Implementation of a Longitudinal Personal Finance Curriculum into Resident Medical Education
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View abstract on PubMed
Summary
This summary is machine-generated.Medical residents received financial education through a longitudinal curriculum, showing improved knowledge in key areas like contracts and negotiation. This program supports their financial development during training.
Area Of Science
- Medical Education
- Financial Literacy
- Resident Training
Background
- Medical residents often graduate with substantial debt and limited financial knowledge.
- A lack of standardized, longitudinal financial education exists for residents.
- This study addresses the need for comprehensive financial training in medical residency programs.
Purpose Of The Study
- To design and implement a longitudinal financial education curriculum for Internal Medicine and Pediatrics residents.
- To cover essential personal and professional finance topics relevant to physicians.
- To enhance financial literacy and preparedness among medical trainees.
Main Methods
- A 3-year repeating curriculum with four annual lectures on personal and professional finance was integrated into residency programs.
- Surveys assessing knowledge and behaviors were administered to residents from 2016 to 2020.
- Data collection was adapted due to the transition to virtual/hybrid models during the COVID-19 pandemic.
Main Results
- An average of 33% of residents attended lectures annually.
- Survey data indicated significant improvements in understanding employment contracts, negotiation, and practice structures.
- Qualitative feedback highlighted the program's relevance and the value of physician-led instruction.
Conclusions
- A longitudinal personal finance curriculum was successfully implemented in resident medical education.
- The curriculum effectively supported residents' personal and professional financial development.
- This initiative provides a model for enhancing financial literacy in postgraduate medical training.
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