Money Facts: The cost/benefit of resident physicians in B.C.
BY Rosemary
ON
April 16, 2014
POSTED IN FAQs
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)
1 Comment
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.