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Actually, a Doctorate of Medicine is considered to be a First Professional Degree, graduate entry degree or second entry degree. It's pretty much the same as a Bachelor's of Medicine, but in the 1800s, American Medical Schools switched to the tradition of the Ancient Universities of Scotland and adopted the M.D. instead. It may not be a Ph.D., but the fact that having a M.D. allows you to do your own benchwork, establish new areas of research, and publish pretty much makes it equivalent.
It IS the same - the first professional degree program in the Commonwealth comes after A levels, whereas in the US it comes after a bachelor's degree. I don't get what is your point. It IS undergraduate medical education; that's why I called it semantics. Even though the degree granted is M.D., it's still undergraduate education.