Money Facts: The cost/benefit of resident physicians in B.C.

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What does it cost to train and resident and what would it cost to replace the work that they do? 

Residents

Total cost of all medical residencies (educational and salaries) in BC in 2012/2013               $113,162,313

Cost borne by Health Canada for Expansion of IMG Program                                                       $    2,836,787

Total number of residents:          1143

Breakdown of Entry Positions:  

                CMGs                                    276

                IMGs                                     34

                Various                                 32

                Dentistry                             11

Average cost of education component of residency training                                                        $        28,386

Average salary paid to residents                                                                                                         $        72,369

Cost borne by Health Canada in 2013 per IMG resident in BC                                                       $         83,435

Amount paid to BC residents in 2013:

                 

Annual

Monthly

Resident I $49,934.50 $4,161.21
Resident II $55,705.25 $4,642.10
Resident III $60,702.95 $5,058.58
Resident IV $65,341.31 $5,445.11
Resident V $70,268.71 $5,855.73
Resident VI $75,022.44 $6,251.87
Resident VII $79,951.15 $6,662.60

 

 

 

 

 

 

 

 

Hourly rate in first year residency working 80 hours per week:                              $12/hour

 

Estimated Cost of Replacing Resident

No statistical information located to establish what it would take to replace the services performed by residents.  However, physicians working with residents estimate 1.5 fully licensed physicians would be necessary to replace the services provided by a resident.

National Average gross clinical payment per physician (2011/2012)           $328,000 per year

 

UBC Medical Students

Total cost for 2013/2014                                                                                                                $129,484,000

Numbers of students by year of entry into medical school:

2010/11                                256

2011/12                                288

2012.13                                288

2013/14                                288

Total Students   2013/2014            1120

 

Cost of educating UBC medical student per year                                                                  $    115,611

Tuition paid by UBC medical students per year                                                                   $       16,403

Subsidy of UBC medical student per year                                                                              $       99,208

Total public cost of education of UBC medical student                                                    $     396,832

Total educational cost to educate and train family doctor from UBC                          $     453,604                 ($396,832 + $28,386 x 2)

Total educational cost to educate and train family doctor who is a CSA or IMG     $        56,772                   (28,386 x2)

 

 

 

  • toxicmegacolon

    For a simple comparison. There are foreign graduates who are ‘abused’ by the province I’m in, and they assume the same role as a resident. They are paid between $120-150,000 per year, compared to $70,000 per year a resident makes. That alone is saving the province 50k/year/resident not costing them money as they try to claim.