents. Despite increasing demand for geriatric specialists, lower incomes and suboptimal reimbursement structures discourage this critical specialty. Addressing these financial incentives is vital for the future geriatrics workforce.
Area of Science:
- Geriatric Medicine
- Health Economics
- Medical Education
Background:
- The aging US population necessitates more geriatric medicine specialists.
- There is a declining trend in filled fellowship positions within geriatric medicine.
Purpose of the Study:
- To analyze the financial return on investment for additional geriatric medicine training.
- To compare the lifetime earnings of geriatricians versus general internists.
Main Methods:
- Utilized American Medical Association survey data and financial analysis techniques.
- Calculated the return on educational investment for internal medicine residents considering geriatrics.
- Employed regression modeling to assess income disparities.
Main Results:
- Physicians specializing in geriatrics reported lower incomes than age-matched general internists.
- Income disparities widened in the later years of the study period (1993-1999).
- Geriatricians' reliance on Medicare revenue may contribute to lower earnings.
Conclusions:
- Pursuing specialized training in geriatric medicine yields a negative financial return.
- Current financial incentives may not adequately support the growing need for geriatric specialists.
- Re-evaluating financial returns and incentives is crucial for workforce planning in geriatrics.