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Income differentials required to make fellowship training in female pelvic medicine and reconstructive pelvic surgery financially neutral

Abstract

We used standard financial techniques and a return-on-educational-investment model to calculate the required annual income necessary to render additional fellowship training in female pelvic medicine and reconstructive pelvic surgery financially neutral. To explore a range of potential outcomes, we conducted a sensitivity analysis that used various discount rates and retirement ages. Compared to obstetrics/gynecology residents who go directly into private practice, residents who pursue fellowship training in female pelvic medicine and reconstructive pelvic surgery experience a financial loss of more than $400,000 to $600,000, assuming there is no income differential after fellowship. To render the additional training financially neutral requires an annual income that is 16–31% higher than that of general obstetrician/gynecologists. Required additional annual income was on the lower end of this spectrum when modeling later retirement age estimates and using lower discount rates. Fourth year obstetrician/gynecology residents considering female pelvic medicine/reconstructive surgery require higher incomes over the working lifetime to render fellowship training financially neutral.

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Acknowledgments

This work was supported in part by Veterans Affairs Health Services Research and Development Grant ERA 03-098. Thank you to Dr. Richard Hill for his assistance.

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Correspondence to Tyler M. Muffly.

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The views expressed in this article do not necessarily represent the views of the Department of Veterans Affairs or of the United States government.

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Muffly, T.M., Weeks, W.B. Income differentials required to make fellowship training in female pelvic medicine and reconstructive pelvic surgery financially neutral. Int Urogynecol J 19, 151–156 (2008). https://doi.org/10.1007/s00192-007-0407-8

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Keywords

  • Human capital
  • Female pelvic medicine and reconstructive pelvic surgery
  • Educational investment
  • Graduate medical education
  • Internship and residency
  • Salaries and fringe benefits
  • Health economics
  • Urogynecology