swc65 wrote: BVest wrote:
swc65 wrote:I think this is key. If we capped # of schools, the remaining schools would just up their enrollment and it wouldn't change anything. Capping the number of graduates is def. antitrust territory (unless you're the AMA, ADA, etc)
In what way do you think AMA, ADA, etc., are exempt from antitrust concerns. I can assure you that antitrust is the primary legal concern for large associations.
Sorry the AAMC, really controls new schools and enrollment. I think, in 2005, they open the first new med school in 20 years!!
I am not saying they are EXEMPT from antitrust concerns. Just that they seem to be more successful at controlling their market.
There are other factors too such as Congress limiting spending on medical residencies etc etc.
It's more economic than market control. While the LCME certainly has some limitations on expansion and strict rules for for initiating and running a training program, the ABA, also has its similar structure.
The difference is that the cost of establishing or expanding a program which meets the ABA's required educational structure is far, far lower than the cost of establishing the same for medicine. Further, the cost of education is far lower for law than medicine. The result is that law schools are established where students paying sticker are paying all of their expenses, plus some of those for their classmates; meanwhile medical students paying sticker are actually paying 1/2 to 1/3 of the annual expense to educate them, with schools scrambling for grants, fees, state funds, and other sources to pick up the rest.
Add to that the MAJOR differences in facility requirements between medical and law schools and the extended lead time to establish a medical school, and it's a no-brainer that a university seeking to expand its portfolio or a group seeking to start a school for scratch would favor law (and business) over medicine.
(BTW, the Texas Higher Education Coordinating Board put out an excellent document
on the cost of starting a new medical school a few years back. The six-year start-up costs, before taking their first class of 60 students, was estimated at $92million)
(BTW2, the other way for a university to expand their portfolio without establishing a new business/law/med school is to buy one, like Texas A&M did with Scott & White for Medicine, and like they just announced today with Texas Wesleyan for law. Given A&M's growing significance in Texas and it's demonstrated ability to improve, I would expect Texas Wesleyan to come crawling out of the 4th tier fairly quickly.)