HCA resident stipend

[schrodingers shrink]

Has anyone applied to this and had a positive experience. From my research it appears that you will get a monthly stipend during residency training if you agree to work for HCA (Hospital Corporation of America) for 2 years. The key is you have to be in an in demand field (surgery, psychiatry, family medicine, etc.) If you decide not to work for HCA after receiving the stipend, you will have to pay the money back in full immediately or pay it back over the course of 2 years with 12% interest. Other specific information is listed on the website if you are interested. There was a post from 2010 with someone asking about this stipend, but no updates since then. Anyone make this commitment or know someone who did?


Details from Website:

• Financial assistance is available to residents and fellows in selected medical specialties
• Stipend funds are 100% forgiven provided the recipient is on the active medical staff at an HCA-affiliated Hospital for 2 years
• No extra duty/call related requirements - not while in training and not while in practice
• Stipend recipients can go anywhere in the US where there is an HCA hospital and need for their specialty

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[calvnandhobbs68]

Has anyone applied to this and had a positive experience. From my research it appears that you will get a monthly stipend during residency training if you agree to work for HCA (Hospital Corporation of America) for 2 years. The key is you have to be in an in demand field (surgery, psychiatry, family medicine, etc.) If you decide not to work for HCA after receiving the stipend, you will have to pay the money back in full immediately or pay it back over the course of 2 years with 12% interest. Other specific information is listed on the website if you are interested. There was a post from 2010 with someone asking about this stipend, but no updates since then. Anyone make this commitment or know someone who did?


Details from Website:

• Financial assistance is available to residents and fellows in selected medical specialties
• Stipend funds are 100% forgiven provided the recipient is on the active medical staff at an HCA-affiliated Hospital for 2 years
• No extra duty/call related requirements - not while in training and not while in practice
• Stipend recipients can go anywhere in the US where there is an HCA hospital and need for their specialty

Sounds like they can basically tell you wherever they want you to go after residency. Notice the last sentence where it says "anywhere in the US where there is an HCA hospital and need for their specialty". Sooo they can just tell you "sorry we don't need you there, only need FM docs in rural Montana or South Dakota" and those are your options. Cool if you don't mind living anywhere there's a HCA hospital for two years. Would also depend on how much the stipend is obviously. Looks like they pay you as a 1099 (independent contractor), so you're going to get boned for taxes.

 

[gutonc]

Ask yourself, "why are they offering this?".

Is it because they're nice people who want you to have a little extra cash during residency?

Or is it because they're a horror show of a hospital system that has to bribe broke residents to fill positions at s***ty hospitals for crap pay for a couple of years because they can't get anyone else to work for them?

You specifically noted FM, Psych and Gen Surg, but all of the other specialities are well compensated even in hospital employed positions in desirable locations.

Caveat emptor and all that, but this makes the HPSP deal seem like a huge windfall.

 

[Food]

Don't do it man...HCA is...all together, evil. In all seriousness though, look at what they're doing with trauma center certification in states like FLA. the fact that HCA is opening up residency programs is at they very least thought provoking.

 

[PDTY]

HCA currently represents the largest employer or administers hospitals with the most residents under it in the country.
Many contract groups and hospital systems offer this type of stipend once you sign with them for future employment. TeamHealth does, and even my health system offers this.
Only you can choose whether it's a good idea to do this. Generally I would advise to do this in your senior year only. Keep your doors open in your first years.

One interesting thing with my employer was that if I left my employer prior to year 2, I had to pay back my signing bonus at a prorated amount. There was no clause in the contract about the residency stipend having to be paid back