News and briefs: Fewer dollars could mean fewer residents
Residency Program Insider, October 11, 2011
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Included in President Barack Obama’s plan to cut $248 billion from Medicare over ten years is the reduction of funding to teaching hospitals by $1 billion. This potential loss of money has teaching hospitals wondering how they will fund their resident slots, which in part, are subsidized by Medicare. "We are doing things to find costs we can take out so we don’t cut people, but there’s only so far you can go with that. What else are you going to cut when most of your budget is people," said Herbert Pardes, CEO of New York-Presbyterian Hospital in an article with Bloomberg News.
According to Atul Grover, chief advocacy officer of the Association of American Medical Colleges, hospitals spend about $145,000 annually per resident. Because of already tight budgets, Grover predicts that instead of increasing funding on their end, teaching hospitals will reduce the size of their training programs. To read more, click here.
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