How much does medical education cost school?

[mechtel]

Of course this varies, but I was wondering if anyone had any numbers for any specific schools.

For example, if a NY state school charges 18K in tuition, how much is subsidized by the state?

And, if an Ivy school charges 45K in tuition, how much is subsidized by federal research funding and other university resources?

Lastly, would student pay the entire cost of a medical education at a school like NYMC with no major state or research funding? Would schools in this category then be spending less per student?

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[Nilf]

Of course this varies, but I was wondering if anyone had any numbers for any specific schools.

For example, if a NY state school charges 18K in tuition, how much is subsidized by the state?

And, if an Ivy school charges 45K in tuition, how much is subsidized by federal research funding and other university resources?

Lastly, would student pay the entire cost of a medical education at a school like NYMC with no major state or research funding? Would schools in this category then be spending less per student?

Make sure to include the opportunity cost in your calculation, i.e. the money you would have made IF you don't go to medical school, plus the interest.

Also, intangibles like a decade of lost social opportunities and impaired health should enter your equation as well.

 

[mechtel]

Make sure to include the opportunity cost in your calculation, i.e. the money you would have made IF you don't go to medical school, plus the interest.

Also, intangibles like a decade of lost social opportunities and impaired health should enter your equation as well.

Sorry, but I think you misunderstood. There is no opportunity cost. My question is how much do medical schools spend to educate a student. If they didn't spend it on me, they would spend it on someone else.

 

[Mattabet]

I don't know exactly, and as you said it depends from place to place, but it's in the five-figure range. The capitation credit in Wisconsin for an in-state resident at either school is a bit over $5,000 per year (and that doesn't include all the money that is spent on you, it's just an easy chunk to see). They don't want to lose their investment with you dropping out - part of the reason for stringent application policies.

 

[funklab]

Make sure to include the opportunity cost in your calculation, i.e. the money you would have made IF you don't go to medical school, plus the interest.

Also, intangibles like a decade of lost social opportunities and impaired health should enter your equation as well.

someone sounds like an economist. Very good advice.

 

[Bacchus]

How much does it cost to educate medical students?.
Franzini L, Low MD, Proll MA; International Society of Technology Assessment in Health Care. Meeting.
Annu Meet Int Soc Technol Assess Health Care Int Soc Technol Assess Health Care Meet. 1997; 13: 137. University of Texas-Houston Health Science Center, Houston, TX, USA.
PURPOSE:Budgetary pressures from the state and federal government and the emergence of managed care in the US health care field have forced medical schools to reconsider the sources for financing medical education. It has become imperative to separately identify the cost of the educational component, the cost of the research component, and the cost of the clinical service component of medical schools. Becasue of a lack of consensus on the amount of research and service that should be included in the cost of educating medical students, this study assess the costs of medical education under several scenarios with different amounts of research and clinical service essential to the education of medical students. The study also evaluates the contribution to education of residents and volunteer faculty in each scenario. METHODS: A cost construction model was used to build up the economic cost to society of undergraduate medical education using information on student contact hours, enrollment, professional activity profiles, resident and faculty salaries, and supporting resource costs. Sensitivity analysis was used to vary the allocation of joint products, such as joint teaching and research/service, and to vary the level of research and service essential to the educational mission. Residents costs were included and the contribution of volunteer faculty was identified and imputed a value. RESULTS: With an enrollment of 200 students, we predicted an economic cost per student year ranging from $44,448 for pure instruction to $92,638 for providing an appropriate educational milieu. Omitting the cost of residents and the imputed value for the contribution by volunteer faculty lowered those costs by approximately 16%. CONCLUSIONS: This study discusses the economic issues of joint product allocation when assessing the costs of medical education. Because a single cost estimate could be misleading, it is suggested that a range of costs be reported in order to provide more relevant and useful information to decision makers.


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»Today in-state tuition is $11,200 and the cost to educate one student per year is approaching $150,000. UNC is still one of the least expensive medical schools nationally.

http://www.med.unc.edu/alumni/files/class_of_2009_campaign.ppt
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