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Woolley PA, Kendall MC, Tacvorian S, Asher S. Integrating a Personal Finance Workshop to Enhance Financial Literacy Among Senior Medical Students: A Single Institution's Experience. ADVANCES IN MEDICAL EDUCATION AND PRACTICE 2024; 15:885-891. [PMID: 39345732 PMCID: PMC11439360 DOI: 10.2147/amep.s474002] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Subscribe] [Scholar Register] [Received: 06/25/2024] [Accepted: 09/15/2024] [Indexed: 10/01/2024]
Abstract
Purpose Graduating medical students frequently start their training burdened with substantial financial debt and minimal savings, especially in comparison to their peers in other professional fields. A lack of financial literacy can result in increased debt, decreased job satisfaction and contribute to physician burnout. Enhancing financial education could improve both the financial stability and emotional well-being of future medical professionals. In this study, a basic personal finance workshop was conducted for 4th year medical students at a single institution. The aim of the study was to determine the impact of the personal finance workshop on improving financial literacy. Methods An introduction to basic personal finance workshop was open to enrollment for all 4th year medical students at The Alpert Medical School at Brown University. A 40-question survey to evaluate financial literacy was administered to all participants before and 6-months after the workshop. The topics covered included student loan management, basics of retirement accounts, investing, budgeting, saving and consensus surrounding financial topics. The results were analyzed using student paired t-test and Chi-square test of independence. Results Overall, an improvement in financial literacy was reported 6 months after the personal finance workshop (62% vs 54%, p = 0.004). Students subjectively reported an increase in confidence in their personal finance knowledge (16% vs 44%) and general knowledge regarding retirement savings (7% vs 55%). More than 92% of students agreed or strongly agreed that a basic personal finance education should be included as part of the medical school curriculum. Conclusion A personal finance workshop for medical students nearing graduation increases awareness and confidence in financial knowledge. The incorporation of basic financial education in the medical school curriculum may help young physicians establish better financial habits that will improve their financial wellbeing.
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Affiliation(s)
- Parker A Woolley
- Department of Anesthesiology, Critical Care and Pain Medicine, Beth Israel Deaconess Medical Center, Harvard Medical School, Boston, MA, USA
| | - Mark C Kendall
- Department of Anesthesiology, The Warren Alpert Medical School of Brown University, Providence, RI, USA
| | - Simon Tacvorian
- Department of Anesthesiology, The Warren Alpert Medical School of Brown University, Providence, RI, USA
| | - Shyamal Asher
- Department of Anesthesiology, The Warren Alpert Medical School of Brown University, Providence, RI, USA
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Kutschke MJ, Fadale PD. Personal Financial Literacy for the Orthopaedic Trainee and Early Career Surgeon: A Review of the Basics. J Am Acad Orthop Surg 2024:00124635-990000000-01098. [PMID: 39303281 DOI: 10.5435/jaaos-d-23-01260] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 12/29/2023] [Accepted: 08/14/2024] [Indexed: 09/22/2024] Open
Abstract
Personal finance is a topic that has historically been shunned as a point of conversation in academia, often avoided and seldom discussed in medical training. However, this aversion leaves trainees and early career surgeons to make complex financial decisions without sufficient understanding while simultaneously facing the pressures of building an orthopaedic practice-a recipe destined for burnout. This simple review serves to equip young orthopaedic surgeons with the fundamental personal financial concepts essential for making wise financial choices early in their careers. Prompt elimination of all high-interest consumer debt and devising a strategy to address student loans are crucial first steps in establishing the foundation for personal financial success. Progressing through training and entering practice bring about enhanced personal discretionary funds that are most effectively deployed through consistent budgeting and automated saving strategies. Malpractice, disability, and life insurances are keys to protecting current and future earnings as well as preventing financial catastrophe. Augmenting these items with a functional understanding of taxation systems, tax diversification, and asset protection is essential to recognize in the early years of practice to set the trajectory for financial independence and a well-deserved retirement.
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Affiliation(s)
- Michael J Kutschke
- From the Department of Orthopaedic Surgery, Brown University Warren Alpert School of Medicine, Providence, RI
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Madhusoodanan V, Bitran J, Towe M, Ritch C. Financial and Business Literacy Among Urology Residents: Is this a Problem and How Can We Better Prepare Residents for their Careers? Curr Urol Rep 2024; 25:207-214. [PMID: 38904922 DOI: 10.1007/s11934-024-01216-6] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Accepted: 05/30/2024] [Indexed: 06/22/2024]
Abstract
PURPOSE OF REVIEW Although financial wellness is a predictor of physician burnout, we are yet to optimize financial education or wellness of Urology trainees. We assessed existing studies, compared them to those of other specialties, and discussed resources and methods to address this deficiency. RECENT FINDINGS Urology residents tend to be less fiscally savvy (carry significant debt, and lack retirement savings or disability insurance), and 90% of trainees and young Urologists do not feel comfortable with the business of practice, including skills like coding and billing, contract negotiation, and self-value assessment. Financial and business literacy are deficiencies of Urology training, as in other specialties. Eventually, the goal should be universal adoption of a formal curriculum that is graded in nature. In the interim, we need to propose and endorse adoption of a formal curriculum, and we should support trainees by promoting a space for easily accessible and transparent information regarding best practices in personal finance and the business of healthcare.
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Affiliation(s)
- Vinayak Madhusoodanan
- Desai Sethi Urology Institute, University of Miami Miller School of Medicine, Miami, FL, 3313, USA.
| | - Joshua Bitran
- Desai Sethi Urology Institute, University of Miami Miller School of Medicine, Miami, FL, 3313, USA
| | - Maxwell Towe
- Desai Sethi Urology Institute, University of Miami Miller School of Medicine, Miami, FL, 3313, USA
| | - Chad Ritch
- Desai Sethi Urology Institute, University of Miami Miller School of Medicine, Miami, FL, 3313, USA
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Fischer NM, Handelsman R, Schointuch M, Vitez S, Szczupak A, Sanfilippo J. An Assessment of Business of Medicine Knowledge in Obstetrics and Gynecology Fellows: A Pilot Study. J Pediatr Adolesc Gynecol 2024; 37:383-388. [PMID: 38301796 DOI: 10.1016/j.jpag.2024.01.164] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 07/27/2023] [Revised: 01/18/2024] [Accepted: 01/24/2024] [Indexed: 02/03/2024]
Abstract
STUDY OBJECTIVE To identify knowledge gaps in business education among obstetrics and gynecology fellows METHODS: An online anonymous survey was distributed to obstetrics and gynecology subspecialty fellows, including pediatric and adolescent gynecology, minimally invasive gynecologic surgery, and reproductive endocrinology and infertility fellows. RESULTS Of the 483 fellows who received the questionnaire, 159 completed the surveys, resulting in a response rate of 32.9%. A total of 80 reproductive endocrinology and infertility fellows (50.3%), 47 minimally invasive gynecologic surgery fellows (29.6%), and 32 pediatric and adolescent gynecology (20.1%) fellows completed the survey. Over half reported debt from either undergraduate or medical school (52.2%). Over half (58.5%) reported 0 hours of finance education in their residency or fellowship training. In general, fellows reported relatively higher levels of confidence in nonmedical aspects of business, such as purchasing a home (63.9%), life and disability insurance (57.2%), and making financial plans for the future (57.9%). Conversely, a large portion of fellows reported feeling "not at all confident" in business topics related to the field of medicine, including contract negotiation (24.7%), non-competes (27.1%), relative value units system-based pay (32.0%), general office practice management (58.2%), legal aspects of business (71.8%), accounting and billing (54.4%), and marketing (55.7%). CONCLUSION Our survey demonstrates an unmet demand among obstetrics and gynecology fellows to learn topics related to the business of medicine. Knowledge of these topics is critical for those pursuing private practice or academic medicine. Future initiatives should evaluate other subspecialties and prioritize creating a standardized education tool to better prepare trainees entering medical practice.
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Affiliation(s)
- Nicole Mercado Fischer
- University of Pittsburgh Medical Center, Department of Obstetrics, Gynecology and Reproductive Sciences, Pittsburgh, Pennsylvania.
| | - Roy Handelsman
- University of Pittsburgh Medical Center, Department of Obstetrics, Gynecology and Reproductive Sciences, Pittsburgh, Pennsylvania
| | - Monica Schointuch
- University of Pittsburgh Medical Center, Department of Obstetrics, Gynecology and Reproductive Sciences, Pittsburgh, Pennsylvania
| | - Sally Vitez
- University of Pittsburgh Medical Center, Department of Obstetrics, Gynecology and Reproductive Sciences, Pittsburgh, Pennsylvania
| | - Alexandra Szczupak
- University of Pittsburgh Medical Center, Department of Obstetrics, Gynecology and Reproductive Sciences, Pittsburgh, Pennsylvania
| | - Joseph Sanfilippo
- University of Pittsburgh Medical Center, Department of Obstetrics, Gynecology and Reproductive Sciences, Pittsburgh, Pennsylvania
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Dehmoobad Sharifabadi A, Bellini J, Alabousi A, Monteiro S, Mensinkai A, Al-Arnawoot B. Investigating Canadian Radiology Residents' Personal Financial Literacy: A Nation-Wide Assessment. Can Assoc Radiol J 2024:8465371241255231. [PMID: 38804509 DOI: 10.1177/08465371241255231] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 05/29/2024] Open
Abstract
Purpose: Canadian resident physicians carry large debt to finance their education, which impacts their wellness and their future decision making. The objective of this observational study is to assess the financial literacy of Canadian radiology residents through testing their financial knowledge and examining their current financial status. Methods: A survey was designed to assess the financial literacy and current financial status of radiology residents, which was distributed to Canadian radiology residents via Google Forms. Descriptive analyses on preliminary data and the association between level of training and financial quiz scores were obtained. Results: 104 valid responses from 16 universities were received. The majority (53%) of residents indicated that their debt was greater than $150 000. Residents on average scored 71% on the financial quiz and the scores were not associated with training level (P = .71). The majority (89%) of residents indicated a strong interest in a formal financial literacy curriculum, with 80% preferring a physician-led curriculum. Conclusion: Overall, residents face a high debt burden. Current resident physicians value a formal financial literacy curriculum as a part of their residency program despite existing financial knowledge. Most importantly, residents feel that a curriculum created with involvement of other physicians would be optimal.
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Affiliation(s)
| | - Jonathan Bellini
- Department of Radiology, McMaster University, Hamilton, ON, Canada
| | | | - Sandra Monteiro
- Department of Medicine, McMaster University, Hamilton, ON, Canada
| | - Arun Mensinkai
- Department of Radiology, McMaster University, Hamilton, ON, Canada
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Krasniak PJ, Kraft CT, O'Brien AL, Huayllani MT, Kaptsan I, Pearson GD, Moore AM. Financial Literacy in Plastic Surgery Training: Importance and Current Status. Plast Reconstr Surg 2024; 153:754-765. [PMID: 37199413 DOI: 10.1097/prs.0000000000010605] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 05/19/2023]
Abstract
BACKGROUND Medical training is known to impose financial burden on trainees, which has been shown to contribute to burnout, even possibly compromising patient care. Financial literacy allows for management of financial situations affecting professional and personal life. The authors aimed to evaluate the financial status and knowledge among plastic surgery residents. METHODS A survey regarding finances and financial literacy of plastic surgery residents was sent to all the current accredited U.S. residency programs. The same survey was distributed internally. A descriptive analysis was performed, and multiple Fisher exact tests and a t test evaluated comparisons. RESULTS Eighty-six residents were included. Most trainees had a student loan (59.3%), with 22.1% having loans more than $300,000. A majority had at least one personal loan debt other than educational (51.1%). Residents with more debt were significantly less likely to pay off their balances monthly. A total of 17.4% of trainees had no plan for how to invest their retirement savings, whereas 55.8% reported not knowing how much they need to save to retire. One in five trainees did not feel prepared to manage personal finances/retirement planning after graduation, a majority had no formal personal finance education in their curriculum, and 89.5% agreed that financial literacy education would be beneficial. Our institutional data largely mirrored national data. CONCLUSIONS Many residents are lacking in financial knowledge, despite most having significant debt. Additional financial literacy education is needed in plastic surgery training. Curricula development at an institutional or national society level are possible paths toward a coordinated response to this need.
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Affiliation(s)
- Peter J Krasniak
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
| | - Casey T Kraft
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
| | - Andrew L O'Brien
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
| | - Maria T Huayllani
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
| | - Irina Kaptsan
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
| | - Gregory D Pearson
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
- Nationwide Children's Hospital
| | - Amy M Moore
- From the Department of Plastic and Reconstructive Surgery, The Ohio State University Wexner Medical Center
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Minton LE, Duncan ZN, Tzabari JH, Haynes W, Patel OU, Burge K, Van Wagoner N, Burgan CM. Assessing the debt and current state of financial literacy in a cohort of diagnostic & interventional radiology residents. Clin Imaging 2024; 107:110082. [PMID: 38246085 DOI: 10.1016/j.clinimag.2024.110082] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 08/08/2023] [Revised: 12/16/2023] [Accepted: 01/07/2024] [Indexed: 01/23/2024]
Abstract
RATIONALE AND OBJECTIVES The purpose of this study is to assess diagnostic and interventional radiology resident physicians' knowledge of core facets of financial literacy: loans, real estate, investments and retirement, and insurance, with the goal of determining the need for formal financial literacy education within radiology residency programs. METHODS From May 2021 to March 2022, surveys were sent to 196 diagnostic and 90 interventional radiology residency programs. Residents were asked 10 knowledge multiple choice questions to assess areas of financial literacy. Custom R programming was used to evaluate responses. RESULTS A total of 149 diagnostic radiology residents and 49 interventional radiology residents responded to portions of the survey, for a total of 198 respondents. Of the cohort with demographic data collected, 84 out of 141 residents (60 %) had over $100,000 of debt following medical school graduation, with 115 out of 146 DR residents (79 %) and 41 out of 47 (87 %) IR residents reporting no coursework in finance. CONCLUSIONS Many radiology resident physicians have a significant debt burden, no official financial education, and clear knowledge gaps in areas of financial literacy. A structured financial education curriculum could better prepare residents for the financial realities of post-residency life.
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Affiliation(s)
- Laura E Minton
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA
| | - Zoey N Duncan
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA.
| | - Jordan H Tzabari
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA
| | - Will Haynes
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA
| | - Om U Patel
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA
| | - Kaitlin Burge
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA
| | - Nicholas Van Wagoner
- Marnix E. Heersink School of Medicine, University of Alabama at Birmingham, 1670 University Boulevard, Birmingham, AL 35233, USA
| | - Constantine M Burgan
- Department of Radiology, University of Alabama at Birmingham, 619 19th Street South, Birmingham, AL 35294, USA
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Scullen T, Milburn J, Mathkour M, Larrota A, Aduloju O, Dumont A, Nerva J, Amenta P, Wang A. Training Cerebrovascular and Neuroendovascular Surgery Residents: A Systematic Literature Review and Recommendations. Ochsner J 2024; 24:36-46. [PMID: 38510222 PMCID: PMC10949058 DOI: 10.31486/toj.23.0118] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 03/22/2024] Open
Abstract
Background: The rapid evolution of neuroendovascular intervention has resulted in the inclusion of endovascular techniques as a core competency in neurosurgical residency training. Methods: We conducted a literature review of studies involving the training of neurosurgical residents in cerebrovascular and endovascular neurosurgery. We reviewed the evolution of cerebrovascular neurosurgery and the effects of these changes on residency, and we propose interventions to supplement contemporary training. Results: A total of 48 studies were included for full review. Studies evaluated trainee education and competency (29.2%, 14/48), neuroendovascular training models (20.8%, 10/48), and open cerebrovascular training models (52.1%, 25/48), with some overlap. We used a qualitative analysis of reviewed reports to generate a series of suggested training supplements to optimize cerebrovascular education. Conclusion: Cerebrovascular neurosurgery is at a crossroads where trainees must develop disparate skill sets with inverse trends in volume. Continued longitudinal exposure to both endovascular and open cerebrovascular surgical fields should be mandated in general resident education, and blended learning tactics using adjunct simulation systems and models should be incorporated with didactics to both optimize learning and alleviate restraints placed by decreased volume and autonomy.
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Affiliation(s)
- Tyler Scullen
- Department of Neurological Surgery, Tulane Medical Center, New Orleans, LA
| | - James Milburn
- Department of Radiology, Ochsner Clinic Foundation, New Orleans, LA
- The University of Queensland Medical School, Ochsner Clinical School, New Orleans, LA
| | - Mansour Mathkour
- Department of Neurological Surgery, Tulane Medical Center, New Orleans, LA
| | - Angela Larrota
- International School of Louisiana, West Bank Campus, New Orleans, LA
| | | | - Aaron Dumont
- Department of Neurological Surgery, Tulane Medical Center, New Orleans, LA
| | - John Nerva
- Department of Neurological Surgery, Medical College of Wisconsin, Milwaukee, WI
| | - Peter Amenta
- Department of Neurological Surgery, University of Massachusetts, Worchester, MA
| | - Arthur Wang
- Department of Neurological Surgery, Tulane Medical Center, New Orleans, LA
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Maksutova M, Kemp MT, Sharma SB, Shen M, Leininger L, Singer AA, Krueger M, Kim GJ, Kwakye G, Alam HB, Sandhu G. "You've Got Gratitude!"- A Multispecialty and Multi-institution Program Encouraging Expressions of Gratitude. JOURNAL OF SURGICAL EDUCATION 2023; 80:1741-1744. [PMID: 37723013 DOI: 10.1016/j.jsurg.2023.08.009] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 06/04/2023] [Revised: 08/11/2023] [Accepted: 08/14/2023] [Indexed: 09/20/2023]
Abstract
OBJECTIVE Efforts to improve physician well-being have focused on gratitude, which predicts health and happiness. Despite reported benefits, expressions of gratitude in healthcare can seem infrequent. Here, we describe Gratitude-Grams, an intervention to cultivate expressions of gratitude throughout a department. METHODS/APPROACH Piloted in our Department of Surgery and adopted by others, Gratitude-Grams employs a web-based platform (Qualtrics). Program feedback was solicited during teaching conferences using an anonymous department survey. RESULTS Gratitude-Grams streamlines and encourages expressions of gratitude while minimizing maintenance, cost, and time. The platform has been highly utilized and well-received in our Department of Surgery. CONCLUSION Expressing and receiving gratitude has been shown to be critical for well-being. Gratitude-Grams is a highly utilized, simple, and attainable system to support expressions of gratitude and is ready for rapid implementation.
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Affiliation(s)
- Mariam Maksutova
- Department of Surgery, University of Pittsburgh Medical Center, Pittsburgh, Pennsylvania.
| | - Michael T Kemp
- Department of Surgery, University of Michigan, Ann Arbor, Michigan
| | | | - Mary Shen
- Department of Surgery, University of Michigan, Ann Arbor, Michigan
| | - Lisa Leininger
- Department of Surgery, Graduate Medical Education Program Administrator, University of Michigan, Ann Arbor, Michigan
| | - Andrew A Singer
- Department of Surgery, Surgical Education Administrative Manager, Northwestern University, Chicago, Illinois
| | - Mackenzie Krueger
- Department of Pediatrics, Division of Pediatric Gastroenterology, University of Michigan, Ann Arbor, Michigan
| | - Grace J Kim
- Department of Surgery, Section of Minimally Invasive Surgery, University of Michigan, Ann Arbor, Michigan
| | - Gifty Kwakye
- Department of Surgery, Section of Colorectal Surgery, University of Michigan, Ann Arbor, Michigan
| | - Hasan B Alam
- Department of Surgery, Northwestern University, Chicago, Illinois
| | - Gurjit Sandhu
- Department of Surgery, University of Michigan, Ann Arbor, Michigan
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Lin CC, Semelsberger S, Saeed AA, Weiss J, Navarro RA, Gianakos AL. Perception of Debt During Resident Education-A Systematic Review. Perm J 2023; 27:99-109. [PMID: 37350090 PMCID: PMC10502380 DOI: 10.7812/tpp/23.025] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 06/24/2023]
Abstract
Debt is a common issue among medical residents in the United States. This review attempts 1) to evaluate the level of debt among residents, 2) to assess perceptions toward debt among residents, 3) to determine debt-management options pursued, and 4) to gauge whether levels of debt affect resident career choices. A systematic literature search of articles published between January 2012 and January 2022 in the MEDLINE, EMBASE, and Cochrane databases was performed. The combination of search terms of (financial literacy OR debt) AND (residency OR graduate medical education) were utilized. Primary outcome measures assessed were the levels of debt and perceptions toward the debt. Secondary outcome measures were debt-management options pursued and whether debt affected career choices for residents. Twenty-one studies evaluating a total of 15,585 residents were included in this systematic review. Levels of debt greater than $200,000 were not uncommon across residents and debt burdens are increasing. Greater levels of debt are associated with increased stress and anxiety. Residents reported multiple debt-management options pursued, including loan forbearance, moonlighting, income-based repayment models, military financial support, and loan forgiveness programs. Those with increased levels of debt were less likely to pursue subspecialty training and academic employment positions. The findings conclude that residents carry a substantial amount of debt, and it is a common source of stress and anxiety. Although there are many different avenues that are pursued for debt repayment, levels of debt appear to affect decisions to pursue subspecialty training and to pursue academic positions. Strategies or programs aimed at reducing the debt burden felt by residents could be of great value.
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Affiliation(s)
- Charles C Lin
- Department of Orthopedic Surgery, New York University Langone Health, New York, NY, USA
| | | | - Ali Al Saeed
- Lake Erie College of Osteopathic Medicine, Lake Erie, PA, USA
| | - Jennifer Weiss
- Department of Orthopaedic Surgery, Kaiser Permanente, Los Angeles, CA, USA
| | - Ronald A Navarro
- Department of Orthopaedic Surgery, Kaiser Permanente, Los Angeles, CA, USA
| | - Arianna L Gianakos
- Department of Orthopaedic Surgery, Yale Medicine, Orthopaedics, and Rehabilitation, New Haven, CT, USA
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Zubair AS, Sivakolundu DK, DeVito M, Dewey JJ. Financial Literacy Among Medical Trainees and Faculty: A Pilot Study. Cureus 2023; 15:e44829. [PMID: 37809136 PMCID: PMC10559332 DOI: 10.7759/cureus.44829] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Grants] [Track Full Text] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Accepted: 09/07/2023] [Indexed: 10/10/2023] Open
Abstract
INTRODUCTION Medical education systems are trained to produce efficient, thorough clinicians. These programs provide limited training on personal finances. The current socioeconomic climate for medical trainees includes increasing education debt and stagnating reimbursement. We conducted a survey-based cross-sectional pilot study at an academic institution targeted at residents, fellows, and attendings of all medical specialties. Our aim was to understand baseline levels of financial literacy at different training and career stages, which can inform targeted interventions to improve this crucial aspect of physician well-being. METHODS A survey was devised with the assistance of a certified financial planner. This survey was distributed at an academic institution targeting residents, fellows, and attendings. The survey was anonymous, and no identifying data were collected. Two reminders were sent to subjects to complete the survey. RESULTS A total of 50 physicians completed the survey in 2021. There were eight responses from interns, 14 responses from residents (post-graduate year 2 or later), 14 responses from fellows, and nine responses from attendings. The majority of our respondents reported not having any particular financial education, and over 70% of respondents reported that their graduate education had not provided them with the tools needed for personal financial success. CONCLUSION Financial education and financial literacy are important topics that need to be further incorporated into the medical education pathway. Physicians are not well equipped in this realm, and further training is necessary. This study provides pilot data that highlight important aspects of physician knowledge and practices in regard to finances.
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Affiliation(s)
| | | | | | - Jeffrey J Dewey
- Neurology, Yale New Haven Hospital, New Haven, USA
- Neurology, Yale School of Medicine, New Haven, USA
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12
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Engel L, Rampling T, Brautigan EJ, Bazin T, Dilts K, Williams T, Dyck TM, Jack EM, Colquhoun H. Review and Consultations of Canadian Financial Education Programs for Individuals with Disabilities. Can J Occup Ther 2023; 90:257-268. [PMID: 36221894 PMCID: PMC10422852 DOI: 10.1177/00084174221129947] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 08/12/2023]
Abstract
Background. Individuals or persons who live with a disability (PWD) can experience unique financial occupation challenges. Financial education programs can address some challenges. Purpose. The aim of this study was to describe and critically appraise current financial education programs for PWD in Canada. Method. This environmental scan framed by scoping review methods included a critical appraisal of Canadian programs' online content and provider consultations. Researchers used four search methods to identify programs, interviewed service providers from four Canadian programs, and thematically analyzed interview transcripts. Findings. Researchers identified 134 programs; 50 (37.3%) included services. The online content of only 26 (19%) programs explicitly addressed accessibility; 106 (79%) programs' content was at least college reading level. The qualitative results include three themes: (a) individualized approach, (b) "getting the word out", and (c) service growth. Implications. There are financial education programs specific to PWD in Canada. Accessibility, individualization, advocacy, and development are needed.
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Affiliation(s)
- Lisa Engel
- Lisa Engel, Department of Occupational Therapy, College of Rehabilitation Sciences, Rady Faculty of Health Sciences, University of Manitoba, R129-771 McDermot Avenue, Winnipeg, MB R3E 0T6, Canada.
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13
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Gianakos AL, Semelsberger SD, Saeed AA, Lin C, Weiss J, Navarro R. The Case for Needed Financial Literacy Curriculum During Resident Education. JOURNAL OF SURGICAL EDUCATION 2023; 80:597-612. [PMID: 36641345 DOI: 10.1016/j.jsurg.2022.12.007] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/03/2022] [Revised: 11/17/2022] [Accepted: 12/25/2022] [Indexed: 06/17/2023]
Abstract
OBJECTIVE Personal physician finance is an overlooked source of stress that negatively impacts resident wellbeing with formal financial education often left out of medical training. This study attempts to (1) evaluate the perceptions of financial literacy, (2) determine the level of financial education incorporated across residency programs, and (3) evaluate the resources that residents utilize to obtain information about managing their personal finances. DESIGN A systematic literature search of articles published between January 2012 to January 2022, in the MEDLINE, EMBASE, and Cochrane databases was performed during February 2022]. The combination of search terms included: (financial literacy OR debt) AND (residency OR graduate medical education). The primary outcome measures included the perception of financial literacy during residency and the type of financial education incorporated during residency. Secondary outcomes included resources utilized to obtain financial education. PARTICIPANTS Twenty-three studies evaluating a total of 5146 residents were included in this systematic review. RESULTS The 42% to 79% of residents responded in surveys that they had "below average" understanding of finance, investing, and savings and that they felt unprepared to handle future financial decisions. 79% to 95% of respondents agreed that personal finance should be taught during residency training. The included studies also demonstrate that residents seek education through personal research, through a family member, or through attending outside financial planning seminars or courses. CONCLUSION This study demonstrates that the majority of residents feel underprepared when making financial decisions and that formal financial education should be incorporated during their residency training. Educating residents can help mitigate financial stress which can improve physician well-being, reduce attrition, and result in better patient care. LEVEL OF EVIDENCE IV.
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Affiliation(s)
- Arianna L Gianakos
- Department of Orthopaedic Surgery, Yale Medicine, Orthopaedics, and Rehabilitation, New Haven, Connecticut.
| | | | - Ali Al Saeed
- Lake Erie College of Osteopathic Medicine, Lake Erie, Pennsylvania
| | - Charles Lin
- Department of Orthopaedic Surgery, New York University Langone Health, New York, New York
| | - Jennifer Weiss
- Department of Orthopaedic Surgery, Kaiser Permanente, Los Angeles, California
| | - Ronald Navarro
- Department of Orthopaedic Surgery, Kaiser Permanente, Los Angeles, California
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Ellwood S, Weathers J, DeMello J, Graves L, Antoun J, Soares N. Personal Financial Well-being of Family Medicine Residents and Residency Curricula: A CERA Study. PRIMER (LEAWOOD, KAN.) 2023; 7:415901. [PMID: 36845848 PMCID: PMC9957455 DOI: 10.22454/primer.2023.415901] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 01/21/2023]
Abstract
Introduction Personal financial wellness is a milestone in graduate medical education. Prior surveys addressing financial wellness have not included family medicine (FM) residents and to date, no literature has explored the relationship between perceived financial well-being and personal finance curriculum in residency. Our study aimed to measure the financial well-being of residents and its association with the delivery of financial curricula in residency and other demographics. Methods Our survey was included in the Council of Academic Family Medicine Educational Research Alliance (CERA) omnibus survey sent to 5,000 FM residents. We use the Consumer Financial Protection Bureau (CFPB) financial well-being guide and scale to measure financial well-being and categorize into low, medium, and high ranges. Results Two hundred sixty-six residents (response rate of 5.32%) responded with a mean financial well-being score of 55.7 (SD 12.1), in the medium score range. Financial well-being was positively associated with any form of personal financial curricula in residency, year in residency, income and citizenship. Most residents 204 (79.1%) agreed/strongly agreed that personal financial curricula are important to their education, and 53 (20.7%) never received personal financial curricula. Conclusions Personal financial well-being scores of family medicine residents are considered medium per the CFPB ranges we assigned. We find a positive and significant association with the presence of personal financial curricula in residency. Future studies should evaluate the effectiveness of different formats of personal finance curriculum in residency on financial well-being.
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Affiliation(s)
- Stephanie Ellwood
- Western Michigan University Homer Stryker M.D. School of Medicine, Kalamazoo, MI
| | - Jamie Weathers
- University of Cincinnati Lindner College of Business, Cincinnati, OH
| | - Jim DeMello
- Western Michigan University Haworth College of Business, Kalamazoo, MI
| | - Lisa Graves
- Western Michigan University Homer Stryker M.D. School of Medicine, Kalamazoo, MI
| | | | - Neelkamal Soares
- Western Michigan University Homer Stryker M.D. School of Medicine, Kalamazoo, MI
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15
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Daily J, Palmer E, Mizell J. A Primer on Retirement Savings for Pediatricians. Clin Pediatr (Phila) 2022:99228221146449. [PMID: 36579855 DOI: 10.1177/00099228221146449] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Indexed: 12/30/2022]
Affiliation(s)
- Joshua Daily
- Arkansas Children's Hospital, Little Rock, AR, USA.,University of Arkansas for Medical Sciences, Little Rock, AR, USA
| | - Edwin Palmer
- Boston Children's Hospital, Boston, MA, USA.,Harvard Medical School, Boston, MA, USA
| | - Jason Mizell
- University of Arkansas for Medical Sciences, Little Rock, AR, USA
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Igu JA, Zakaria S, Bar-Or YD. Systematic review of personal finance training for physicians and a proposed curriculum. BMJ Open 2022; 12:e064733. [PMID: 36572491 PMCID: PMC9806052 DOI: 10.1136/bmjopen-2022-064733] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 05/14/2022] [Accepted: 12/01/2022] [Indexed: 12/27/2022] Open
Abstract
BACKGROUND Many physicians complete medical school and graduate medical education (GME) burdened by high debt and financial illiteracy. This places them at increased risk for ill-informed financial decisions, which can result in increased stress and anxiety and a lower quality of life. Furthermore, financial concerns impact physicians' specialty selections and may partly explain the scarcity of primary care practitioners. In response, medical wellness programmes have increasingly sought to offer personal finance education, but there is little guidance on optimal curricula. Our objective is to systematically review the existing literature examining physician financial literacy curricula and to recommend a standardised personal finance curriculum. METHODS This review used the Preferred Reporting Items for Systematic Reviews and Meta-Analyses 2020 checklist to report the results of literature searches in PubMed, ERIC, MedEdPortal, EBSCO, JSTOR and Google Scholar. Three researchers used predetermined inclusion and exclusion criteria to select articles, including a focus on financial concepts applicable in the USA. Selected articles published between 2000 and 2022 were assessed using the BEME strength of findings tool, and further assessed using modified Côté-Turgeon and Kirkpatrick model qualitative analyses tools. FINDINGS 49 articles met all inclusion criteria. Ten specifically described personal finance literacy curricula for medical students or GME trainees, with varied criteria for selecting instructors, topics and outcomes. All studies reported that audiences were ill prepared for making financial decisions but strongly desired financial literacy education. Qualitative analysis revealed Strength of Findings summary scores ranging from 2 to 4, while applicable Kirkpatrick Model scores were all 3 or greater. Based on these findings, a 14-module personal finance curriculum is proposed by the researchers, along with learning objectives. INTERPRETATION Although medical students and GME trainees value financial literacy, few publications report the impact of actual curricula. These efforts vary in depth, breadth and measured impact. Future research should focus on development of valid testing instruments specifically for physicians, content standardisation, selection of credible instructors and delivery formats.
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Affiliation(s)
- Joel Akachukwu Igu
- Carey Business School, Johns Hopkins University, Baltimore, Maryland, USA
| | - S Zakaria
- School of Medicine, Johns Hopkins University, Baltimore, Maryland, USA
| | - Yuval D Bar-Or
- Carey Business School, Johns Hopkins University, Baltimore, Maryland, USA
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Garrett CC, Doonan RL, Pyle C, Azimov MB. Student loan debt and financial education: a qualitative analysis of resident perceptions and implications for resident well-being. MEDICAL EDUCATION ONLINE 2022; 27:2075303. [PMID: 35583298 PMCID: PMC9122352 DOI: 10.1080/10872981.2022.2075303] [Citation(s) in RCA: 6] [Impact Index Per Article: 3.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Figures] [Subscribe] [Scholar Register] [Received: 01/31/2022] [Revised: 05/04/2022] [Accepted: 05/05/2022] [Indexed: 06/15/2023]
Abstract
High educational debt is prevalent among resident physicians and correlates with adverse well-being outcomes, including symptoms of stress and burnout. Residents also report low financial literacy levels, affecting financial well-being. Understanding resident viewpoints toward financial well-being initiatives is crucial to develop targeted resident financial well-being programs. This study aims to examine residents' experiences financing their medical education and how these experiences influence well-being and attitudes toward financial education in residency. We recruited residents from a Southern California health system with residency programs in Family Medicine, Internal Medicine, General Surgery, Orthopaedic Surgery, and Psychiatry. We contacted residents by email and text message to participate in semi-structured interviews. We conducted interviews from October 2020 to March 2021 and analyzed 59 resident interviews using reflexive thematic analysis. Among residents, 76% (45/59) had ≥ $200,000 in student loans. Residents perceived mounting medical education debt as unfairly burdensome for trainees engaged in socially beneficial work, leaving residents feeling undervalued - a feeling heightened by the stressors of the COVID-19 pandemic - and hampering well-being. Compartmentalizing debt attenuated financial stressors but often made financial education seem less pressing. A subset of residents described how financial planning restored some agency and enhanced well-being, noting that protected didactic time for financial education was crucial. Resident interviews provide practical guidance regarding designing financial education sessions. Desired education included managing debt, retirement planning, and the business of medicine. How residents framed educational debt and their degree of financial literacy impacted their well-being and sense of agency. Residents proposed that residency programs can aid in stress mitigation by providing residents with skills to help manage debt and plan for retirement. To reduce clinician indebtedness, this approach needs to occur in tandem with systemic changes to financing medical education.
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Affiliation(s)
- Cameryn C. Garrett
- Graduate Medical Education, Community Memorial Health System, Ventura, California, USA
| | - Ronda L. Doonan
- Graduate Medical Education, Community Memorial Health System, Ventura, California, USA
| | - Casey Pyle
- Orthopaedic Surgery Residency Program, Community Memorial Health System, Ventura, California, USA
| | - Michelle B. Azimov
- Graduate Medical Education, Community Memorial Health System, Ventura, California, USA
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18
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Muacevic A, Adler JR, McCloskey K. Efficacy of Peer-to-Peer Education for Emergency Medicine Resident Financial Literacy: Curriculum Development Study. Cureus 2022; 14:e32668. [PMID: 36660528 PMCID: PMC9845058 DOI: 10.7759/cureus.32668] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Accepted: 12/17/2022] [Indexed: 12/23/2022] Open
Abstract
BACKGROUND Early career physicians are under enormous stress from rigorous academic demands and financial insecurity due to increasingly large loan burdens and stagnant income. There are no institutionally required training programs to educate professionals on financial pitfalls or strategies for overcoming these burdens. Fiscal ignorance leaves them in a vulnerable position to be taken advantage of often, at great personal cost. METHODS Using a cross-sectional, convenience sample of emergency medicine residents at a single center, we evaluated the benefit of a six-month curriculum on financial education. Focusing on topics that were most pertinent early in medical careers, we assessed the utility of a six-lecture series totaling three hours of education on fundamental financial literacy. Lectures were given by a single educator with no formal financial background in the following areas: general principles, student loans, retirement accounts, basic taxes, real estate, and insurance. RESULTS Using pre-test and post-test information on 55 residents, financial literacy, as assessed by a 24-question multiple-choice survey, increased from 50% to 62% (p=<.001). Subgroup analysis was also performed within each financial category as well as by postgraduate year (PGY) of training. Raw data of individual percentages achieving specific financial milestones demonstrated an objective increase in the number of residents contributing to retirement accounts, creating an emergency fund, and establishing student loan repayment plans after the curriculum. CONCLUSIONS Programs can institute sufficient financial literacy education for trainees that covers financial foundations. These programs can be taught without financial professional expertise or long hours of didactics.
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Khaja MS, Contrella BN, Wilkins LR, Pyne R, Majdalany BS, Rajebi R, Saad WE, Findeiss L. Issues Most Pressing to Early-Career Interventional Radiologists: Results of a Descriptive Survey. Acad Radiol 2022; 29:1730-1738. [PMID: 33726963 DOI: 10.1016/j.acra.2021.02.023] [Citation(s) in RCA: 5] [Impact Index Per Article: 2.5] [Reference Citation Analysis] [Abstract] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 01/21/2021] [Revised: 02/14/2021] [Accepted: 02/24/2021] [Indexed: 11/25/2022]
Abstract
PURPOSE To determine demographics, practice patterns, needs from Society of Interventional Radiology (SIR), and preferences of interventional radiologists (IRs) early in their careers. METHODS A 28-question descriptive survey was used to identify demographic and practice composition, practice issues, and needs of early career IRs. The survey was distributed to SIR members in the United States (US) (n = 859) within the first 8 years of practice, with 213 respondents (25%). RESULTS Respondents were primarily male (n = 181, 87%), less than 40 years old (n = 156, 73%), in practice for 6 years or less (n = 167, 79%), and satisfied with IR as a career (n = 183, 92.4%). The majority were in academic practice (n = 89, 43.2%) or large private practice group (n = 67, 32.5%). Most respondents read diagnostic imaging daily or weekly (n = 130, 61%). The majority of respondents perform complex procedures regularly including transarterial tumor therapy, percutaneous tumor ablation, peripheral arterial interventions, and biliary interventions monthly. Many respondents (n = 49, 23%) have changed jobs at least once citing career advancement, practice issues/disagreements, or compensation as reason. Most respondents would serve as mentors (n = 170, 80%) for trainees and were satisfied with their career mentorship (n = 166, 78%). Respondents felt that mentorship, identification of barriers facing early career IRs, and networking should be the most important functions of the Early Career Section (ECS)of the SIR. CONCLUSION As nearly all survey respondents indicated that early career IRs have different needs and priorities than established physicians, they felt that mentorship, identification of barriers facing early career IRs, and networking should be the most important functions of the ECS. Additionally, this same group of IRs report low comfort with the business side of medicine and may benefit from directed content provided by the SIR ECS.
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Affiliation(s)
- Minhaj S Khaja
- Division of Vascular and Interventional Radiology, Department of Radiology & Medical Imaging, University of Virginia Health, 1215 Lee St. PO BOX 800700, Charlottesville, VA 22908.
| | - Benjamin N Contrella
- Division of Vascular and Interventional Radiology, Department of Radiology & Medical Imaging, University of Virginia Health, 1215 Lee St. PO BOX 800700, Charlottesville, VA 22908
| | - Luke R Wilkins
- Division of Vascular and Interventional Radiology, Department of Radiology & Medical Imaging, University of Virginia Health, 1215 Lee St. PO BOX 800700, Charlottesville, VA 22908
| | - Raj Pyne
- Rochester Regional Health System; Rochester, New York
| | - Bill S Majdalany
- Division of Interventional Radiology and Image-Guided Medicine, Department of Radiology and Imaging Sciences, Emory University School of Medicine; Atlanta, Georgia
| | - Reza Rajebi
- Precision Vascular and Interventional Radiology, Dallas, Texas
| | - Wael E Saad
- Department of Radiology and Imaging Sciences, National Institutes of Health, Bethesda, Maryland
| | - Laura Findeiss
- Division of Interventional Radiology and Image-Guided Medicine, Department of Radiology and Imaging Sciences, Emory University School of Medicine; Atlanta, Georgia
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JAIN GAURAV, AGRAWAL VIKESH, SHARMA DHANANJAYA, AGARWAL PAWAN, YADAV SANJAYKUMAR, GUPTA VISHAL. Personal financial literacy among Indian postgraduate residents. THE NATIONAL MEDICAL JOURNAL OF INDIA 2022; 35:105-107. [DOI: 10.25259/nmji_984_20] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/07/2022]
Abstract
Background
Postgraduate residents’ ability to understand and effectively manage their finances is variable. We conducted this study to assess the awareness of personal financial literacy among Indian residents.
Methods
We circulated a web-based cross-sectional Google Forms multiple-choice questionnaire having questions in three categories including financial awareness, current financial status and plans among 400 Indian residents.
Results
A total of 215 Indian residents (53.75%) responded to the survey (men 80.9%, unmarried 74.4% and pursuing broad specialties 83.3%). The majority were unaware of stocks, special student/doctor loans, tax planning, life insurance, professional indemnity and tax/financial planning. The majority opined that personal finance and investing should be taught at medical school/residency. A financial pyramid based on the hierarchy of needs is proposed.
Conclusion
Lack of financial literacy and planning was seen among the majority of Indian residents. Our study highlights this gap in the medical curriculum and the need for formal structured financial education during training.
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Affiliation(s)
- GAURAV JAIN
- Aurora St Luke’s Transplant Program, University of Wisconsin School of Medicine and Public Health, Milwaukee, Wisconsin, USA
| | - VIKESH AGRAWAL
- Department of Surgery, NSCB Government Medical College, Jabalpur 482003, Madhya Pradesh, India
| | - DHANANJAYA SHARMA
- Department of Surgery, NSCB Government Medical College, Jabalpur 482003, Madhya Pradesh, India
| | - PAWAN AGARWAL
- Department of Surgery, NSCB Government Medical College, Jabalpur 482003, Madhya Pradesh, India
| | - SANJAY KUMAR YADAV
- Department of Surgery, NSCB Government Medical College, Jabalpur 482003, Madhya Pradesh, India
| | - VISHAL GUPTA
- Department of Surgery, King George Medical University, Lucknow, Uttar Pradesh, India
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Kim K, Ye GY, Haddad AM, Kos N, Zisook S, Davidson JE. Thematic analysis and natural language processing of job-related problems prior to physician suicide in 2003-2018. Suicide Life Threat Behav 2022; 52:1002-1011. [PMID: 35766392 DOI: 10.1111/sltb.12896] [Citation(s) in RCA: 3] [Impact Index Per Article: 1.5] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 04/05/2022] [Accepted: 06/14/2022] [Indexed: 11/30/2022]
Abstract
INTRODUCTION Although previous studies have consistently demonstrated that physicians are more likely than non-physicians to experience work-related stressors prior to suicide, the specific nature of these stressors remains unknown. The current study aimed to better characterize job-related problems prior to physician suicide. METHODS The study utilized a mixed methods approach combining thematic analysis and natural language processing to develop themes representing death investigation narratives of 200 physician suicides with implicated job problems in the National Violent Death Reporting System database between 2003 and 2018. RESULTS Through thematic analysis, six overarching themes were identified: incapacity to work due to deterioration of physical health, substance use jeopardizing employment, interaction between mental health and work-related issues, relationship conflict affecting work, legal problems leading to work-related stress, and increased financial stress. Natural language processing analysis confirmed five of these themes and elucidated important subthemes. CONCLUSIONS This is the first known study that integrated thematic analysis and natural language processing to characterize work-related stressors preceding physician suicide. The findings highlight the importance of bolstering systemic support for physicians experiencing job problems associated with their physical and mental health, substance use, relationships, legal matters, and finances in suicide prevention efforts.
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Affiliation(s)
- Kristen Kim
- Department of Psychiatry, University of California San Diego, La Jolla, California, USA
| | - Gordon Y Ye
- Department of Psychiatry, University of California San Diego, La Jolla, California, USA
| | | | - Nicholas Kos
- Department of Psychiatry, University of California San Diego, La Jolla, California, USA
| | - Sidney Zisook
- Department of Psychiatry, University of California San Diego, La Jolla, California, USA
| | - Judy E Davidson
- Department of Psychiatry, University of California San Diego, La Jolla, California, USA.,University of California San Diego Health, La Jolla, California, USA
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Agarwal N, Biswas B. Financial literacy and its correlates among healthcare professionals of India: An ignored educational need. JOURNAL OF EDUCATION AND HEALTH PROMOTION 2022; 11:246. [PMID: 36177428 PMCID: PMC9514280 DOI: 10.4103/jehp.jehp_1129_21] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Subscribe] [Scholar Register] [Received: 07/31/2021] [Accepted: 02/11/2022] [Indexed: 06/16/2023]
Abstract
BACKGROUND Financial literacy is a person's capability to manage their own monetary matters. There was no information available on financial literacy status of healthcare professionals (HCPs) of India. So, the current research was formulated to assess the financial literacy status and its correlates among HCPs of India. MATERIALS AND METHODS It was an observational study, cross-sectionally designed, conducted among 524 HCPs of India using a structured Google form during July 2020. For data analysis, SPSS (version 22) was used. RESULTS Among the study participants, 68.3% were found to be financially literate. Among the various subdomains of the total financial literacy, knowledge regarding general domain was observed to be the best (69.3%) followed by savings (63.7%) and investment (58.0%) domains, respectively. The total financial literacy score was found to be positively correlated with higher age [spearman rho correlation co-efficient (ρ) = 0.25; P =< 0.01], qualification [(medical postgraduate) (ρ= 0.16; P =< 0.01); (medical super speciality) (ρ = 0.14; P =< 0.01)], and annual family income (ρ= 0.29; P =< 0.01). Moreover, males (ρ= 0.23; P =< 0.01)], currently married (ρ= 0.19; P =< 0.01), and surgeons (ρ= 0.12; P =< 0.01) were found to be more financially literate compared with others. Positive financial attitude (ρ= 0.26; P =< 0.01) and regular maintenance of financial record (ρ= 0.21; P =< 0.01) were the other enabling factors of financial literacy observed in the study. CONCLUSIONS Financial literacy was found to be quite low in the surveyed HCPs as every third study participant were found to be deficient in knowledge regarding one or more financial attributes. Incorporation of finance management in curriculum of the healthcare allied courses and repeated sensitization of the graduated HCPs are warranted to enable them to take effective financial decisions to meet their personal and organizational financial goals.
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Affiliation(s)
- Neeraj Agarwal
- Department Community and Family Medicine, All India Institute of Medical Sciences, Bibinagar, Telangana, India
| | - Bijit Biswas
- Department of Community Medicine and Family Medicine, All India Institute of Medical Sciences, Gorakhpur, Uttar Pradesh, India
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McMichael B, Lee Iv A, Fallon B, Matusko N, Sandhu G. Racial and socioeconomic inequity in the financial stress of medical school. MEDEDPUBLISH 2022; 12:3. [PMID: 36168540 PMCID: PMC9370082 DOI: 10.12688/mep.17544.2] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Journal Information] [Subscribe] [Scholar Register] [Accepted: 06/08/2022] [Indexed: 11/28/2022] Open
Abstract
Background: The authors analyzed the distribution of medical student debt and identified demographic features that placed students at high risk for increased debt and financial stress. Methods: From April to May 2019, a cross-sectional, anonymous, web-based survey was administered to first-year (M1) to fourth-year (M4) medical students at the University of Michigan to assess financial literacy, debt burden, financial stress, and demographic factors. A total of 216 of 680 (32%) students completed the survey. Respondents voluntarily answered 15 multiple-choice questions on personal finance and 30 questions on their demographics, current financial situation, and debt burden. To quantify debt burden, students estimated anticipated education-related debt in one of four categories: no debt, $1-99,999; $100,000-$199,999; and $200,000 or more. A chi-square test was used to identify associations between categorical variables and logistic regression was used to identify risk factors for debt and worry. Results: Fifty-four respondents (25%) reported $0 in education related debt, while 44 (16%) had $200,000 or more. Race (p=0.006), first-generation college student status (p=0.004), first-generation medical student status (p<0.001), household income (p<0.001), and parental education (p=0.008) were associated with higher levels of debt. Students who were underrepresented in medicine (URiM) had higher odds of higher debt compared to Arab and Asian students (p=0.02). URiM students (p=0.02), first-generation college students (p=0.009), and parental education (p=0.01) were associated with increased financial stress. Additionally, female students had higher odds of increased financial stress (OR=1.85, p=0.045) on logistic regression. Conclusions: URiM and socioeconomically disadvantaged students feel the burden of the high cost of medical school disproportionately more, suggesting that our current systems are not adequately supporting these students. Reducing this burden may serve to further promote diversity in medicine.
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Affiliation(s)
- Brennan McMichael
- Department of Surgery, University of Michigan, Ann Arbor, MI, 48109, USA
| | - Anderson Lee Iv
- Department of Anesthesia, University of Michigan, Ann Arbor, MI, 48109, USA
| | - Brian Fallon
- Department of Surgery, University of Michigan, Ann Arbor, MI, 48109, USA
| | - Niki Matusko
- Department of Surgery, University of Michigan, Ann Arbor, MI, 48109, USA
| | - Gurjit Sandhu
- Department of Surgery, University of Michigan, Ann Arbor, MI, 48109, USA
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Poon E, Bissonnette P, Sedighi S, MacNevin W, Kulkarni K. Improving Financial Literacy Using the Medical Mini-MBA at a Canadian Medical School. Cureus 2022; 14:e25595. [PMID: 35795516 PMCID: PMC9250131 DOI: 10.7759/cureus.25595] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Download PDF] [Journal Information] [Subscribe] [Scholar Register] [Accepted: 06/02/2022] [Indexed: 11/07/2022] Open
Abstract
Introduction Financial literacy correlates with less debt and better retirement planning. Medical students, residents, and physicians often have poor financial literacy and large amounts of debt. We measured baseline financial literacy and whether it improved with the administration of a financial literacy course. Methods We created the Medical Mini-MBA,a six-week financial literacy course that targeted gaps in financial literacy among medical students and residents. Weekly topics included personal finance, investing, real estate and mortgage, physician billing and payment models, income and tax, and choosing a medical specialty. A 46-question financial literacy assessment was delivered to participants before and after the course. Results Of the 276 who participated in the course, 179 (64.86%) participated in the study. Participants who completed the course improved their financial literacy score by 10.10/46.00±5.12 (n=93, p<0.001). Self-assessment of financial literacy was positively correlated with financial literacy exam scores (r=0.366, p<0.001). Demographics such as gender, geography, education level, and first-degree relatives who are/were physicians had no effect on financial literacy scores. Conclusions The Medical Mini-MBA improved financial literacy at a Canadian medical school. Implementation of the coursemay equip medical students and residents for financial decisions. It avoids financial conflicts of interest and can supplement the medical curriculum.
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Barrett JR, Leonard LD, Kovar A, McCarthy DP, Harms B, Tevis S. Medically Smart, Fiscally Illiterate: Lack of Financial Education Leads to Poor Retirement Savings Strategies in Surgical Trainees. Am Surg 2022:31348221096579. [PMID: 35506914 DOI: 10.1177/00031348221096579] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/17/2022]
Abstract
INTRODUCTION Resident physicians are uniquely at high financial risk given their long training programs, lack of financial education, and documented poor financial literacy. Budgeting for retirement savings is an important metric for financial literacy. METHODS Semi-structured interviews were conducted with residents from two distinct surgery programs to assess their current financial status and their knowledge of and attitudes toward retirement savings strategies. Qualitative analysis was performed and the themes identified were examined in the context of previously reported quantitative survey data. RESULTS As previously reported, 105 residents at Site 1 completed a comprehensive financial survey 56% of respondents reported having no retirement savings. On additional analysis, only 26% residents surveyed reported optimal savings habits defined as contributing $5000/year to a retirement account starting their first year of training. 23 residents from both sites and representing all post-graduate-year (PGY) levels then participated in the focused, semi-structured interviews. Site 2 residents were less likely to be female (P = .02) and carried a significantly larger debt burden (p < .01) but were otherwise comparable to residents from Site 1. On qualitative analysis three consistent themes emerged: (1) Resident understanding of strategies for retirement savings is poor; (2) Lack of knowledge is the primary barrier; (3) Surgical residents desire financial education. CONCLUSIONS Surgery residents have a large debt burden, minimal retirement savings and an overall lack of understanding of savings strategies. Well-designed, early, and accessible educational interventions may improve the "financial vital signs" of surgical trainees and establish habits for long-term financial success.
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Affiliation(s)
- James R Barrett
- Department of Surgery, 5232University of Wisconsin, Madison, WI, USA
| | - Laura D Leonard
- Department of Surgery, 129263University of Colorado, Anschutz Medical Campus, Aurora, CO, USA
| | - Alexandra Kovar
- Department of Surgery, 129263University of Colorado, Anschutz Medical Campus, Aurora, CO, USA
| | | | - Bruce Harms
- Department of Surgery, 5232University of Wisconsin, Madison, WI, USA
| | - Sarah Tevis
- Department of Surgery, 129263University of Colorado, Anschutz Medical Campus, Aurora, CO, USA
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Ng P, Raghavan S, Zhang C, Pan JY, O'Rourke P, Wong R. Money Talks: Pilot Financial Wellness Programs to Promote Positive Financial Planning Behaviors Among Residents. ACADEMIC MEDICINE : JOURNAL OF THE ASSOCIATION OF AMERICAN MEDICAL COLLEGES 2022; 97:380-384. [PMID: 34554942 DOI: 10.1097/acm.0000000000004429] [Citation(s) in RCA: 2] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 06/13/2023]
Abstract
PROBLEM Graduate medical education programs and national organizations are becoming more involved in promoting trainee financial wellness. Current literature reports residents have poor financial knowledge, high debt levels, low concern about their finances, and deficits in financial preparedness, but there has been little published on best practices for implementing financial wellness programs for residents or measuring meaningful outcomes of such programs. APPROACH From June 2017 to 2019, the authors invited 277 internal medicine residents from the Stony Brook University Hospital, Montefiore Medical Center, and Johns Hopkins Bayview Medical Center residency programs to participate in financial wellness programs. Each institution held at least one 90-minute financial planning session; Stony Brook also had biannual financial wellness check-ins. Participants were invited to complete a presession, an immediate postsession, and a year-end survey to assess changes in financial planning behaviors. OUTCOMES Survey response rates were 49% (135/277) for the presession survey, 47% (130/277) for the immediate postsession survey, and 22% (61/277) for the year-end survey. Ninety-six percent (125/130) found the sessions helpful and 98% (120/123) recommended continuing the program in the future. At year-end, the most frequent completed financial planning actions prompted by the session included saving emergency funds, creating a monthly budget, consolidating loans via the Public Service Loan Forgiveness program, contributing to retirement savings, and participating in an employer's retirement plan. Residents liked that some sessions were during intern orientation before the selection of retirement plans. Postgraduate year (PGY) 1 residents were more likely to complete positive financial planning actions and to agree or strongly agree that the session prompted them to take financial planning actions than PGY-2 and PGY-3 residents. NEXT STEPS While financial wellness programs are well received by internal medicine residents, more robust evidence is needed on curricular delivery methods and program features that promote positive financial planning behaviors.
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Affiliation(s)
- Patricia Ng
- P. Ng is assistant professor of clinical medicine, Department of Medicine, Stony Brook University Hospital, Stony Brook, New York; ORCID: https://orcid.org/0000-0003-1900-6931
| | - Sreekala Raghavan
- S. Raghavan was assistant professor of medicine, Department of Medicine, North Shore University Hospital, Northwell Health, Manhasset, New York, and Long Island Jewish Medical Center, Northwell Health, New Hyde Park, New York, at the time of writing. She is now program director, Internal Medicine Residency Program, Mount Sinai Beth Israel, Icahn School of Medicine at Mount Sinai, New York, New York; ORCID: https://orcid.org/0000-0001-9645-2463
| | - Christiana Zhang
- C. Zhang is assistant professor of medicine, Department of Medicine, Johns Hopkins University School of Medicine, Baltimore, Maryland; ORCID: https://orcid.org/0000-0002-3190-9503
| | - Jing-Yu Pan
- J.-Y. Pan is assistant professor, Department of Medicine, Montefiore Medical Center, New York, New York; ORCID: https://orcid.org/0000-0002-0522-2679
| | - Paul O'Rourke
- P. O'Rourke is assistant professor of medicine, Department of Medicine, Johns Hopkins University School of Medicine, Baltimore, Maryland; ORCID: https://orcid.org/0000-0002-4790-6921
| | - Rachel Wong
- R. Wong is assistant professor of clinical medicine, Department of Medicine, Stony Brook University Hospital, Stony Brook, New York; ORCID: https://orcid.org/0000-0003-3108-7324
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How do orthopaedic surgery residency program websites feature diversity? An analysis of 187 orthopaedic surgery programs in the United States. CURRENT ORTHOPAEDIC PRACTICE 2022; 33:258-263. [PMID: 35685001 PMCID: PMC9173404 DOI: 10.1097/bco.0000000000001101] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/25/2022]
Abstract
Background The orthopaedic surgery residency program website represents a recruitment tool that can be used to demonstrate a program's commitment to diversity and inclusion to prospective applicants. The authors assessed how orthopaedic surgery residency programs demonstrated diversity and inclusion on their program websites and whether this varied based on National Institutes of Health (NIH) funding, top-40 medical school affiliation, university affiliation, program size, or geographic region. Methods The authors evaluated 187 orthopaedic surgery residency program websites for the presence of 12 elements that represented program commitment to diversity and inclusion values, based on prior work and ACGME recommendations. Mann-Whitney U and Kruskal-Wallis tests were used to assess whether NIH funding and other program characteristics were associated with commitment to diversity and inclusion on affiliated residency websites. Results Orthopaedic surgery residency websites included a mean of 4.9 ± 2.1 diversity and inclusion elements, with 21% (40/187) featuring a majority (7+) of elements. Top 40 NIH funded programs (5.4 ± 2.0) did not have significantly higher website diversity scores when compared with nontop-40 programs (4.8 ± 2.1) (P = 0.250). University-based or affiliated programs (5.2 ± 2.0) had higher diversity scores when compared with community-based programs (3.6 ± 2.2) (P = 0.003). Conclusions Most orthopaedic surgery residency websites contained fewer than half of the diversity and inclusion elements studied, suggesting opportunities for further commitment to diversity and inclusion. Inclusion of diversity initiatives on program websites may attract more diverse applicants and help address gender and racial or ethnic disparities in orthopaedic surgery. Level of Evidence Level V.
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Financial Literacy in Orthopaedic Surgery Residents: A COERG Survey. J Am Acad Orthop Surg Glob Res Rev 2022; 6:01979360-202202000-00006. [PMID: 35133993 PMCID: PMC8826965 DOI: 10.5435/jaaosglobal-d-21-00276] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Download PDF] [Journal Information] [Subscribe] [Scholar Register] [Received: 10/28/2021] [Accepted: 10/30/2021] [Indexed: 11/18/2022]
Abstract
Introduction: Financial literacy is the individual ability and skill to make informed decisions in the management of resources within the financial marketplace to yield a lifetime of financial well-being. Residents across several subspecialties have demonstrated low levels of financial literacy, and it is thought that more financial education is needed during residency training. The purpose of this study is to perform a comprehensive evaluation on financial literacy and financial attitudes of orthopaedic surgery residents. The authors hypothesize that orthopaedic residents will have low levels of financial literacy and financial satisfaction. Methods: A 46-question anonymous survey was administered through COERG (Collaborative Orthopaedic Educational Research Group) to 1028 orthopaedic surgery residents of all postgraduate year at 43 programs with broad national distribution. Resident demographics and survey responses regarding knowledge of finance and investment topics, application of financial principles, and personal financial status were compared. Results: The survey response rate was 48% (494/1028). The average financial literacy score of all orthopaedic resident participants was 60.9% (±16.5%). A total of 35.5% of orthopaedic residents were satisfied with their current financial situation. Saving for retirement and lower loan burdens correlated with greater financial satisfaction in financial situation. Scores were higher in orthopaedic residents with greater childhood annual household income, no credit card debt, higher levels of parent education, and active retirement savings plans. Conclusions: Orthopaedic residents show significant deficits in overall financial and investment knowledge combined with a dissatisfaction with financial situations while in residency. Orthopaedic residency programs have the opportunity to implement program-sponsored training and financial resources to enhance the resident education experience.
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McMichael B, Lee IV A, Fallon B, Matusko N, Sandhu G. Racial and socioeconomic inequalities in the financial stress of medical school. MEDEDPUBLISH 2022. [DOI: 10.12688/mep.17544.1] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/20/2022] Open
Abstract
Background: The authors analyzed the distribution of medical student debt and identified demographic features that placed students at high risk for increased debt and financial stress. Methods: From April to May 2019, a cross-sectional, anonymous, web-based survey was administered to first-year (M1) to fourth-year (M4) medical students at the University of Michigan to assess financial literacy, debt burden, financial stress, and demographic factors. A total of 216 of 680 (32%) students completed the survey. Respondents voluntarily answered 15 multiple-choice questions on personal finance and 30 questions on their demographics, current financial situation, and debt burden. To quantify debt burden, students estimated anticipated education-related debt in one of four categories: no debt, $1–99,999; $100,000–$199,999; and $200,000 or more. A chi-square test was used to identify associations between categorical variables and logistic regression was used to identify risk factors for debt and worry. Results: Fifty-four respondents (25%) reported $0 in education related debt, while 44 (16%) had $200,000 or more. Race (p=0.006), first-generation college student status (p=0.004), first-generation medical student status (p<0.001), household income (p<0.001), and parental education (p=0.008) were associated with higher levels of debt. Students who were underrepresented in medicine (URiM) had higher odds of higher debt compared to Arab and Asian students (p=0.02). URiM students (p=0.02), first-generation college students (p=0.009), and parental education (p=0.01) were associated with increased financial stress. Additionally, female students had higher odds of increased financial stress (OR=1.85, p=0.045) on logistic regression. Conclusions: URiM and socioeconomically disadvantaged students feel the burden of the high cost of medical school disproportionately more, suggesting that our current systems are not adequately supporting these students. Reducing this burden may serve to further promote diversity in medicine.
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Gao W, Li W, Zang Y, Zhong Y, Wu H. Stratification of Health Professional Education and Its Funding Disparities: Evidence From China During the Period of 1998–2017. Front Public Health 2022; 9:800163. [PMID: 35118045 PMCID: PMC8805589 DOI: 10.3389/fpubh.2021.800163] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Abstract] [MESH Headings] [Grants] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 10/22/2021] [Accepted: 12/09/2021] [Indexed: 11/30/2022] Open
Abstract
Background: The finance of health professional education (HPE) is of immense importance for effective and sustainable health systems, yet relevant empirical research was scarce due to the lack of financial data. The study aimed to bridge the gap by presenting the scenario of finance for health professional institutions (HPIs) of different tiers in China and exploring how the stratification of institutions affected their funding disparities. Methods: The study employed data collected from the Ministry of Education in China, and selected the HPIs mainly based on the World Directory of Medical Schools. The funding levels and disparities of China's HPIs during the period (1998–2017) were analyzed with descriptive statistics, and the indicators of funding per institution and funding per student were both considered. The average funding in HPIs was presented by tiers, and the Gini coefficient and Theil index were employed to describe the differences in financing among HPIs over the span. Results: The study found that the number of HPIs has kept growing over the past two decades, with both the funding per institution and the funding per student increasing steadily. Specifically, the average funding per institution of the three tiers increased by 31.5 times, 13.4 times, and 10.5 times separately, with the first-tier universities having an absolute advantage compared to lower tiers. As for the financing disparities among HPIs, the Gini coefficient of the funding per institution maintained to be over 0.5, with the third-tier institutions scoring the highest, while the Gini coefficient of the funding per student all ranged approximately from 0.2 to 0.3. Through the decomposition of the inequalities measured by the Theil index, the share of the between-tier difference in per-institution funding grew from 29.7 in 1998 to 77.9% in 2017. Conclusions: The funding disparities between tiers of HPIs in China gradually became more accentuated, with the top-tier institutions taking up the largest share. Although the stratified development in HPE has posed a challenge to the unified quality assurance of medical personnel training, it may also be regarded as an effective pathway for developing countries like China to achieve stable development in health professional education.
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Affiliation(s)
- Wenjuan Gao
- Institute of Higher Education, Beihang University, Beijing, China
| | - Wenzhuo Li
- Education Section, Aerospace Center Hospital/Peking University Aerospace School of Clinical Medicine, Beijing, China
| | - Yue Zang
- Institute of Medical Education, Peking University, Beijing, China
- Graduate School of Education, Peking University, Beijing, China
| | - Yuxin Zhong
- Institute of Medical Education, Peking University, Beijing, China
- Graduate School of Education, Peking University, Beijing, China
| | - Hongbin Wu
- Institute of Medical Education, Peking University, Beijing, China
- National Center for Health Professions Education Development, Peking University, Beijing, China
- *Correspondence: Hongbin Wu
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Ogunkua OT, Okoro EN, Smith MN, Trousdale DM, Byerly SI, Steiner JW. Can financial literacy be a solution for physician burnout? J Clin Anesth 2021; 77:110594. [PMID: 34798432 DOI: 10.1016/j.jclinane.2021.110594] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 09/23/2021] [Revised: 11/07/2021] [Accepted: 11/09/2021] [Indexed: 10/19/2022]
Affiliation(s)
- Olutoyosi T Ogunkua
- Department of Anesthesiology and Pain Management, University of Texas Southwestern Medical Center, Dallas, TX, USA.
| | - Ejike N Okoro
- Department of Anesthesiology and Pain Management, University of Texas Southwestern Medical Center, Dallas, TX, USA
| | - Miakka N Smith
- Department of Anesthesiology and Pain Management, University of Texas Southwestern Medical Center, Dallas, TX, USA
| | - Devin M Trousdale
- Department of Anesthesiology and Pain Management, University of Texas Southwestern Medical Center, Dallas, TX, USA
| | - Stephanie I Byerly
- Department of Anesthesiology and Pain Management, University of Texas Southwestern Medical Center, Dallas, TX, USA
| | - Jeffrey W Steiner
- Department of Anesthesiology and Pain Management, University of Texas Southwestern Medical Center, Dallas, TX, USA; Outcomes Research Consortium, Cleveland, OH, USA
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Huebinger RM, Hussain R, Tupchong K, Walia S, Fairbrother H, Rogg J. Survey-based Evaluation of Resident and Attending Financial Literacy. West J Emerg Med 2021; 22:1369-1373. [PMID: 34787564 PMCID: PMC8597697 DOI: 10.5811/westjem.2021.8.53016] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 05/03/2021] [Accepted: 08/21/2021] [Indexed: 11/11/2022] Open
Abstract
INTRODUCTION Physician finances are linked to wellness and burnout. However, few physicians receive financial management education. We sought to determine the financial literacy and educational need of attending and resident physician at an academic emergency medicine (EM) residency. METHODS We performed a cross-sectional, survey study at an academic EM residency. We devised a 49-question survey with four major domains: demographics (16 questions); Likert-scale questions evaluating value placed on personal finances (3 questions); Likert-scale questions evaluating perceived financial literacy (11 questions); and a financial literacy test based on previously developed and widely used financial literacy questions (19 questions). We administered the survey to EM attendings and residents. We analyzed the data using descriptive statistics and compared attending and resident test question responses. RESULTS A total of 44 residents and 24 attendings responded to the survey. Few (9.0% of residents, 12.5% of attendings) reported prior formal financial education. However, most respondents (70.5% of residents and 79.2% of attendings) participated in financial self-learning. On a five-point Likert scale (not at all important: very important), respondents felt that financial independence (4.7 ± 0.8) and their finances (4.7±0.8) were important for their well-being. Additionally, they valued being prepared for retirement (4.7±0.9). Regarding perceived financial literacy (very uncomfortable: very comfortable), respondents had the lowest comfort level with investing in the stock market (2.7±1.5), applying for a mortgage (2.8±1.6), and managing their retirement (3.0±1.4). Residents scored significantly lower than attendings on the financial literacy test (70.8% vs 79.6%, P<0.01), and residents scored lower on questions pertaining to investment (78.8% v 88.9%, P<0.01) and insurance and taxes (47.0% v 70.8%, P<0.01). Overall, respondents scored lower on questions about retirement (58.8%, P<0.01) and insurance and taxes (54.7%, P<0.01). CONCLUSION Emergency physicians' value of financial literacy exceeded confidence in financial literacy, and residents reported poorer confidence than attendings. We identified deficiencies in emergency physicians' financial literacy for retirement, insurance, and taxes.
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Affiliation(s)
- Ryan M Huebinger
- McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Emergency Medicine, Houston, Texas
| | - Rahat Hussain
- McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Internal Medicine, Houston, Texas
| | - Keegan Tupchong
- McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Emergency Medicine, Houston, Texas.,McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Internal Medicine, Houston, Texas
| | - Shabana Walia
- McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Emergency Medicine, Houston, Texas
| | - Hilary Fairbrother
- McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Emergency Medicine, Houston, Texas
| | - Jonathan Rogg
- McGovern Medical School at The University of Texas Health Science Center at Houston (UTHealth), Department of Emergency Medicine, Houston, Texas
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Scholarly opportunities for medical students and residents in United States professional radiology organizations. Clin Imaging 2021; 80:199-201. [PMID: 34340202 DOI: 10.1016/j.clinimag.2021.07.018] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 05/27/2021] [Revised: 07/12/2021] [Accepted: 07/20/2021] [Indexed: 11/23/2022]
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Lu DW, Germann CA, Nelson SW, Jauregui J, Strout TD. "Pulling the Parachute": A Qualitative Study of Burnout's Influence on Emergency Medicine Resident Career Choices. AEM EDUCATION AND TRAINING 2021; 5:e10535. [PMID: 34099988 PMCID: PMC8166306 DOI: 10.1002/aet2.10535] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.3] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Received: 07/15/2020] [Revised: 08/30/2020] [Accepted: 09/11/2020] [Indexed: 06/12/2023]
Abstract
OBJECTIVES About half of all resident physicians report symptoms of burnout. Burnout negatively influences multiple aspects of their education and training. How burnout may impact residents' career choices remains unclear. The authors explored the role burnout played in residents' career decisions. METHODS This was a qualitative study among a sample of 29 emergency medicine residents from four institutions. Qualitative data were generated through four semistructured focus groups. The authors employed a constructivist approach to thematic analysis. Transcripts were coded and organized into major themes. RESULTS Five major themes connecting burnout with residents' career choices emerged: 1) residents' current burnout and the prevention of future burnout figured prominently in their career considerations, 2) residents aimed to mitigate sources of burnout through their career choices, 3) residents' view of clinical work as a burden and a burnout contributor spurred the pursuit of other interests, 4) faculty advice and role modeling in relation to burnout shaped residents' career perspectives, and 5) residents weighed long-term burnout concerns with short-term financial needs. CONCLUSION Burnout played an important role in multiple aspects of residents' career considerations. Educators, program directors, and organization leaders can focus on identified target areas to address burnout's influence on residents' career decisions.
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Affiliation(s)
- Dave W. Lu
- From theDepartment of Emergency MedicineUniversity of Washington School of MedicineSeattleWAUSA
- and theDepartment of Emergency MedicineTufts University School of Medicine–Maine Medical CenterPortlandMEUSA
| | - Carl A. Germann
- and theDepartment of Emergency MedicineTufts University School of Medicine–Maine Medical CenterPortlandMEUSA
| | - Sara W. Nelson
- and theDepartment of Emergency MedicineTufts University School of Medicine–Maine Medical CenterPortlandMEUSA
| | - Joshua Jauregui
- From theDepartment of Emergency MedicineUniversity of Washington School of MedicineSeattleWAUSA
| | - Tania D. Strout
- and theDepartment of Emergency MedicineTufts University School of Medicine–Maine Medical CenterPortlandMEUSA
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Shappell E, Ahn J, Park YS, McKillip R, Ernst M, Pirotte M, Tekian A. Affective, cognitive, and behavioral outcomes from a resident personal finance curriculum pilot project. AEM EDUCATION AND TRAINING 2021; 5:e10619. [PMID: 34222753 PMCID: PMC8246005 DOI: 10.1002/aet2.10619] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.7] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Received: 10/13/2020] [Revised: 04/30/2021] [Accepted: 05/13/2021] [Indexed: 05/23/2023]
Abstract
BACKGROUND The transition to residency marks a significant shift in the financial circumstances of medical trainees. Despite existing resources, residents still cite uncertainty in this domain. A personal finance curriculum is needed to close this educational gap and improve the financial well-being of trainees. METHODS The curriculum was developed using Kern's framework. Two needs assessments informed the consensus development of goals and objectives, educational strategies, and assessments. Course material was hosted online for asynchronous review and complemented by two 1-hour webinars. The curriculum was piloted at one institution. Participants completed (1) knowledge assessments before and after the intervention, (2) a survey of reactions to the curriculum, and (3) an assessment of financial behavioral changes after the intervention. RESULTS Thirty-seven residents (37/49, 76%) enrolled in the curriculum. Among participants, 20 (20/37, 54%) completed the curriculum. Most participants agreed or strongly agreed that the content was relevant (20/20, 100%) and clearly presented (19/20, 95%) and that they would recommend the curriculum to other residents (20/20, 100%). Performance on the knowledge assessment improved 21% after the intervention (mean ± SD = pretest 57% ± 17%, posttest = 78% ± 12%; p < 0.001). Most residents (17/20, 85%) also reported behavioral changes including setting new financial goals (12/20, 60%), taking new action toward financial planning (11/20, 55%), and changing financial habits (6/20, 30%). There were no direct financial costs incurred in the implementation of this pilot. CONCLUSIONS This is a successful pilot of a virtual personal finance curriculum with positive outcomes data. Addressing this problem at scale will require buy-in from educators around the country to deliver this information to residents that may not otherwise seek it out. Future study should assess curricular outcomes in other settings and the durability of acquired knowledge and behavioral changes over time.
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Affiliation(s)
- Eric Shappell
- Department of Emergency MedicineMassachusetts General Hospital/Harvard Medical SchoolBostonMassachusettsUSA
| | - James Ahn
- Department of MedicineSection of Emergency MedicineUniversity of ChicagoChicagoIllinoisUSA
| | - Yoon Soo Park
- Department of Emergency MedicineMassachusetts General Hospital/Harvard Medical SchoolBostonMassachusettsUSA
| | | | | | - Matthew Pirotte
- Department of Emergency MedicineVanderbilt UniversityNashvilleTennesseeUSA
| | - Ara Tekian
- Department of Medical EducationUniversity of Illinois at Chicago College of MedicineChicagoIllinoisUSA
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Stappas CG. Finance 101 for Physicians. Urol Clin North Am 2021; 48:269-277. [PMID: 33795061 DOI: 10.1016/j.ucl.2020.12.005] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 10/21/2022]
Abstract
Although physicians enjoy extensive educational backgrounds, financial planning typically is not a significant component of the curricula they have completed. As a result, many physicians could benefit from greater financial acumen, and their preparation for retirement might be lacking in light of their relatively high-income levels. This article by a private wealth advisor with 29 years of industry experience provides physicians with the basic building blocks to understand and manage their finances. It focuses on 3 pillars of financial planning: (1) protecting themselves, their families, and their assets; (2) reducing their taxes; and (3) growing their wealth.
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Financial Literacy: Should It Be a Required Part of the Residency Curriculum? Acad Radiol 2021; 28:589-590. [PMID: 33431222 DOI: 10.1016/j.acra.2020.12.014] [Citation(s) in RCA: 5] [Impact Index Per Article: 1.7] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 11/14/2020] [Revised: 12/01/2020] [Accepted: 12/01/2020] [Indexed: 11/22/2022]
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Over Worked and Under Paid: How Resident Finances Impact Perceived Stress, Career Choices, and Family Life. J Surg Res 2021; 258:82-87. [DOI: 10.1016/j.jss.2020.07.084] [Citation(s) in RCA: 6] [Impact Index Per Article: 2.0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 12/09/2019] [Revised: 06/19/2020] [Accepted: 07/08/2020] [Indexed: 11/22/2022]
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An Analysis of the Residents' Research, Education, and Wellness Resources in Radiation Oncology Residency Programs in the United States. Adv Radiat Oncol 2021; 6:100548. [PMID: 33490723 PMCID: PMC7807139 DOI: 10.1016/j.adro.2020.08.005] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.3] [Reference Citation Analysis] [Abstract] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 05/06/2020] [Revised: 07/20/2020] [Accepted: 08/12/2020] [Indexed: 11/22/2022] Open
Abstract
The purpose of this research was to evaluate the variations in research, education, and wellness resources for residents among radiation oncology (RO) residency programs across the United States. A list of accredited programs for the academic year 2018 to 2019 was collected using the Accreditation Council for Graduate Medical Education website. Individual residency program websites were used as the primary source of the data, and the Fellowship Residency Electronic Interactive Data Access System website complemented any missing data. We collected data on dedicated research time, resident rotations, wellness resources, and salary information. Excel 2013 was used for analysis. Information from the 94 Accreditation Council for Graduate Medical Education accredited RO residency programs during the academic year 2018 to 2019 was collected. Seventy-five (80%) programs reported the duration of dedicated research time on their websites. At least 6 months are allowed in 48 (51%) programs, and 27 (29%) programs report that dedicated research time is negotiable. Outstandingly, 20 (21%) programs allow 1 year of dedicated research time, and the median dedicated research time is 9 months. From our study, only 13 (14%) residency programs allow residents to rotate in other departments of the same institution. Fifty-nine (63%) programs allow away rotations at other institutions (external electives). An international rotation is permitted only in 19 (20%) programs. Wellness resoursces specifically fatigue managment, resident retreat and resident mentoring programs were available in 53%, 26% and 42% of programs, respectively. The salary information is obtainable for 63 institutions, and the yearly compensation ranges between $51,000 and $78,000. Moonlighting is allowed only in 28 (30%) programs. Our study found that major variations exist among RO residency programs in the United States regarding research, education, and wellness resources for residents.
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Motivation: how to create a cohort of engaged, energized, and happy radiology trainees. Clin Imaging 2021; 76:83-87. [PMID: 33578135 DOI: 10.1016/j.clinimag.2020.12.019] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 06/29/2020] [Revised: 11/17/2020] [Accepted: 12/20/2020] [Indexed: 11/21/2022]
Abstract
Burnout among physicians continues to be a "hot topic" as medical culture struggles to adapt to the changing marketplace, where clinical demands are ever increasing but healthcare systems are pivoting to prefer value and cost-savings. To date, many attempts to understand and battle burnout center around the individual physician, rather than the system, limiting the medical community's ability to counter it successfully. The training environment is a common nidus for burnout. By promoting an understanding of motivation, happiness, and engagement in the workplace, we suggest several changes that training programs can make to minimize burnout and promote resident wellness. Creating a culture of support, promoting a positive work environment, building a cohesive team, and encouraging wellness both inside and outside the workplace stands to create engaged, happy, and motivated trainees who will hopefully continue to promote those strategies as they advance their careers.
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Adham S, Nasir MU, Niu B, Hamid S, Xu A, Khosa F. How well do we represent ourselves: an analysis of musculoskeletal radiology fellowships website content in Canada and the USA. Skeletal Radiol 2020; 49:1951-1955. [PMID: 32556949 DOI: 10.1007/s00256-020-03481-1] [Citation(s) in RCA: 8] [Impact Index Per Article: 2.0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 03/26/2020] [Revised: 05/14/2020] [Accepted: 05/21/2020] [Indexed: 02/02/2023]
Abstract
OBJECTIVE Radiology residents review information available on fellowship program websites for shortlisting programs and for applying for fellowships. The aim of this study was to evaluate the comprehensiveness of musculoskeletal (MSK) fellowship program websites. METHODS The content of US and Canadian MSK fellowship program websites was evaluated using 25 distinct criteria in the following domains: application, recruitment, research, clinical, education, clinical work, benefits. Programs without websites were excluded from analysis. RESULTS In Canada and the USA, there were 100 MSK fellowship programs, 90 of them having dedicated websites. The average score across all programs was 9.5/25 or 38%. The most comprehensive program included 18/25 items or 72%. The least comprehensive program included only 1/25 items or 4%. The median score across all programs was 9/25 or 36%.More programs included information on the application process (65.5/90, 72.8%; SD 24.7%) than in education/research (24/90, 26.7%; SD 17.3%) or incentives (12.5/90, 13.9%; SD 7.8%).Mean scores amongst US schools did not differ based on geographical distribution (p = 0.32), although they did by rank; schools ranked in the bottom tier scored lower than the unranked, middle, and top tier schools (p < 0.05). CONCLUSION The majority of MSK fellowship program websites are not comprehensive. Areas that needed the most improvement include incentives, education/research, clinical teaching, and recruitment information. Addressing these insufficiencies can help programs in easing the application process for prospective fellows and enhance recruitment.
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Affiliation(s)
- Sami Adham
- Michael G. DeGroote School of Medicine, McMaster University, 1280 Main Street West, Hamilton, ON, L8S4L8, Canada.
| | - Muhammad Umer Nasir
- Department of Radiology, Vancouver General Hospital, University of British Columbia, Vancouver, Canada
| | - Bonnie Niu
- Department of Radiology, Vancouver General Hospital, University of British Columbia, Vancouver, Canada
| | - Saira Hamid
- Department of Radiology, Vancouver General Hospital, University of British Columbia, Vancouver, Canada
| | - Amy Xu
- Crofton High School, Vancouver, Canada
| | - Faisal Khosa
- Department of Radiology, Vancouver General Hospital, University of British Columbia, Vancouver, Canada
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Vengaloor Thomas T, Christian R, Palokas M, Hinton E, Pruett C. Strategies to improve financial literacy and related outcomes among medical students, residents, and fellows in the United States: a scoping review protocol. JBI Evid Synth 2020; 19:257-262. [PMID: 33165177 DOI: 10.11124/jbisrir-d-19-00422] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.3] [Reference Citation Analysis] [Abstract] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 01/04/2023]
Abstract
OBJECTIVE The objective of this scoping review is to explore strategies to improve financial literacy and related outcomes among medical students, residents, and fellows in the United States. INTRODUCTION Financial wellness and literacy are essential parts of overall wellness for medical students, residents, and fellows. Financial illiteracy and increased financial debt have negative implications for medical professionals and health care. Burnout is common among medical students, residents, and practicing physicians, and financial stress is one of the causes. High medical school debt results in decreased interest in primary care specialties as the payments are lower, resulting in a shortage of primary care providers. INCLUSION CRITERIA The review will include studies that identify strategies to improve financial literacy among medical students, residents, and fellows in the United States. METHODS The proposed review will be conducted as per JBI methodology for scoping reviews. The search strategy will aim to locate both published and unpublished studies. The key databases to be searched include PubMed, Embase, Cochrane Library, Scopus, and Academic Search Premier. Two independent reviewers will screen titles and abstracts for assessment against the inclusion criteria for the review. The results of the search will be reported and presented in a PRISMA flow diagram. Data will be extracted from papers included in the scoping review using a data extraction tool. The extracted data will be presented in both diagrammatic and narrative forms.
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Affiliation(s)
- Toms Vengaloor Thomas
- Department of Radiation Oncology, Resident Physician, University of Mississippi Medical Center, Jackson, MS, USA.,Mississippi Centre for Evidence Based Practice: A JBI Centre of Excellence, Jackson, MS, USA
| | - Robin Christian
- Mississippi Centre for Evidence Based Practice: A JBI Centre of Excellence, Jackson, MS, USA.,School of Nursing, University of Mississippi Medical Center, Jackson, MS, USA
| | - Michelle Palokas
- Mississippi Centre for Evidence Based Practice: A JBI Centre of Excellence, Jackson, MS, USA.,School of Nursing, University of Mississippi Medical Center, Jackson, MS, USA
| | - Elizabeth Hinton
- School of Nursing, University of Mississippi Medical Center, Jackson, MS, USA
| | - Christian Pruett
- Mississippi Centre for Evidence Based Practice: A JBI Centre of Excellence, Jackson, MS, USA.,School of Nursing, University of Mississippi Medical Center, Jackson, MS, USA
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Sabri MF, Aw ECX. Untangling financial stress and workplace productivity: A serial mediation model. JOURNAL OF WORKPLACE BEHAVIORAL HEALTH 2020. [DOI: 10.1080/15555240.2020.1833737] [Citation(s) in RCA: 3] [Impact Index Per Article: 0.8] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 10/23/2022]
Affiliation(s)
- Mohamad Fazli Sabri
- Faculty of Human Ecology, Universiti Putra Malaysia, Serdang, Malaysia
- Institute for Social Science Studies, Universiti Putra Malaysia, Serdang, Malaysia
| | - Eugene Cheng-Xi Aw
- Department of Management and Marketing, Universiti Putra Malaysia, Serdang, Malaysia
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Weeks K, Swanson M, Hansen H, Merritt K, Nellis J, Charlton M, Reed A. An Unmet Need in Healthcare Leadership: A Survey of Practicing Physicians' Perspectives on Healthcare Delivery Science Education. J Healthc Leadersh 2020; 12:95-102. [PMID: 33117033 PMCID: PMC7548321 DOI: 10.2147/jhl.s265377] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 06/04/2020] [Accepted: 09/02/2020] [Indexed: 11/23/2022] Open
Abstract
Background Healthcare delivery science education (HDSE) is increasingly needed by physicians balancing clinical care, practice management, and leadership responsibilities in their daily lives. However, most practicing physicians have received little HDSE in undergraduate through residency training. The purpose of this study is to 1) quantify the perception of the need for HDSE and interest in HDSE among a diverse sample of physicians, and 2) determine if perspectives on HDSE vary by specialty, rurality, and years in practice. Methods Using a cross-sectional, single state, mailed questionnaire, we surveyed 170 physicians about their perspectives on HDSE and interest in an HDSE program. Descriptive statistics and a multivariable logistic regression are presented. Results Among the 70.5% of responding eligible physicians, 75% of physicians had less HDSE than they would like and 90% were interested in obtaining more HDSE. Thirty-five percent of physicians were interested in joining the described HDSE program. The most prevalent barriers to obtaining HDSE were a lack of time and existing programs. Physician perspectives were similar across specialties, years in practice, and rurality. Conclusion There is a high unmet need for HDSE among physicians. Diverse and innovative HDSE programming needs to be developed to meet this need. Programming should be developed not only for physicians but also for undergraduate through residency training programs.
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Affiliation(s)
- Kristin Weeks
- Medical Scientist Training Program, Carver College of Medicine, Iowa City, IA, USA
| | - Morgan Swanson
- Medical Scientist Training Program, Carver College of Medicine, Iowa City, IA, USA
| | | | | | - Joseph Nellis
- Department of Surgery, Duke University, Durham, NC, USA
| | - Mary Charlton
- Department of Epidemiology, University of Iowa, Iowa City, IA, USA
| | - Alan Reed
- Department of Surgery, University of Iowa Hospitals and Clinics, Iowa City, IA, USA
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Proceedings from the American Medical Women's Association Graduate Medical Education Symposia: The First Three Years, 2018-2020. Perm J 2020; 24:1. [PMID: 33650949 PMCID: PMC7932010 DOI: 10.7812/tpp/20.030] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 02/02/2020] [Revised: 07/10/2020] [Accepted: 08/04/2020] [Indexed: 11/30/2022]
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Abstract
PURPOSE OF REVIEW The goal of this paper was to identify areas of importance in modern urology education that are not currently emphasized in current urological curricula. RECENT FINDINGS We identified curricular deficits in robotic surgical simulation, transgender health, leadership, business management, and social media training. Few practicing urologists feel comfortable managing transgender-specific needs, and most training programs do not adequately address transgender health. Urology programs also do not sufficiently emphasize topics in leadership, business management, or appropriate social media usage. With respect to simulation, while it is currently included in the Accreditation Council for Graduate Medical Education (ACGME) program requirements, it is currently under-utilized for training in robotic surgery. It is important for urologists to receive adequate training for the modern practice landscape. Where knowledge gaps among early practicing urologists arise, programs should adapt their curricula to address them.
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Personal Finance for the Plastic Surgery Resident. Ann Plast Surg 2020; 85:207-212. [PMID: 32788561 DOI: 10.1097/sap.0000000000002493] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/26/2022]
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Moriarity A, Kalia V. Fighting Burnout With FIRE. J Am Coll Radiol 2020; 17:187-189. [DOI: 10.1016/j.jacr.2019.07.013] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.3] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 07/16/2019] [Accepted: 07/16/2019] [Indexed: 11/30/2022]
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Jones JP, Ellis E. Trends associated with debt loads among oral and maxillofacial surgery chief residents. Oral Surg Oral Med Oral Pathol Oral Radiol 2019; 128:590-596. [PMID: 31255511 DOI: 10.1016/j.oooo.2018.12.025] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.2] [Reference Citation Analysis] [Abstract] [MESH Headings] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 10/04/2018] [Revised: 11/21/2018] [Accepted: 12/18/2018] [Indexed: 11/17/2022]
Abstract
OBJECTIVE This survey-based study was undertaken to investigate how total debt loads are impacting the personal and professional decisions made by graduating oral and maxillofacial surgery (OMS) residents. The aim of this study was to evaluate differences in total debt load on graduating residents and analyze the effects of this debt on career, family, and lifestyle choices after graduation. STUDY DESIGN This study was a cross-sectional, web-based survey of all graduating OMS residents in accredited OMS residency programs in the United States. Participation in the survey was optional, and all responses were anonymously collected and the data analyzed by using Qualtrics software. The respondents were analyzed as a collective, with the predictor of the study being program training length and the outcome being total debt load, with independent analysis of select other financial variables. RESULTS For the 246 deliverable emails, there were 120 respondents (48.7% response rate). The average graduating OMS resident was a Caucasian male (median age 32 years), living with a significant other or spouse who independently earned money, and had no dependents. The average range of accumulated debt of graduating residents was between $300,000 and $350,000, with 50.83% of the respondents having $350,000 or less in overall debt and 49.17% of the respondents having $350,000 or greater in accumulated debt. For those respondents completing 4-year programs, the average range of accumulated debt was between $250,000 and $300,000, and for those respondents completing 6-year programs, the average range of accumulated debt was between $400,000 and $450,000 (P < .08). CONCLUSIONS Graduating OMS residents carry with them a significant amount of debt whether graduating from a 4-year program or a 6-year program. However, when subjectively queried, most of these residents stated they would again choose OMS as a career choice.
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Affiliation(s)
- Jason P Jones
- Resident, Department of Oral and Maxillofacial Surgery, The University of Texas Health Science Center at San Antonio, San Antonio, TX, USA
| | - Edward Ellis
- Professor and Chair Department of Oral and Maxillofacial Surgery, The University of Texas Health Science Center at San Antonio, San Antonio, TX, USA.
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Jones C, Fouty JR, Lucas RB, Frye MA. Integrating Individual Student Advising into Financial Education to Optimize Financial Literacy in Veterinary Students. JOURNAL OF VETERINARY MEDICAL EDUCATION 2019; 46:562-572. [PMID: 31194629 DOI: 10.3138/jvme.1117-156r1] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 06/09/2023]
Abstract
The debt-to-income ratio (DIR) of Doctor of Veterinary Medicine (DVM) students has exceeded the recommended 1.4 and it is predicted that the DIR will approach 2.18 by 2026. The associated stressors negatively impact professional satisfaction and well-being. In conventional approaches to financial education, content is delivered to groups of students as part of the curriculum, but with little opportunity for application. Research in medical and financial education suggests that convenient timing, relevant subject matter and individualization are key characteristics of a successful program that promotes retention and application of knowledge. In this article, we describe an integrative approach to financial education developed by the Colorado State University (CSU) Financial Education Specialist (FES). The FES position requires that the individual be qualified to provide one-on-one financial advising to DVM students as well as develop targeted curricular interventions and optional workshops. Data from student and alumni surveys suggest that this integrative approach to financial education both improves knowledge and alters behaviors surrounding financial management. Interest from academic and professional entities across the United States reflects recognition of the program as an emerging best practice. We describe lessons learned through program implementation, including demands for FES services throughout the academic year, and topics relevant to each student cohort. We propose that providing one-on-one financial advice to DVM students is a critical component of a broader financial education program. Actualizing timing, relevance, and individualization, this integrated approach optimizes opportunities for knowledge application and ultimately behavioral change.
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Affiliation(s)
| | - Jamie R Fouty
- College of Veterinary Medicine and Biomedical Sciences, Colorado State University
| | - Rosemary B Lucas
- College of Veterinary Medicine and Biomedical Sciences, Colorado State University
| | - Melinda A Frye
- College of Veterinary Medicine and Biomedical Sciences, Colorado State University
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