DEFINING THE COST OF EDUCATING UNDERGRADUATE MEDICAL-STUDENTS AT THE UNIVERSITY-OF-VIRGINIA

Purpose. To develop a model for calculating the cost of a four-year un dergraduate medical education at the University of Virginia School of Medicine (UVA) in 1994-95. Method. All data were based on faculty cont act hours (FCHs), the primary driver of cost. (An FCH was an hour duri ng which a faculty member was actively teaching.) First- and second-ye ar data were derived from a published curriculum schedule. Third-year data were derived from hours spent in each clerkship and a series of c alculations to assess direct teaching time in each clerkship accuratel y. Fourth-year data were modeled on an artificial but typical program consisting of the required clerkship in neurology a two-day course in advanced cardiac life support, and seven elective blocks; electives we re chosen based on relative overall popularity. The number of full-tim e-equivalent (FTE) faculty required was calculated. The salary costs o f UVA full-time faculty were calculated. Other total direct costs, inc luding the costs of support and administrative services as well as the costs of the educational contributions of housestaff and contract fac ulty, were calculated. The overall cost, including direct and indirect . costs, was calculated. An average of 139 students per year was assum ed. Results. The total number of FCHs was just under 100,000. The numb er of FTE faculty required was 223. UVA faculty salary and fringe bene fits totaled $29,400,000. The costs of support and administrative serv ices totaled $4,100,000; the casts of housestaff and contract faculty totaled $2,300,000. The overall educational costs totaled $49,600,000. Conclusion, The overall cost of a four-year medical education at UVA was $357,000 per student. Although the process of calculating this cos t was complex and, at times, based on assumptions open to debate, the model developed can be applied to any medical education setting.