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Monday, February 27 • 10:00am - 10:45am
DEER VALLEY - [Oral Presentation] 3. A method for calculating the costs of medical education and opportunities for value analysis

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10:30 AM - 10:45 AM

A method for calculating the costs of medical education and opportunities for value analysis

S. Lamb, J. Lindsley, D. Roussel, T. Tsai, L. Boi, S. Petersen, M. Lauder, W. Samuelson, A. Stevenson, K. Shaffer, J. Colbert Getz, University of Utah
 Abstract Body: Context The skyrocketing cost of healthcare is a global problem. Likewise, debt for medical school graduates has been rising faster than inflation over the last 20 years (Youngclaus 2012). Despite increasing student tuition, the total cost of medical student education is rising even faster. Changing economics, fiscal pressures and new focus on higher quality and lower cost require a new operating model for academic medicine; every aspect of academic medical centers is undergoing transformation including how care is delivered, how students and residents are educated and how research is funded (Enders 2014). There is increasing recognition that the whole issue of cost and value in health professions education is important (Walsh 2014). Yet, to date the field has not figured out how best to determine the cost of medical education. Objectives 1. Describe the method used to calculate actual costs of the University of Utah School of Medicine (UUSOM) undergraduate medical education program 2. Review annual cost data for the UUSOM medical education program 3. Propose opportunities to use cost information for data driven analysis of resource utilization in medical education programming and planning Key Message The UUSOM has adapted a tool utilized at the University of Utah Health Sciences Center that successfully lowers costs of healthcare while improving patient outcomes (Lee 2016) for use by the educational program. The tool, known as Value Driven Outcomes (VDO), aggregates Professional and Facility Costs and assigns these costs to the corresponding clinical encounters (Kawamoto 2015). Data are aggregated in the University’s Data Warehouse where they are then available for reporting and analytics. We adapted the VDO framework to calculate the cost of the medical school program. This is providing an opportunity for data-driven analysis of resource utilization in medical education by the UUSOM. We believe this method can be replicated by other medical schools to allow them to calculate the actual costs of education for their program. Future utilization of this method can inform decisions about new programming, program change and quality improvement in education. Conclusion The costs of medical education likely varies among medical school programs; few can say they know the real cost of medical education. As a first step we have identified the categories of cost and actual dollar amounts for undergraduate medical education. This effort combined with future collaborative work with other institutions will help leaders make informed decisions about fiscal planning relating to education. 

avatar for Michael Lauder

Michael Lauder

University of Utah School of Medicine
avatar for Danielle Roussel

Danielle Roussel

Assistant Dean for Clinical Curriculum, University of Utah
avatar for Kerri Shaffer

Kerri Shaffer

Director of Curriculum and Faculty Support, University of Utah School of Medicine

Monday February 27, 2017 10:00am - 10:45am

Attendees (10)