Sponsored Links
Page 1 of 2 12 LastLast
Results 1 to 10 of 11
  1. #1
    Doctorintraining1980 is offline Junior Member 510 points
    Join Date
    Apr 2016
    Posts
    28
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Self Fund my Residency?

    Advertisements



    Can I self fund my own residency? Or fund someone expanding or starting a small residency program?

  2. #2
    Doctorintraining1980 is offline Junior Member 510 points
    Join Date
    Apr 2016
    Posts
    28
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Found a company willing to try to help me do it as that's their goal. They're attempting to set up a system with ACGME and Hospital systems to let
    people cover the costs of funding.

  3. #3
    Doctorintraining1980 is offline Junior Member 510 points
    Join Date
    Apr 2016
    Posts
    28
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Quote Originally Posted by Doctorintraining1980 View Post
    Found a company willing to try to help me do it as that's their goal. They're attempting to set up a system with ACGME and Hospital systems to let
    people cover the costs of funding.
    Company is www medicalresidencyresources com

    not sure if anyone has used them but they say they're trying to make it to where
    people can self fund for the thousands of available but unfunded residency spots.

    I'll let you guys know how it works out.

  4. #4
    dosil is offline Newbie 510 points
    Join Date
    Jun 2012
    Posts
    12
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Residency

    Quote Originally Posted by Doctorintraining1980 View Post
    Company is www medicalresidencyresources com

    not sure if anyone has used them but they say they're trying to make it to where
    people can self fund for the thousands of available but unfunded residency spots.

    I'll let you guys know how it works out.
    Sounds interesting. Definitely let us know how you make out.

  5. #5
    Doctorintraining1980 is offline Junior Member 510 points
    Join Date
    Apr 2016
    Posts
    28
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Signed up. They basically shop you to programs with excess positions that aren't getting medicare funding.
    If I end up paying $170,000 to be able to make $300-400k for 30 years it makes a lot of sense versus working
    as a science teacher or going to PA School.

  6. #6
    dosil is offline Newbie 510 points
    Join Date
    Jun 2012
    Posts
    12
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    How do they decide what you have to pay? Is it the same for all residencies, for example is it the same for family as it is for psych,etc?

  7. #7
    cutelilMD's Avatar
    cutelilMD is offline Member 527 points
    Join Date
    Jun 2010
    Posts
    452
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    I went to the website you posted, and sent a message, hopefully they respond. I'm very curious about this as well. If we do pay, will they set up a payment plan for us.
    basic science (completed) core rotations (completed) electives (completed) graduated with MD (completed) step 1 (completed) step 2 ck (completed) step 2 cs (completed) ECFMG certified (completed). Residency (in progress)

  8. #8
    kanudo87 is offline Newbie 510 points
    Join Date
    Jun 2016
    Posts
    1
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Medical Resource Residency company

    Quote Originally Posted by Doctorintraining1980 View Post
    Signed up. They basically shop you to programs with excess positions that aren't getting medicare funding.
    If I end up paying $170,000 to be able to make $300-400k for 30 years it makes a lot of sense versus working
    as a science teacher or going to PA School.
    Hello,

    I wanted to contact you in regards to your post regarding the Medical Resource Residency company. I have sent them an email to request more information. Based on your post I wanted to know how far you have gotten with your residency match. Is there further hope of self funding a residency spot. In short, I wanted to know more information and to get a further insight about getting a residency through this avenue. Hope to hear from you soon. Thank you very much.

  9. #9
    Summer2013 is offline Member 526 points
    Join Date
    Jul 2010
    Posts
    359
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Did any had any luck with this company being able to get a privately funded residency spots?

  10. #10
    Med grad is offline Junior Member 525 points
    Join Date
    Apr 2016
    Posts
    96
    Downloads
    0
    Uploads
    0
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Interesting idea! But I am not sure how practical this is unless you are wealthy or have rich relatives willing to help you. You have to pay the hospital and on top of that you need to fund your living expenses because you get no salary while in residency. Medicare pays hospitals about $100K per resident and about half of that usually goes to residents' salary and benefits.

    Then add this to the students loans you might have incurred for undergraduate and medical school and the amount becomes substantial so much so that it doesn't make any economic sense. The student loans accrue interest and if you find a way to borrow the cost of residency that loan too will start to accrue interest. The principal and interest on all those loans will eat up most of your after tax earnings. You can expect about $120K-$170K per year in salary if you are in primary care. You will go broke trying service all that debt while trying to maintain some reasonable standard of living.

    You should crunch the numbers and find a funding source to pay the hospital as most struggling medical graduates don't have that kind of cash sitting in their bank account. I doubt any hospital willing to do this will be willing set up payment plans. They want the money up front because they want to make sure they get paid first.
    Last edited by Med grad; 04-29-2017 at 09:09 PM.

Page 1 of 2 12 LastLast

Similar Threads

  1. How to fund my studies?
    By Londoner7 in forum Polish Medical Schools
    Replies: 0
    Last Post: 08-17-2015, 07:36 AM
  2. How do you guys fund the school?
    By MDapplicant88 in forum Universidad Autonoma de Guadalajara (UAG)
    Replies: 5
    Last Post: 06-30-2011, 05:34 PM
  3. How did you Fund your trip to Ross?
    By acker004 in forum Ross University School of Medicine
    Replies: 3
    Last Post: 05-17-2011, 08:44 PM
  4. Electronic Transfer Fund
    By mikcek in forum Medical University of the Americas (MUA) Nevis
    Replies: 1
    Last Post: 03-11-2011, 02:10 PM
  5. How do Canadians fund their studies?
    By arcadil in forum St. Georges University School of Medicine
    Replies: 13
    Last Post: 09-28-2009, 08:35 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •