CHAPTER 5 THE PHYSICIAN LABOR MARKET
CHAPTER 5 THE PHYSICIAN LABOR MARKET
Outline The training of physicians Medical school residency Returns to medical training Work hours Barriers to entry ▣Physician agency Physician-induced demand ▣Discrimination Bhattacharya,Hyde and Tu-HealthEconomics
Bhattacharya, Hyde and Tu – Health Economics Outline The training of physicians Medical school & residency Returns to medical training Work hours Barriers to entry Physician agency Physician-induced demand Discrimination
The training of physicians
The training of physicians
Medical school Entry into med school is competitive and selective worldwide In the US,average 50%of applicants are accepted into at least one school Length of medical school varies across country US Canada applicants must first get a bachelor's degree European applicants go directly from high school Medical school can be super-expensive US:$140k--$225k for four years European medical training often heavily subsidized Bhattacharya,Hyde and Tu-HealthEconomics
Bhattacharya, Hyde and Tu – Health Economics Medical school Entry into med school is competitive and selective worldwide ◼ In the US, average 50% of applicants are accepted into at least one school Length of medical school varies across country ◼ US & Canada applicants must first get a bachelor’s degree ◼ European applicants go directly from high school Medical school can be super-expensive ◼ US: $140k -- $225k for four years ◼ European medical training often heavily subsidized
Residency In addition to classroom work,physicians-in- training must also gain hospital experience Residency is a period of on-the-job training following medical school New residents lack experience,and when new residents arrive at a hospital,empirical evidence that medical errors go up ▣“July effect'"in the US ▣“August killing season"'in the UK Bhattacharya,Hyde and Tu-HealthEconomics
Bhattacharya, Hyde and Tu – Health Economics Residency In addition to classroom work, physicians-intraining must also gain hospital experience Residency is a period of on-the-job training following medical school New residents lack experience, and when new residents arrive at a hospital, empirical evidence that medical errors go up “July effect” in the US “August killing season” in the UK