Over Worked and Under Paid: How Resident Finances Impact Perceived Stress, Career Choices, and Family Life

Kovar, Alexandra; Carmichael, Heather; Harms, Bruce A.; Nehler, Mark R.; Tevis, Sarah E.

doi:10.1016/j.jss.2020.07.084

Cited by 24 publications

(10 citation statements)

References 14 publications

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“…During the training period, resident physicians undertake a lot of clinical work but only a small amount of welfare benefits [ 21 , 22 ]. Researchers have found that the financial burden faced by resident physicians can significantly increase their pressure, and even lead to resident physicians quitting the training program halfway [ 75 ]. Finally, support from others can significantly alleviate the negative impact from the outside, and the support of teachers, family members, and friends is also a very important help for resident physicians [ 46 ].…”

Section: Discussionmentioning

confidence: 99%

Chronic stress and turnover intention of resident physicians after experiencing COVID-19

Jia,

Qu,

Huo

et al. 2023

BMC Med Educ

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Background Previous studies have explored the stress and turnover intention of healthcare workers, but as important backup talents in the healthcare system, resident physicians have received little attention from researchers, especially after experiencing COVID-19. Therefore, this study aims to evaluate the chronic stress and turnover intention of resident physicians after experiencing COVID-19. Methods From June to August 2022, we conducted a questionnaire survey on resident physicians in the Children's Hospital of Hebei Province through the online platform (Wenjuanxing) to evaluate their chronic stress and turnover intention after experiencing COVID-19. For the collected data, we used frequency and percentage to make the statistical description, the Chi-square test to make a univariate analysis on the scores of chronic stress and turnover intention scale, and binary logistic regression analysis to explore the influencing factors of turnover intention. Results Out of 143 respondents, we finally received 127 questionnaires, with a response rate of 88.81%. Among 127 respondents, 80.31% of resident physicians experienced varying degrees of chronic stress (mild: 36.22%, moderate: 35.43%, severe: 8.66%), and 74.80% of resident physicians showed varying degrees of turnover intention (mild: 23.62%, moderate: 37.79%, severe: 13.39%). Moreover, age (OR = 0.772, P = 0.042), identity (OR = 8.648, P = 0.021), and chronic stress levels (mild: OR = 6.938, P = 0.003; moderate: OR = 44.049, P < 0.003; severe: OR = 46.141, P = 0.004) can significantly affect turnover intention. Conclusion In this study, we reported a relatively high proportion of resident physicians with high chronic stress and high turnover intention after experiencing COVID-19. We suggest that the relevant departments should pay more attention to the resident physicians’ group and formulate corresponding measures to solve the problems faced by the resident physicians and ensure the stability of the health human resources.

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Section: Discussionmentioning

confidence: 99%

Chronic stress and turnover intention of resident physicians after experiencing COVID-19

Jia,

Qu,

Huo

et al. 2023

BMC Med Educ

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“…This burden of debt has been shown to impact the lives of medical trainees, with the majority of residents indicating that their personal nances are a contributor to their overall well-being and rates of burnout (Connelly & List, 2018). In addition, high levels of debt may have other effects such as in uencing decisions on future practice within the resident's specialty (Glauser, 2018;Harris et al, 2021;Kovar et al, 2021). Speci cally, rising debt has been found to dissuade medical students' pursuit of primary care as a specialty and a systematic review found that the presence of signi cant debt was associated with choice of higher paying specialties (Grayson et al, 2012;Hsu & Caverzagie, 2013;Pisaniello et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Investigating Canadian Radiology Residents’ Personal Financial Literacy: A Nation-Wide Assessment.

Sharifabadi,

Bellini,

Alabousi

et al. 2023

Preprint

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Introduction:Resident physicians throughout Canada carry large debt to finance their education. The literature suggests that debt and money management both play a large role in day-to-day life decisions and in deciding the future of physicians. The objective of this observational study is to assess the financial literacy of Canadian radiology residents through testing their financial knowledge and obtaining an understanding of their financial wellness. Methods:A survey was designed to assess the financial literacy and current financial status of radiology residents. After a pilot run to ensure robustness, the survey was distributed nationally to Canadian radiology residents via Google Forms. Descriptive analyses on preliminary data and the association between level of training and financial quiz scores were obtained. Results:In total, 104 valid responses from 16 universities were received. Respondents’ levels of training were spread across the 5 training levels. The majority (53%) of residents indicated that their debt was greater than $150,000, yet only 12% of residents stated they had a formal financial residency curriculum. The average score of residents on the financial literacy quiz was 71% and survey quiz scores were not associated with training level (p = 0.71). The majority (89%) of residents indicated a strong interest in a formal financial literacy curriculum, with 80% stating they would like the curriculum delivered by other physicians. Conclusion:Our findings demonstrate unique insight into the financial literacy and demographics of Canadian radiology residents. Overall, residents face a high debt burden and the majority feel that they do not have an adequate financial literacy curriculum in their program. Current resident physicians value a formal financial literacy curriculum as a part of their residency program despite existing financial knowledge. Most importantly, residents feel that a curriculum created with involvement of other physicians would be optimal.

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“…Studies have shown that debt negatively impacts medical student career choices, career satisfaction, and overall quality of life [12][13][14]. Additionally, debt has been linked with burnout, irrespective of specialty or level of training [15][16][17][18].…”

Section: Introductionmentioning

confidence: 99%

Financial Literacy Among Medical Trainees and Faculty: A Pilot Study

Zubair,

Sivakolundu,

DeVito

et al. 2023

Cureus

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Introduction: Medical education systems are trained to produce efficient, thorough clinicians. These programs provide limited training on personal finances. The current socioeconomic climate for medical trainees includes increasing education debt and stagnating reimbursement. We conducted a survey-based cross-sectional pilot study at an academic institution targeted at residents, fellows, and attendings of all medical specialties. Our aim was to understand baseline levels of financial literacy at different training and career stages, which can inform targeted interventions to improve this crucial aspect of physician well-being. Methods: A survey was devised with the assistance of a certified financial planner. This survey was distributed at an academic institution targeting residents, fellows, and attendings. The survey was anonymous, and no identifying data were collected. Two reminders were sent to subjects to complete the survey. Results: A total of 50 physicians completed the survey in 2021. There were eight responses from interns, 14 responses from residents (post-graduate year 2 or later), 14 responses from fellows, and nine responses from attendings. The majority of our respondents reported not having any particular financial education, and over 70% of respondents reported that their graduate education had not provided them with the tools needed for personal financial success. Conclusion: Financial education and financial literacy are important topics that need to be further incorporated into the medical education pathway. Physicians are not well equipped in this realm, and further training is necessary. This study provides pilot data that highlight important aspects of physician knowledge and practices in regard to finances.

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Over Worked and Under Paid: How Resident Finances Impact Perceived Stress, Career Choices, and Family Life

Cited by 24 publications

References 14 publications

Chronic stress and turnover intention of resident physicians after experiencing COVID-19

Chronic stress and turnover intention of resident physicians after experiencing COVID-19

Investigating Canadian Radiology Residents’ Personal Financial Literacy: A Nation-Wide Assessment.

Financial Literacy Among Medical Trainees and Faculty: A Pilot Study

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