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Oh no, it's not. Suppose you finish your three-year plus one intern year medical school and decide you'd like to do emergency Medicine. While it's true that there are some minor things that you will be able to handle, depending on where you get a job, a significant number of patients will present with things you have either never seen or have no experience with. Even something as simple as intubation needs to be practiced under different circumstances, hopefully with some backup and advice for the difficult airways before we are thrown out on our own never having had to make the spit-second decision to cut open someone's trachea, not to mention never having actually been supervised doing it a couple of times. I shudder to think of what a botch I would have made of things if I was let loose on the public after just an intern year.
Surgery, as an another example, even more so than emergency medicine, needs extensive training "on the job." You can't fake your way through operations. That's why they have surgery residency programs.
Even if you are working under an experienced attending for an undetermined number of years without some structure you are going to be extremely unprepared. The practice of medicine is difficult. Eventually we are supposed to make it look easy but that's only because we work so hard at it. Are you going to get six months of absolutely necessary for an Emergency Physician ICU training in your informal residency? Probably not.
Now, if you mean that residency training has become too formal and regulated you may have a point but we have to have standards. Completing a residency, while an imperfect measure of competency, should be viewed as a minimum level of proficiency and is currently the best measure of quality we have.
Currently, mid-level providers fill the niche for low-acuity, booger-and-cough care. On the other hand, I had a young, fit, ostensibly healthy 25-year-old man as a patient yesterday who looked initially for all the world like just a bad case of the flu who turned out to be septic, deteriorated rapidly, and needed the whole nine-yards...intubation, ventilator, lines, fluids, pressors, and antibiotics. A NP or a PA, working in a Wal Mart clinic, would have sent the guy home, of this I have no doubt, because I almost did and was writing him up to go when his vitals headed south.
Kind of makes you step back and thank the Lord for being in a residency program where you can make the occasional mistake, receive the appropriate correction, and nobody but your attending knows that you almost ****ed up.
Ok, I just want to clarify that I am not advocating getting rid of residency. I am advocating allowing people to practice some sorts of medicine without it. I'm also advocating making the training process a bit less formal. I am plenty aware that it is impossible to practice most subspecialties without more training. High acuity/highly technical fields also need more training. I'm not arguing that.
I'm not diminising the value of residency training, only questioning the system that makes it a defacto requirement to practice any type of medicine at all, which gives the individuals running the programs an incredible amount of power over their residents. I also questioned the environment where residents, who are often well trained in certain procedures as they move up the ranks, are often passed over for these procedures in favor of PAs/NPs/School nurse, etc... with less training but the right to direct bill for the same procedure.
I still maintain that there are plenty of types of jobs that a single year of internship makes one qualified to do, and that the miss rate at these jobs for a one year trained practicioner with 2 years on the job experience wouldn't be worse than someone with 3 years of formal training. These jobs are not surgery, EM, even complex outpatient care. However, I think that the MD is being devalued by the ever growing requirements of formalized training after its completion. As a newly minted MD, I have a background that really shouldn't be ignored. By allowing everyone to finish a TY as part of med school, it makes forgoing, or quitting residency a viable option, even if it's just to do some UC or fast track work for a while.