AMA News Release (11/19/19)
The American Medical Association (AMA) has adopted a new policy extending initiatives to guarantee that all medical students and residents are trained in healthcare economics. The policy recommends that medical schools and residency programs add to their curricula material on the structure of healthcare delivery, modes of practice, practice settings, cost-effective diagnostic and treatment services, practice management, risk management, and quality assurance. These programs should also ensure medical students and residents are provided with content related to the setting and economics of medical practice in fee-for-service, managed care, and other financing systems at an educationally suitable time during training. "Medical students and residents with a deeper understanding of cost, financing, and medical economics will be better equipped to provide more cost-effective care that will have a positive impact for patients and the healthcare system as a whole," said AMA Immediate Past President Barbara L. McAneny, MD.