Advantages:
Take the boards during that year and apply to onc already ABIM certified (aren't they offering it more than once a year now? May only apply if you take 2+ years off before starting onc).
Experience in acute and chronic pain management/onc emergencies/symptom management/chemo side effects/prognosis/empathy/patient & family angst.
Ability to perform at a higher level than most graduating R3s. Of course I was an attending for 2 years before this, which helped too.
People have more respect for you once you have already completed a fellowship. Trust me, the head honchos do.
Chance to rack up awards for teaching, etc.
I'm still able to moonlight at my job as an attending in hospital medicine while doing this fellowship.
Experience with onc patient after onc patient after onc patient after.....
Chance for more research and presentations.
People love the idea of double certification in Onc and Pall Medicine
Do the fellowship at the place you want to do onc...let them see you.
98% of people love hospice docs and think they must be the best most compassionate docs ever and "I could never do your job!" (The other 2% think "hospice killed my momma!" No honey, smoking did.)
Baby boomers must die someday...cert in PCM is only going to get more valuable over time.
The Pall Med team never misses lunch. Not ever. Not no how.
Disadvantages:
1-2 more years of your life. But if you can't land an onc spot as it is now, what have you got to lose?
Death, death and more death.
Some sad and angry people.
Harder to fit in onc interviews during a fellowship (I have two months of elective and 4 weeks vacation, so it is doable).
That's what I can come up with right now. Of course I am only one week in at this point. Go to a non-malignant program if you do decide to do it. This aint your cards fellowship baby! Much much much easier.
Every place I interviewed for onc and heme-onc brought it up and thought it was a plus, and I hadn't even started yet! I got my top choice this year, so I am thrilled.
Did I mention death?