I completely agree with docB's first message (I would advise against doing an FP residency if you plan to work in an ED or do urgent care. There are FP trained docs who work in rural EDs that cannot attract or afford board certified EPs but this is the exception to the national trend.). I disagree, however, with the second. I don't think it would be awaste of time for you to do an EM residency. Let me explain why...
I am a PGY-III in FP. I graduate in June and I am applying for a second residency in EM. My eventual goal is to work and teach in rural EM. I truly believe that I should be board certified in EM if I'm going to practice EM - even in a rural area. MY FP training is in a rural area and I chose my current program b/c it offered an EM/Acute Care track. I originally thought that I would receive training that was adequate for me to practice rural EM. By the beginning of my PGY-II year, however, I realized that this was not possible. In most FP residency programs you will receive one month of EM in your intern year. none in PGY-II, and one month in PGY-III. Obviously there are elective opportunities but depending on where you are located, you still may not be getting the volume of patients and, most importantly, the procedures, to give you the confidence to work in EM. Sure, 70-80% of patient visits to rural ED's are basic outpatient type medicine. Rural areas may not have the "knife-and-gun club" excitement of urban areas, but there are dozens of serious blunt force traumas that require you to be up on your ATLS procedures.
Now obviously, a lot of this depends on where your passion lies. If you are really into Family Medicine, then do a FP residency and you could even consider the EM fellowship (see AAFP web site). Many of our recent graduates and working in rural ED's, without any additional residency or fellowship training. There are still plenty of opportunities for FP's in EM in underserved areas. Be advised, however, that some of the jobs are drying up. Many rural/semi-rural hospitals are actively recruiting EM BC grads to work in rural hospitals (our hospital just hired 2).
If your passion is EM, like mine, then please do an EM residency. If you love EM and want to work in EM, you will be absolutely miserable in a FP residency (sorry to be so blunt). There are more EM programs in states with large rural areas that are attracting applicants who want to work in live in rural/semi-rural communities. Remember, not all EM residents want the "excitement" of urban EM. Nebraska, WVA, VA, PA, NC, GA, Utah, and others all have EM programs that encourage and incorporate rural and community EM training. check out the nSAEM residency catalog. There are some great programs out there for rural EM - i'm interviewing at 2 of them.
Luckily, you have some time to decide what is right for you and I would be happy to answer any of your questions regarding FP training. Please feel free to private message me.
Best of luck.
DirtRidnDoc
PS Sorry for any typos....