By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    headphones can create health problems
    The Harmful Health Effects of Using Headphones
    September 24, 2021
    Headache causes
    4 Causes Of Headache You Probably Didn’t Know About
    December 28, 2021
    follow these steps to recover from your injury
    What Steps Should You Take to Recover More Quickly from an Injury?
    April 12, 2022
    Latest News
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
    The Best Home Remedies for Migraines
    June 5, 2025
    The Hidden Impact Of Stress On Your Body’s Alignment And Balance
    May 22, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Cash Transfers: Good for HIV/AIDS Too
    August 9, 2012
    unnecessary medical tests
    Eagerly Awaiting the Death of Defensive Medicine
    September 5, 2013
    Image
    Mobile Health Around the Globe – mHealth Fighting Malnutrition in India
    December 17, 2012
    Latest News
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
    Top HIPAA-Compliant Messaging Apps for Healthcare Teams
    June 25, 2025
    When Healthcare Ends, the Legal Process Begins: What Families Should Know About Probate and Medical Estates
    June 20, 2025
    Preventing Contamination In Healthcare Facilities Starts With Hygiene
    June 15, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Teaching Medical Students About Costs
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > Medical Education > Teaching Medical Students About Costs
Medical Education

Teaching Medical Students About Costs

Brian Powers
Brian Powers
Share
5 Min Read
healthcare costs
SHARE

healthcare costs

healthcare costs

After graduating from college I had the opportunity to spend two years working at the Institute of Medicine on a variety of health care improvement topics. When it came time to apply to medical school I noticed an odd dissonance—the challenges I had been grappling with at the IOM were not manifest in most medical school curricula. I knew that multidisciplinary teams deliver the best care, but I was going to learn almost exclusively alongside fellow physicians-in-training. I had learned that deficiencies in care delivery harm patients, but neither quality nor systems improvement would be areas of focus. The inattention to health care costs was particularly glaring. Rarely a day passed at the IOM where I did not attend a meeting, read an article, or work on a report that dealt with the cost crises in health care. But these challenges, and the physician role in cost containment, were absent from most school’s curricula.

I wanted to find a school that would allow me to build on my experience at the IOM, but I found it difficult to assess the extent to which schools were committed to teaching students about cost and value. Websites and curriculum catalogues quickly blend together, but I did notice that educational objectives offered an interesting glimpse of a school’s educational ethos. Unlike the standardized core competencies of residency programs, the Liaison Committee on Medical Education (LCME) allows medical schools to develop their own core educational objectives. The lack of standardization made these objectives a convenient way to gauge a schools commitment to preparing students for contemporary challenges in health care.

More Read

Cancer Warrior: One Woman’s Successful Battle against Stage IV Colon Cancer
Quality and Cost Savings Through Consumer Engagement
Interactive Medical Education With ArcheMedX
How Patients Can Receive Financial Assistance For Medication
Skate to Where Health Care Is Going, Not to Where It Has Been

At the time I remember being disappointed by how few schools incorporated an understanding of health care costs and the physician role in resource stewardship into their educational objectives. Curious if these impressions were representative, I decided to take a more methodical approach and survey the educational objectives for a larger sample of medical school. What I found was unsettling. Among the top 25 research-focused medical schools, 50% include awareness of the economics and financing of health care in their educational objectives, and only 28% mention the role of physicians in cost control and resource stewardship. The picture is similar for the top 25 primary care-focused medical schools, where the results are 50% and 25%, respectively.

Acknowledging these deficiencies, leaders have recently called for better education on cost and value across the training continuum, particularly in residency training and the clinical years of medical school. But it is important to start earlier. There are two reasons this type of education should start on day one. First, it provides students with skills, knowledge, and time to grapple with the complex practical and ethical challenges of cost containment before they are in the position to make medical decisions. Students can then approach their clinical rotations with an eye towards high-value care, using practical experience on the wards to supplement and enrich a strong theoretical foundation. Second, focusing on cost and value early and often send a signal to students, and the medical community more broadly, that cost-awareness is a key competency for the modern physician. By making these issues core longitudinal themes, medical schools can build a culture of high-value care delivery among a new generation of doctors.

Resource stewardship and cost-effective care are widely endorsed as key components of physicians’ professional responsibility. As such, medical schools have an obligation to ensure that these principles are incorporated into their core educational objectives. Medical students deserve an education that will prepare them to meet the challenges of modern medicine.

image: healthcarecosts/shutterstock

Original Post

TAGGED:healthcare costs
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

9 Lifestyle Tweaks That Can Add Years to Your Life
9 Healthcare Lifestyle Tweaks That can Add Years to Your Life
lifestyle
July 11, 2025
car accident lawsuit
Let Your Lawyer Handle the Work Before You Pay Medical Costs
Policy & Law
July 6, 2025
women dental care
What Is a Smile Makeover and How Much Does It Cost?
Dental health
June 30, 2025
HIPAA-Compliant Messaging Apps
Top HIPAA-Compliant Messaging Apps for Healthcare Teams
Global Healthcare Policy & Law Technology
June 25, 2025

You Might also Like

doctors and nurses physician leadership skill listening
Hospital AdministrationMedical Education

Doctors and Nurses: Doctors need to Order Less, Listen More

February 29, 2012
Chicago Patient Forum
Medical EducationPublic Health

Advanced Care Planning: What to Do Now

July 8, 2014
Evaluating Doctor Conduct
BusinessHealth ReformHospital AdministrationMedical EducationMedical EthicsNewsPolicy & LawPublic Health

Taking a Fresh Look at Disruptive Physician Conduct

September 17, 2014
MarketingMedical EducationMedical Records

7 Reasons You Need Digital Marketing For Your Medical Practice

May 14, 2019
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?