This paper reviews different ways to finance a new medical school. There will be a shortage of 46,000-90,000 too few physicians by 2025. To help close the gap, new medical schools need to be founded and financed.
The first section of this paper discusses the main costs that institutions face when attempting to start a new medical school. The paper then goes into describing four different ways that medicals schools can finance themselves. The paper looks at government funding, endowment, for-profit model, and partners as the different theories to finance such a large project.
Additionally, the paper looks at three new medical schools; Texas Christian University, Texas Tech University Health Sciences Center- Paul L. Foster School of Medicine, and the Commonwealth Medical College of Pennsylvania. The paper discusses the different strategies and approaches each of these schools took to finance their new medical school. It then discusses the changes that may need to be made in the future to streamline the process to finance a medical school.