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Economic analysis of the military health professions scholarship program for neurosurgeons.

Publication ,  Journal Article
Ragel, BT; Klimo, P; Grant, GA; Taggard, DA; Nute, D; McCafferty, RR; Ellenbogen, RG
Published in: Neurosurgery
September 2011

BACKGROUND: The 4-year military Health Professions Scholarship Program (HPSP) provides funds for medical school tuition, books, and a monthly stipend in exchange for a 4-year military commitment (to receive all physician bonuses, an additional 3 months must be served). OBJECTIVE: To analyze the economics of the HPSP for students with an interest in neurosurgery by comparing medical school debt and salaries of military, academic, and private practice neurosurgeons. METHODS: Salary and medical school debt values from the American Association of Medical Colleges, salary data from the Medical Group Management Association, and 2009 military pay tables were obtained. Annual cash flow diagrams were created to encompass 14.25 years that spanned 4 years (medical school), 6 years (neurosurgical residency), and the first 4.25 years of practice for military, academic, and private practice neurosurgeons. A present value economic model was applied. RESULTS: Mean medical school loan debt was $154,607. Mean military (adjusted for tax-free portions), academic, and private practice salaries were $160,318, $451,068, and $721,458, respectively. After 14.25 years, the cumulative present value cash flow for military, academic, and private practice neurosurgeons was $1 193 323, $2 372 582, and $3 639 276, respectively. After 14.25 years, surgeons with medical student loans still owed $208 761. CONCLUSION: The difference in cumulative annual present value cash flow between military and academic and between military and private practice neurosurgeons was $1,179,259 and $2,445,953, respectively. The military neurosurgeon will have little to no medical school debt, whereas the calculated medical school debt of a nonmilitary surgeon was approximately $208,000.

Duke Scholars

Published In

Neurosurgery

DOI

EISSN

1524-4040

Publication Date

September 2011

Volume

69

Issue

3

Start / End Page

525 / 531

Location

United States

Related Subject Headings

  • Training Support
  • Salaries and Fringe Benefits
  • Private Practice
  • Pensions
  • Neurosurgery
  • Neurology & Neurosurgery
  • Models, Economic
  • Military Medicine
  • Insurance, Life
  • Humans
 

Citation

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Ragel, B. T., Klimo, P., Grant, G. A., Taggard, D. A., Nute, D., McCafferty, R. R., & Ellenbogen, R. G. (2011). Economic analysis of the military health professions scholarship program for neurosurgeons. Neurosurgery, 69(3), 525–531. https://doi.org/10.1227/NEU.0b013e3182181ec2
Ragel, Brian T., Paul Klimo, Gerald A. Grant, Derek A. Taggard, David Nute, Randall R. McCafferty, and Richard G. Ellenbogen. “Economic analysis of the military health professions scholarship program for neurosurgeons.Neurosurgery 69, no. 3 (September 2011): 525–31. https://doi.org/10.1227/NEU.0b013e3182181ec2.
Ragel BT, Klimo P, Grant GA, Taggard DA, Nute D, McCafferty RR, et al. Economic analysis of the military health professions scholarship program for neurosurgeons. Neurosurgery. 2011 Sep;69(3):525–31.
Ragel, Brian T., et al. “Economic analysis of the military health professions scholarship program for neurosurgeons.Neurosurgery, vol. 69, no. 3, Sept. 2011, pp. 525–31. Pubmed, doi:10.1227/NEU.0b013e3182181ec2.
Ragel BT, Klimo P, Grant GA, Taggard DA, Nute D, McCafferty RR, Ellenbogen RG. Economic analysis of the military health professions scholarship program for neurosurgeons. Neurosurgery. 2011 Sep;69(3):525–531.
Journal cover image

Published In

Neurosurgery

DOI

EISSN

1524-4040

Publication Date

September 2011

Volume

69

Issue

3

Start / End Page

525 / 531

Location

United States

Related Subject Headings

  • Training Support
  • Salaries and Fringe Benefits
  • Private Practice
  • Pensions
  • Neurosurgery
  • Neurology & Neurosurgery
  • Models, Economic
  • Military Medicine
  • Insurance, Life
  • Humans