The Need for a Medical School
According to workforce projections from the Association of American Medical Colleges – and despite the amazing work being done by current physicians – by 2034, there will be:
- A shortage of 17,800-48,000 primary care physicians
- A shortage of 21,000-77,100 non-primary care, specialty physicians
COVID-19 raised awareness about health disparities and access to care by minority populations, rural populations, and those without insurance. If underserved populations had fewer barriers, demand would rise such that the nation would be short 102,400-180,400 physicians.
Jobs, Businesses & Revenues
The partnership between Methodist University and Cape Fear Valley Health will also contribute to the economic development of the region. The proposed medical school is expected to create jobs and attract new businesses to the area, providing a significant boost to the local economy. According to a July 2021 report from Walden Economic Consulting, detailed analysis reveals substantial financial and employment impacts from the proposed medical school.
- Regional spending will increase by $124 million
- Tax payments to all governments will rise by $14.2 million
- 922 local jobs will be generated
At the peak of medical school’s operational capacity:
- $72 million annual spending
- 837 permanent jobs
- $9.6 million in tax revenues