Effect of Recession on training programs

[neuron1980]

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Hey guys,
So, I am just throwing this out. Any thoughts about how the recession will affect residency programs? Is it possible that a program where you match won't have funding and can't offer you a contract for second year? Just wondering with all the bad news coming from everywhere 😕

 

[dragonfly99]

Medicare GME funding would have to be suddenly cut before they would cut residency positions, and I don't see that happening.

 

[Law2Doc]

Hey guys,
So, I am just throwing this out. Any thoughts about how the recession will affect residency programs? Is it possible that a program where you match won't have funding and can't offer you a contract for second year? Just wondering with all the bad news coming from everywhere 😕

Residencies are big money makers for hospitals. They get something like six digits for each resident, but only pay out 40k. Plus your work is something they can bill for. So it's a cash cow. So no, don't expect any change in residency slots.

 

[NotAProgDirector]

Although if a hospital goes bankrupt, all residents can be out of a job.

 

[McLaren]

ok, how to make the opposite then? double all postions?

 

[Law2Doc]

ok, how to make the opposite then? double all postions?

It can't go up (without federal action) -- residency slots are carefully regulated -- hospitals all have the maximum they are allowed to get funding for.

 

[sirus_virus]

Even when the economy was booming, residents were being paid great depression wages. Hospitals will save more money laying off janitors than they would laying off residents.

 

[usnavdoc]

The way programs show they are hurting is not so much in decreasing resident spots but in the extras. See if programs are cutting back on book funds, funded GME trips, Holiday or graduation parties, less hiring of extenders and using residents more to fill the gap.

 

[McLaren]

It can't go up (without federal action) -- residency slots are carefully regulated -- hospitals all have the maximum they are allowed to get funding for.

I hope Obama does it 😀

 

[usnavdoc]

I hope Obama does it 😀

Actually if you start increasing the numbers produced you will start decreasing the availability of quality jobs. So it is best to have things carefully matched.