Monday, September 16, 2013

The market for medical schools... the subject of this Bloomberg news story by Janet Lorin, that focuses on for-profit Caribbean medical schools: DeVry Lures Medical School Rejects as Taxpayers Fund Debt 

On the one hand, those schools offer a path towards a medical career to students who are not admitted to American schools. On the other hand, that path can be risky and debt-ridden, and changes the model by which students get clinical experience to one in which for-profit schools pay hospitals to take their students on 'clerkship' rotations.

The article focuses this and federal loan guarantees.

"DeVry’s pay-for-play model has drawn the ire of the American Medical Association. In June, the state of Texas passed a law prohibiting foreign medical schools from sending students to the state.
Congress needs to examine the law that makes foreign for-profit medical schools eligible for federal loans, says Senator Dick Durbin, a Democrat from DeVry’s home state of Illinois.
“These schools are taking advantage of an offshore loophole that allows federal funding to be released to students attending a medical school that is not accredited in the U.S.,” Durbin says. “Until Congress acts, these schools will stop at nothing to keep the American taxpayer dollars flowing.”
Students at the four schools -- the two DeVry schools, along with St. George’s University School of Medicine and, since July, Saba University School of Medicine -- are also eligible for tuition benefits from the U.S. Department of Veterans Affairs."

In a recent post I noted that U.S. medical school enrollment is increasing faster than residency positions. This will squeeze the offshore schools, as the number of graduates of American schools more nearly fills the available residencies.

1 comment:

Norma said...

With the growing need for doctors, there is definitely a market for foreign medical schools, as well as for their graduates. I am at UMHS in St. Kitts and I know I'll be able to have a good career when I graduate.