Page 10 - May 2019 with HCHeroes

How Loans Impact Career Decision When It Comes to Patient Care,

Making for Physician Residents What Can We Learn

Physician residents deal with a lot of debt. For from the Symphony?
some residents and medical students it can range
from $200K-$500K or more in debt. According to
the 2016 Association of American Medical If you were hanging duction. They took a
Colleges (AAMC) Medical School Graduation out with a group of traditional, predictable
Questionnaire, 4 out of 5 medical students bor- friends and trying to experience and made it
row from student loan institutions to finance decide what your next remarkable – different
their studies. Some studies show that high stu- fun event together would in a good way.
dent loan debt burden influences medical stu- be, I doubt anyone The same should be
dents on what specialty they consider and they would jump to suggest true for patient care. If
are least likely to choose specialties with lower going to a symphony someone is sitting
salaries. In 2016 the Journal of the American orchestra. Even if you are around talking to their
Board of Family Medicine, noted that high debt a fan, when the words friends about an
has been “correlated with callousness, stress, sui- BY JACQUELLINE LEVA, symphony orchestra are upcoming doctor visit
cidal thoughts, failing medical licensing exams, DO presented, words like for- or overnight stay in the
and leaving or being dismissed from medical mal, sophisticated, and hospital, what words
school.” maybe even dry come to BY JAY JUFFRE typically come to mind
The average Medical School debt is $206,000 for those who attend private mind. then? Imagine for a
medical school according to the Association of American Medical colleges However, do not tell second, despite the cir-
(AAMC) survey study conducted in 2017. Although earning potential is high that to the Andre Rieu - Johann Strauss cumstances, if your organization was
among physicians, the years spent in residency are often times marked with low Orchestra. Some of you know exactly able to also make the experience
pay, $51,000 on average. There are some Loan Forgiveness Program (LFP) what I am talking about, but for the extraordinary. What if, people left
options for residents in certain specialties like family medicine. others, over the past couple decades, motivated to tell their friends and fam-
For some physicians with federal student loans the LFP grants provide relief this orchestra has been selling out sta- ily about how great they were treated,
on certain loan balances after ten years of work in public service. The years diums around the world. In 2018 they how it was not what they expected,
spent in residency qualify for part of the program requirements if you are were ranked 15th in the list of top 20 and how others would be crazy not to
employed at a non-profit institution. Almost every academic hospital is a non- global concert tours, just ahead of acts switch health care providers immedi-
profit allowing residents this opportunity. According to a student loan planner like Brittany Spears and Shakira (no ately.
at a consulting firm, the best path for a resident who is unsure would be to other show of its kind even came Try to look at things through an
choose a revised Pay as You Earn loan to receive the interest subsidies while close). Andre Rieu lens, your present and
keeping the door open to repayment options. It is imperative for residents and If you have not seen them in action, future patients will thank you.
students to conduct their own investigation on what loan payment plan works feel free to YouTube them. You’ll see a
for them or risk drowning in debt. fun, exciting show with fans of all ages Jay Juffre is Executive Vice President,
literally dancing in the aisles having a ImageFIRST. For more information on
For more information, contact the Dade County great time. Fireworks, lasers and ImageFIRST, call 1-800-932-7472
Medical Association at (305) 324-8717. smoke effects are also part of the pro- or visit www.imagefirst.com.

In

10 May 2019 southfloridahospitalnews.com South Florida Hospital News