After graduation, a medical school alumnus spends one year of internship before they continue their residency program, which lasts anywhere from three to eight years. Within this period, a resident can either validate their chosen specialization or switch to another field.
Either way, post-graduate internship and residency programs are necessary to establish a profession in the medical field.
While there are plenty of best possible ways to prepare for an internship, one should not forget to plan for the costs involved. Below are some of the fees related to completing an internship program.
Understanding Medical Internships
Not all medical internships are the same. These post-graduate programs are conducted in various settings, including hospitals, research labs, universities, and medical or non-profit organizations. Some programs allow interns to cross-train in several hospitals and healthcare organizations.
Medical interns may have a degree, but they’re not allowed to diagnose and treat patients on their own. They must work under the supervision of an experienced professional like a senior resident. Common tasks include recording and updating patients’ medical histories, examining patients and recommending treatment plans, and performing basic medical activities.
The Costs of Medical Internship
Medical internship fees vary from program to program but significantly depend on the institution, location, internship length, and program inclusions. To give you an idea, a non-government organization that facilitates overseas clinical internships charges USD$ 3,000 to USD$ 4,000 for a six-week stint, depending on the destination and excluding the registration fee.
Meanwhile, interns who applied through the Association of Psychology Postdoctoral and Internship Centers (APPIC) spent USD$ 1,800 on average.
But medical interns spend way more, as their programs tend to last longer. To simplify, a medical internship applicant has to prepare a budget for the following:
Application Fees
Application fees vary and typically range from USD$ 15 to USD$ 95 for domestic internships and a few hundred for overseas internships. Again, longer internships cost more than shorter training.
Transportation Costs
A medical degree holder who chooses an internship program outside their residence is often responsible for the transportation cost incurred from their location to their assigned placement. Some internship program costs, especially those conducted overseas, may include a round-trip ticket to and from the intern’s place of origin.
A medical intern’s transport costs will depend on their location. Airline tickets are costlier than buses, trains, and other modes of transport. This is why the need to travel by air should be a major consideration.
Living Expenses
Some internship programs offer accommodation to interns, while others don’t. If you’re left to choose where to stay, your living costs will depend on which city you’re in. Estimates reveal that those who live in New York spends USD$ 3,723 per month on average, while Los Angeles has cheaper rates with USD$ 2,975, per livingcost.org. These expenditures often include:
- Rental and housing
- Food and groceries
- Transportation
- Taxes
- Utilities like phone and internet
- Fitness and healthcare
Saving on any of these fees, especially rental costs, may be challenging but possible. Instead of sacrificing your safety, consider living in a relative or friend’s apartment. You can also ask the program facilitators about current or previous interns who may be open to co-renting or hosting visitors for minimal fees. Doing so can reduce your internship expenses while working to repay your student loan debts, if you have them.
Insurance and Other Costs
Medical interns must also provide additional payments for other miscellaneous expenses before, during, and after an internship. Some organizations include travel insurance costs in their placement fees, which may cover medical evacuation, medical and dental bills, and lost or damaged luggage.
Medical interns, especially those outside the US, must purchase health insurance to cover medical expenses. A year-long policy coverage can set you back another USD$ 1,000.
Medical interns from other countries likewise need to pay for associated travel costs, including J-1 visa application for interns and trainees and a Student and Exchange Visitor Information System (SEVIS) registration which can rack up a few hundred more.
How Much Does a Medical Intern Make?
Interns who specialize in specific medical fields are paid differently, depending on their location and area of specialty. The intern’s years of residency can also be a factor.
On average, medical interns in the US make USD$ 50,843 per year, earning a median hourly rate of USD$ 24.44. Those who choose to do internships overseas may be paid minimal compensation or allowance.
Final Thoughts
Medical internships are an integral part of learning. Medical school graduates can apply their knowledge to various practical settings by participating in such programs. Experiencing how things work in the real world lets interns gain valuable insights that could guide them toward the right career path.
However, a domestic or overseas medical internship entails specific costs. Knowing which program aligns with your skills and qualifications and the field you want to explore is the first step in optimizing your budget.
