Financial and Business Literacy Among Urology Residents: Is this a Problem and How Can We Better Prepare Residents for their Careers?
Business literacy
Business of healthcare
Finance literacy
Financial education in residency
Personal finance
Urology financial education
Journal
Current urology reports
ISSN: 1534-6285
Titre abrégé: Curr Urol Rep
Pays: United States
ID NLM: 100900943
Informations de publication
Date de publication:
21 Jun 2024
21 Jun 2024
Historique:
accepted:
30
05
2024
medline:
21
6
2024
pubmed:
21
6
2024
entrez:
21
6
2024
Statut:
aheadofprint
Résumé
Although financial wellness is a predictor of physician burnout, we are yet to optimize financial education or wellness of Urology trainees. We assessed existing studies, compared them to those of other specialties, and discussed resources and methods to address this deficiency. Urology residents tend to be less fiscally savvy (carry significant debt, and lack retirement savings or disability insurance), and 90% of trainees and young Urologists do not feel comfortable with the business of practice, including skills like coding and billing, contract negotiation, and self-value assessment. Financial and business literacy are deficiencies of Urology training, as in other specialties. Eventually, the goal should be universal adoption of a formal curriculum that is graded in nature. In the interim, we need to propose and endorse adoption of a formal curriculum, and we should support trainees by promoting a space for easily accessible and transparent information regarding best practices in personal finance and the business of healthcare.
Identifiants
pubmed: 38904922
doi: 10.1007/s11934-024-01216-6
pii: 10.1007/s11934-024-01216-6
doi:
Types de publication
Journal Article
Review
Langues
eng
Sous-ensembles de citation
IM
Informations de copyright
© 2024. The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
Références
Barrett JR, Leonard LD, Kovar A, McCarthy DP, Harms B, Tevis S. Medically Smart, Fiscally Illiterate: Lack of Financial Education Leads to Poor Retirement Savings Strategies in Surgical Trainees. Am Surg. 2023;89(6):2427–33.
doi: 10.1177/00031348221096579
pubmed: 35506914
Tevis SE, Rogers AP, Carchman EH, Foley EF, Harms BA. Clinically competent and fiscally at risk: Impact of debt and financial parameters on the surgical resident. J Am Coll Surg. 2018;227(2):163–71.e7.
doi: 10.1016/j.jamcollsurg.2018.05.002
pubmed: 29859900
West CP, Shanafelt TD, Kolars JC. Quality of life, burnout, educational debt, and medical knowledge among internal medicine residents. JAMA. 2011;306(9):952–60.
doi: 10.1001/jama.2011.1247
pubmed: 21900135
Kibbe MR, Troppmann C, Barnett CC Jr, Nwomeh BC, Olutoye OO, Doria C, et al. Effect of educational debt on career and quality of life among academic surgeons. Ann Surg. 2009;249(2):342–8.
doi: 10.1097/SLA.0b013e318195e5c8
pubmed: 19212192
Shappell E, Ahn J, Ahmed N, Harris I, Park YS, Tekian A. Personal finance education for residents: A qualitative study of resident perspectives. AEM Educ Train. 2018;2(3):195–203.
doi: 10.1002/aet2.10090
pubmed: 30051089
pmcid: 6050061
Mirza W, Mirza AM, Saleem MS, Chacko PP, Ali M, Tarar MN, et al. Well-being assessment of medical professionals in progressive levels of training: Derived from the WHO-5 well-being index. Cureus. 2018;10(12):e3790.
pubmed: 30868004
pmcid: 6402727
Teichman JM, Bernheim BD, Espinosa EA, Cecconi PP, Meyer J, Pearle MS, et al. How do urology residents manage personal finances? Urology. 2001;57(5):866–71.
doi: 10.1016/S0090-4295(00)01128-6
pubmed: 11337283
Greenberg RTA, Fantasia J, O'Rourke T, Thavaseelan S, Elsamra S. What do urology residents know about personal finance? a survey-based prospective study of urology trainees. AUA News. 2021(September 2021):1.
Sinchek KMSM, Dymanus K, Coogan C, Chow AK. Assessing financial literacy and well-being of urology residents. AUA News. 2023(August Extra 2023):1.
Atiemo H, Bresler L, Rhee A, Semins MJ, Memo R. Business and practice readiness of early career urologists: an unmet need. Urol Pract. 2020;7(2):109–14.
doi: 10.1097/UPJ.0000000000000097
pubmed: 37317422
Cone EB, Westerman ME, Nguyen DD, Stern KL, Javier-Desloges J, Koo K. Gender-based differences in career plans, salary expectations, and business preparedness among urology residents. Urology. 2021;150:65–71.
doi: 10.1016/j.urology.2020.04.123
pubmed: 32540301
Urology Residents. In the United States and Across the Globe 2016–2018. Linthicum, MD: American Urological Association.
Ahmad FA, White AJ, Hiller KM, Amini R, Jeffe DB. An assessment of residents’ and fellows’ personal finance literacy: an unmet medical education need. Int J Med Educ. 2017;8:192–204.
doi: 10.5116/ijme.5918.ad11
pubmed: 28557777
pmcid: 5457786
Dhaliwal G, Chou CL. A brief educational intervention in personal finance for medical residents. J Gen Intern Med. 2007;22(3):374–7.
doi: 10.1007/s11606-006-0078-z
pubmed: 17356971
pmcid: 1824762
Nowotny DJ. Financial status and literacy among residents and medical students. The American Surgeon™. 2022;88(7):1427–31.
doi: 10.1177/00031348221080428
pubmed: 35282707
Freidin N, Schreiner AD. “I’m Not Good with Money” and Other Lies Residents Tell Themselves about Personal Finance. South Med J. 2023;116(7):537–41.
doi: 10.14423/SMJ.0000000000001575
pubmed: 37400098
Committee YU. Transitioning from Residency to Practice Manual. 2023. Available from: https://www.auanet.org/ResidentManual/ .
Thompson IM III. Business and Communication. 2023. Available from: https://university.auanet.org/core/principles-of-clinical-practice/business-and-communication/index.cfm?&ct=afdb591b855bdfb538acf5a704244b523c3893ed63b2259738e127edb9663f58c6319a8556fe03ef0891bdc5c9300f21273d8e8e403e4250eb15dcb719902967 .
Dahle J. The White Coat Investor: A Doctor's Guide to Personal Finance and Investing. 2014.
Sterling M, Leung P, Wright D, Bishop TF. The use of social media in graduate medical education: A systematic review. Acad Med. 2017;92(7):1043–56.
doi: 10.1097/ACM.0000000000001617
pubmed: 28225466
pmcid: 5487290
Kiss A, Soós S, Temesi Á, Unger-Plasek B, Lakner Z, Tompa O. Evaluation of the reliability and educational quality of YouTube™ videos on sport nutrition topics. J Int Soc Sports Nutr. 2023;20(1):2278632.
doi: 10.1080/15502783.2023.2278632
pubmed: 37953602
pmcid: 10653641
Peters-Geven MM, Rollema C, Metting EI, van Roon EN, de Vries TW. The quality of instructional youtube videos for the administration of intranasal spray: Observational study. JMIR Med Educ. 2020;6(2):e23668.
doi: 10.2196/23668
pubmed: 33377873
pmcid: 7806442
Bar-Or YD, Fessler HE, Desai DA, Zakaria S. Implementation of a comprehensive curriculum in personal finance for medical fellows. Cureus. 2018;10(1):e2013.
pubmed: 29515942
pmcid: 5832391
Jones K, Lebron RA, Mangram A, Dunn E. Practice management education during surgical residency. Am J Surg. 2008;196(6):878–81; discussion 81–2.
doi: 10.1016/j.amjsurg.2008.08.008
pubmed: 19095103
Hauge LS, Frischknecht AC, Gauger PG, Hirshfield LE, Harkins D, Butz DA, Taheri PA. Web-based curriculum improves residents’ knowledge of health care business. J Am Coll Surg. 2010;211(6):777–83.
doi: 10.1016/j.jamcollsurg.2010.07.011
pubmed: 20851642
Camacho M, Chun MBJ, Xia H, Ahn HJ, Miyasato H, Murayama KM. Implementation of a Business of Healthcare Curriculum for General Surgery Residents. J Surg Educ. 2023;80(4):613–8.
doi: 10.1016/j.jsurg.2022.12.001
pubmed: 36543709
Igu JA, Zakaria S, Bar-Or YD. Systematic review of personal finance training for physicians and a proposed curriculum. BMJ Open. 2022;12(12):e064733.