health
America doesn't need more medical students, only more residents
Earlier this month, fourth-year medical students around the country learned news that will shape the rest of their careers. Match Day, as it’s known, is when aspiring physicians learn where they will complete their training in residency.
TL;DR
- Approximately 53,000 applicants competed for 44,000 residency positions last year, leaving thousands of medical students without a placement.
- The United States could face a shortage of up to 86,000 physicians by 2036.
- A federal cap on Medicare-funded residency positions, established by the Balanced Budget Act of 1997, is a primary cause of the residency slot shortage.
- The private sector can help by investing in expanding residency programs, particularly in underserved areas.
- Physicians are more likely to practice long-term in the areas where they complete their residency.
- Expanding residency slots provides a quicker solution to the doctor shortage than building new medical schools, as residents are licensed physicians who can treat patients immediately.