Income differentials required to make fellowship training in female pelvic medicine and reconstructive pelvic surgery financially neutral.
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.
Muffly
Tyler M
TM
University of Missouri at Kansas City, Kansas City, MO, USA. tylermuffly@hotmail.com
Weeks
William B
WB
D004503:Education, Medical, Graduate / Q000191:economics*; D005257:Fellowships and Scholarships / Q000191:economics*; D005260:Female; D013502:General Surgery / Q000191:economics / Q000193:education; D006176:Gynecology / Q000191:economics* / Q000193:education; D006801:Humans; D007182:Income; D008297:Male; D009774:Obstetrics / Q000191:economics* / Q000193:education; D017773:Pelvic Floor / Q000601:surgery; D012456:Salaries and Fringe Benefits / Q000191:economics*; D014481:United States; D000078329:Workforce