Supply Responses of Young Physicians: An Analysis of Physicians in Residency Programs.

by Frank A. Sloan

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Reports empirical findings related to work practices and practice mode choice of resident physicians, using data from a [Hospital Physician] survey of interns, residents, and fellows. Many residents earn extra money by moonlighting, mainly in medical activities outside the training hospital. Borrowing is not an important source of funds on average, but some residents borrow a considerable amount. The effect of wages on hours is positive but small; the effect of income is greater. Children exert a positive effect on male and a negative effect on female resident moonlighting hours. In a model of physician supply, total current consumption, leisure, spouse's leisure, and current dissaving are related to nonmarket income, number of children, and factors reflecting ability and willingness to borrow. Recent graduates rate solo practice low, partnerships and groups higher. Practice mode decisions are usually made during residency; academic medicine is often chosen during medical school. Both financial and nonfinancial factors influence choice. 96 pp. Bibliog.

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