With the average total debt of medical school graduates now exceeding $200,0001, and financial stress and uncertainty contributing to doctor burnout, building financial acumen is more important than ever for the next generation of physicians.
MEDSKL, a leading e-learning platform which reaches medical students from more than 400 universities globally, aims to tackle this issue with the launch of a dedicated financial literacy channel. Financeology: where medicine, business and personal finance intersect will help medical students and new doctors improve their knowledge of personal finance and practice efficiency. Launched in collaboration with RBC Healthcare, the channel offers the next generation of physicians key personal finance strategies to help them make sound financial decisions so that they can focus on what matters most: helping patients.
"Student debt has risen three-fold over the past few decades. This is causing significant doctor stress and burnout," said Dr. Sanjay Sharma, a professor of ophthalmology at Queen's University and the founder of MEDSKL. "We have partnered with over 200 leading specialists to help teach students around the world how to be better clinicians. Today we are excited to launch our Financeology channel to address another core need: how doctors can make good personal and business financial decisions."
MEDSKL's Financeology channel launches with a series of animated lessons focusing on the concept of good versus bad debt. The channel will feature modules to educate doctors about business fundamentals, and making their practices more efficient as the cost of operating a clinic increases, while managing increased patient demand as our population ages and as the impacts of the pandemic evolve. The channel is accessible for free to students, residents, and doctors at medskl.com.
"We've worked with MEDSKL to co-create financial content that's relevant to medical students in the early stages of their careers. Many students have a learning gap when it comes to managing their personal finances. The MEDSKL platform enhances the training doctors receive at medical school to help them prepare for their careers, and life after school. We're proud to support MEDSKL and their innovative and accessible approach to e-learning, and our collaboration reflects the core mission of RBC Healthcare to support the personal and professional needs of healthcare professionals throughout their journey from student to practitioner."
Flora Do, Vice President, RBC Healthcare
MEDSKL is a leading e-learning platform that helps medical students from over 400 Universities become better clinicians. Its core medical content, created by award-winning medical experts in over 25 specialties, addresses the 150+ clinical presentations that are the foundation of medicine.
About Dr. Sanjay Sharma
Dr. Sanjay Sharma is an eye surgeon and professor of ophthalmology at Queen's University. He has authored over 200 articles and three books and has received awards from the Canadian Institutes for Health Research, the Association of Faculties of Medicine in Canada, and the American Academy of Ophthalmology. The creator of a series of e-learning platforms, Dr. Sharma completed his medical training at Harvard University.
About RBC Healthcare
RBC Healthcare was created to address the needs of healthcare professionals at every stage of their learning journey and career. RBC Healthcare has a network of more than 1,000 RBC Healthcare Specialists who are trained to understand the unique financial needs of healthcare professionals at each of their life stages. The RBC Healthcare Advantage and RBC Healthcare Advantage Pro plans are designed to deliver solutions to address the financial, lifestyle, and practice management needs of eligible healthcare professionals who join, or are already banking with RBC.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 88,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries.