Blog Archives

Be A Dirtbag Millionaire

For many of us, medical training means taking on significant debt and learning to manage complex personal finances. Many financial advisors “specialize” in physicians (like wolves who specialize in sheep?), and young doctors have a reputation as easy targets.

How can you defend yourself against financial predators, kill your debt early, and learn to manage your own portfolio? (And where can you even learn what a portfolio is?) Crispy Doc offers a blog dedicated to financial literacy for the newly minted physician with an emphasis on early financial independence for doctors.

Check out his blog, and learn from Crispy Doc’s recent Student Doctor Network article.

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Accelerated Medical School Programs

Great Opportunity or Impending Mess?

I’m sure many of you read last week’s news that NYU and other medical schools will be offering a three-year, accelerated medical school program to eligible applicantsmedical school programs

I greeted this news with both encouragement and concern. On the one hand, it’s reassuring that low- and medium-income students who cannot afford the exorbitant costs of a medical education will have the option to pursue their career dreams with less (although still significant) financial burden. Shaving off $20 to $50,000 of tuition and living costs can mean opening up the medical career to those who are understandably terrified of decades of loan repayment.

On the other hand, the NYU accelerated medical students will need to choose their specialties when they apply to medical school. In return, they will be guaranteed a residency slot when they graduate, but presumably, these applicants would have matched successfully to a residency position if they had been in a traditional program. After all, they are being accepted to a strong medical school and are competitive applicants. (NYU expects these students to stay in the top half of their class academically in order to continue in the accelerated program.)

Asking students to pick a specialty prior to even completing one day of clinical rotations begs the question of whether these future physicians will be satisfied in their fields. Studies have shown that doctors who are more dissatisfied provide lesser patient care and are more likely to leave medicine, which will worsen the accelerating doctor dearth.

Take a look here to read the NYT’s article regarding NYU’s new program, and make your own conclusions.

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About Dr. Michelle Finkel

Dr. Michelle Finkel

Dr. Finkel is a graduate of Stanford University and Harvard Medical School. On completing her residency at Harvard, she was asked to
stay on as faculty at Harvard Medical School and spent five years teaching at the world-renowned Massachusetts General Hospital.
She was appointed to the Assistant Residency Director position for the Harvard Affiliated
Emergency Medicine Residency where she reviewed countless applications, personal statements and resumes. Read more

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Listen to Dr. Finkel’s interview on the White Coat Investor podcast:

Listen to Dr. Finkel’s interview on the FeminEm podcast: