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What is the institutional financial impact of an MD-PhD program without extramural funding?
Margaret M Byrne1, Izidore S Lossos, Izidore S Losso
1Department of Epidemiology and Public Health, University of Miami Miller School of Medicine, Miami, Florida, USA.
Background:
Training in the form of MD-PhD programs is an important part of the academic mission of medical schools, yet the costs incurred in providing these programs may be considerable. This research explores the financial impacts on a university of supporting an MD-PhD program.
Summary:
We estimate the net financial impact of an MD-PhD program under a variety of assumptions about the financial gain that the school obtains through MD-PhD students' contributions to externally funded research. Under certain assumptions, the net financial impact of the MD-PhD program is positive, and under the most unfavorable assumptions the cost per student year is less than $30, 000.
Conclusions:
The apparent costs of an MD-PhD program are ameliorated or even turned into gains when one considers the resources generated by MD-PhD students. Thus, such programs can serve as a means of increasing external awards and improving the overall quality in graduate schools.
