Introduction
California is facing a growing shortage of primary care physicians, one that is already afflicting rural areas and low-income inner-city areas and is forecasted to impact millions of people within 10 years. Not enough new doctors are going into primary care and a third of the doctors in the state are over 55 years of age and nearing retirement age, according to a study by the Healthforce Center at University of California, San Francisco.
That means by 2030 the state is going to be in dire need of physicians and other medical professionals. Studies show that attrition could result in the state losing 10,000 primary care clinicians, including nurse practitioners and physician assistants. Some areas — the Central Valley, Central Coast, and Southern Border region — will be hit especially hard. Remote rural and inner-city residents, communities of color, the elderly, those with mental illness or addiction, and those without health coverage, will especially feel the impact.
The federal government’s Council on Graduate Medical Education recommends 60 to 80 primary care doctors per 100,000 people. Statewide in California, the number already is just 50 per 100,000 — and in some places, it’s even lower: 35 in the Inland Empire and 39 in the San Joaquin Valley, according to a report from The Future Health Workforce Commission.
Among the causes of the physician shortage:
· High student loan debt induces medical students to go into specialty care, which pays more than primary care - only 36 percent of doctors provide primary care.
· Low Medi-Cal reimbursement rates for primary care drive doctors away from low-income areas and primary care.
· Primary care physicians often shy away from rural areas, opting instead to practice in big cities near medical centers and specialists.
· Health professional students do not reflect the diversity of the state, which also influences where new doctors and other health professionals choose to practice.
FOUNDATION CONCEPT
The San Joaquin Valley Medical Scholarship Foundation (SJVMSF) is a 501(c)(3), EIN # 84-3316050 charitable foundation dedicated to empowering students from impoverished communities to enter the healthcare professions. The Foundation will award scholarships to help medical students from rural areas and other disadvantaged neighborhoods in the Valley by trying to pay full tuition costs during their health professional school years. Once they reach their goal of becoming a doctor, the newly licensed provider will return to the Valley to establish their practice. The program’s goal is to help reduce health care provider shortages in the region.
A fundraising goal of $25 million dollars has been established, which will be invested with the goal of generating 4 to 5% a year, enough to pay tuition for five students per year (5 students at $55,000 per year x 4 years = $1,1 million dollars). This will make the Foundation self-sustaining, without the need for further contributions. However, SJVMSF will also seek matching donations such as tuition waivers and/or scholarships from public and private health education entities to match the Foundation’s scholarships.
ANOTHER OPTION for the Foundation is to obtain either a single donation or an annual donation pledge for a 4 year period. Once the SJVMSF reaches combined pledges of $55,000 each year for 4 years, then the Foundation will be able to provide a full tuition scholarship for one student. As each additional $55,000 in annual pledges for 4 years is reached, another student will receive a full tuition scholarship.
A third option is a donation pledge of $1,250,000 for 4 years. This will allow to fund the 20 Residents per year all at once.
NOTE: The medical tuition may be higher than $55,000, due to factors we can’t control.
Student Selection
The San Joaquin Valley Medical Scholarship Foundation will target students from the San Joaquin Valley to receive its scholarships. Some of the poorest communities in the nation are clustered in the central San Joaquin Valley. Census data show 25.4% of Fresno County residents live in poverty compared to 15.1% of all Californians. [1] In some rural communities, poverty rates are upwards of 40% or more. The biggest challenge for these young people is lack of financial resources to pursue health professions education.
Students will include some of those enrolled in the Doctors Academy, a comprehensive, health professions pathway program that serves over 600 disadvantaged students annually in Fresno, Selma, and Caruthers Unified School Districts from 7th to 12th grade. The Academy has been in existence since 1999 under the auspices of UCSF School of Medicine. The program has been highly successful with 100% of program students graduating from high school and 100% accepted into two- or four-year colleges or universities; 92% have matriculated into four-year universities, with about 50% going to University of California schools and private colleges, and 50% going to California State University campuses. Over 80% of students declare majors in sciences and health sciences and over 60% graduate with those majors. The program mentors and guides students who express interest in a health profession but whose families do not have a higher education legacy.
The medical students selected have to be in a Primary Care Residency already, and the medical tuition will be paid retroactive.
Commitment Plan
Research shows that most practitioners stay where they complete their training. Residents awarded a SJVMSF scholarship will be required to sign a contract that specifically states they will become providers in their chosen health profession, practice in the Central Valley, and preferably work in a rural setting for a minimum of 4 years following the completion of their education. Since the students will graduate with no significant debt, they will also be required to go into less lucrative medical disciplines such as Primary Care Pediatrics, Family Medicine, Primary Care Internal Medicine, Primary care Obstetrics and Gynecology, Gerontology, Rehabilitation, etc. Monetary penalties will apply if they decide to change career paths.
Summary
IRS APPROVED AS 501 (C)3 AND CA FRANCHISE TAX BOARD IN 2019 EIN# 84-3316050
- GOAL:
HELP TO SOLVE THE MEDICAL SHORTAGE OF PRIMARY CARE DOCTORS IN THE SAN JOAQUIN VALLEY, BY PAYING FULL TUITION FOR 5 STUDENTS EVERY YEAR OF MEDICAL SCHOOL, FOR A TOTAL OF 20 MEDICAL STUDENTS PER YEAR. To receive the grant, they have already to be a RESIDENT in a PRIMARY CARE PROGRAM.
- STUDENT SELECTION:
MOSTLY FROM UNDERSERVED AREAS
WILL HAVE TO BECOME Primary Care Physicians
WILL GO BACK TO WORK IN RURAL AREAS OF THE SAN JOAQUIN VALLEY FOR 4 YEARS
- FUNDING:
WE ARE LOOKING FOR 25 MILLION DOLLARS SO OUR FOUNDATION MAY BECOME SELF-SUSTAINABLE
WHEN INVESTED WILL GENERATE 4 TO 5% A YEAR
ANOTHER OPTION OF FUNDING :
Another option for the Foundation is to obtain either a single donation or an annual donation pledge for a 4 year period. Once the SJVMSF reaches combined pledges of $55,000 each year for 4 years, then the Foundation will be able to provide a full tuition scholarship for one resident. As each additional $55,000 in annual pledges for 4 years is reached, another resident will receive a full tuition scholarship.
A third option is a donation pledge of $1,250,000 for 4 years. This will allow to fund the 20 Residents per year all at once.
- THE MATH:
$25,000,000 X 5%= $1,250,000 - WHEN ACHIEVED WILL ALLOW THE FOUNDATION TO BE SELF SUSTAINABLE
- TUITION PAYMENT:
AT $55,000 PER STUDENT, 5 STUDENTS PER YEAR=$ 275,000
$275,000 PER YEAR X 4 YEARS OF MED SCHOOL=$1,100,000
NOTE: The medical tuition may be higher than $55,000 per year, due to factors we can’t control.
- FINANCIAL ADVISORS:
WEALTHPLAN PARTNERS, a RIA. MANAGE OVER $400 MILLION OF 501 (C)3 FOUNDATIONS MONEY