Funding

[satakay]

Can any body tell me, who is providing funds for residencies and for how many years for a particular resident..
for example if some body exhausted his/her funding duration, i,e completed one residency, wont be funded in another specialty...
I wonder how does it works and who should be contacted in this regard?

 

[NotAProgDirector]

Take a look here and here.

The number of years of funding is equal to the number of years it takes to become initially board certified in that field.

 

[satakay]

Thank you very much PD, I read the other threads too, but I did not get it..

If I have exhausted my IM funding like for 3 yrs..
and now, if I am applying in Neurology or any other specialty beside IM.
will I get funded by the Medicare? or just will get funded 50%.. thank you

 

[Winged Scapula]

Thank you very much PD, I read the other threads too, but I did not get it..

If I have exhausted my IM funding like for 3 yrs..
and now, if I am applying in Neurology or any other specialty beside IM.
will I get funded by the Medicare? or just will get funded 50%.. thank you

Your question is answered in the links provided.

After you have completed your training in the specialty you were originally funded for, the new program will get 50% of the DME funding and 100% of the IME funding.

 

[gutonc]

Your question is answered in the links provided.

After you have completed your training in the specialty you were originally funded for, the new program will get 50% of the DME funding and 100% of the IME funding.

QFT.
Also, to make it even more clear:
DME = Salary/benefits
IME - Everything else it costs to train a resident. (GME overhead, lost attending productivity, malpractice, lots of other stuff I can't think of, etc.)

Assume it costs $120K a year to train a resident (this just makes the math easier...not saying this is a real number).
Salary + benes = $60K, Everything else = $60K. If you are past your initial "funding clock" (which you are), and you are able to score a 2nd residency, your program will get $90K from Medicare and will be on the hook for you for $30K a year. This may or may not be worth it for them.