This paper addresses the problem of managing a waiting list for elective surgery to decide the number of patients selected from the waiting list and to schedule them in accordance with the operating room capacity in the next period. The waiting list prioritizes patients not only by their initial urgency level but also by their waiting time. Selecting elective surgery patients requires a balance between the waiting time for urgent patients and that for less urgent patients. The problem is formulated as an infinite horizon Markov Decision Process. Further, the study proposes a scheduling procedure based on structural properties of an optimal policy by taking a sampling-based finite horizon approximation approach. Finally, we examine the performance of the policy under various conditions.Article published by EDP Sciences c EDP Sciences, ROADEF, SMAI 2013Theorem 4.1. If v N +1 (s) = 0 for all s, then, J n (s, a) is jointly convex in s and u and v n (s) is convex in s for all n = 1, 2, . . . , N.Proof. The proof is given by induction on n.Here v N +1 (s) and J N (s, u) are convex by assumption and Proposition 4.3. Assuming that the results hold for n, v n (s) and J n (s, u) are convex. We now show that the results hold also for n − 1. Because both v n (s) and c (s, u) are convex, J n−1 (s, u) is also convex. The convexity of J n−1 (s, u) supports that v n−1 (s) is convex.