In 2019, the Hahnemann Medical Center, a safety net hospital in Philadelphia, declared bankruptcy and a consortium of hospitals submitted a winning bid of $55 million for 550 government-funded residency slots. The auction challenges the narrative of teaching hospitals that training residents is a money-losing proposition and provides an opportunity to rethink the role of public financing of graduate medical education (GME) and its nearly 4-decades-old funding formulas.
Grischkan, Justin A., Ari B. Friedman, and Amitabh Chandra. "Moving the Financing of Graduate Medical Education Into the 21st Century." Journal of the American Medical Association. Viewpoint (online), August 26, 2020, E1-E2.