Rates of Return to Dentistry and the Decision to Enter Dental School

Maurizi, Alex

doi:10.2307/144989

Cited by 6 publications

(6 citation statements)

References 5 publications

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“…Similarities exist between our methodology and that used in previous works 1 , 2 , 10 – 13 . Like previous researchers, we acquired direct cost information from the ADA's Annual Survey of Dental Education.…”

Section: Discussionmentioning

confidence: 97%

“…Denote by C t inflation‐adjusted (real) total cost of attending dental school, where t is the index of years in dental school (t=0, 1, 2, 3). Let Y t (t=4, 5, …,43) represent the stream of real income from the year following graduation from dental school to retirement at age sixty‐five; denote by Z t the real income stream of an individual who graduates from college with an undergraduate degree; and let r t stand for the real discount rate in period t. We can then express the net present value (NPV) 1 , 16 of lifetime income stream of a prospective dental student as follows:

N V P = - (C_{0} + \frac{C_{1}}{(1 + r_{1})} + \frac{C_{1}}{{(1 + r_{2})}^{2}} + \frac{C_{3}}{{(1 + r_{3})}^{3}}) + (\frac{Y_{4} - Z_{4}}{{(1 + r_{4})}^{4}} + \frac{Y_{5} - Z_{5}}{{(1 + r_{5})}^{5}} + \dots + \frac{Y_{43} - Z_{43}}{{(1 + r_{43})}^{43}})

…”

Section: Methodsmentioning

confidence: 99%

“…A review of the literature identified two relatively recent articles that addressed the ROI for postdoctoral dental education 10 , 11 and only a handful of older articles that directly addressed the rate of return (ROR) for a predoctoral dental education. The hypothesis that the decision to enter dental school is directly related to the relative ROR of becoming a dentist was first examined in a study published in 1975, which concluded that ROR had an influence on the occupational choice of the applicant 1 . A similar study published in 1982 also compared the ROR to the size of the dental school applicant pool and drew the same conclusion 2 .…”

mentioning

confidence: 99%

“…This long‐term value is best expressed by investigating the return on students’ financial investment in their education over the course of their dental careers. These future economic prospects from the practice of dentistry are fundamental to the decision to apply to dental school 1 , 2…”

mentioning

confidence: 99%

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The Economic Costs and Benefits of Dental Education: An Empirical Analysis

Stafford

Nourzad

Lobb

et al. 2014

Journal of Dental Education

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The rising costs associated with obtaining a dental education have caused some to question the inancial beneit of pursuing a dental degree. There is a concern that recent graduates may have dificulty inding professional opportunities that provide the income necessary to service their accumulated educational debt. The aim of this study was to evaluate the trends in educational costs to aid in making an accurate appraisal of the inancial beneit of a dental education. Adjusted into constant dollar terms, data from a variety of sources were collected for economic variables such as tuition, fees, student indebtedness, and dentists' earnings. These variables were then analyzed to determine the true costs and beneits of obtaining a dental education. The results showed that, over the course of the last decade, educational costs increased faster than the real net income of practicing dentists, which led to a decline in the return on investment in dental education. However, regardless of an applicant's choice of public or private dental school, there continues to be a positive economic return on students' commitment of both inancial resources and time to receive a dental education.

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Section: Discussionmentioning

confidence: 97%

N V P = - (C_{0} + \frac{C_{1}}{(1 + r_{1})} + \frac{C_{1}}{{(1 + r_{2})}^{2}} + \frac{C_{3}}{{(1 + r_{3})}^{3}}) + (\frac{Y_{4} - Z_{4}}{{(1 + r_{4})}^{4}} + \frac{Y_{5} - Z_{5}}{{(1 + r_{5})}^{5}} + \dots + \frac{Y_{43} - Z_{43}}{{(1 + r_{43})}^{43}})

…”

Section: Methodsmentioning

confidence: 99%

mentioning

confidence: 99%

mentioning

confidence: 99%

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The Economic Costs and Benefits of Dental Education: An Empirical Analysis

Stafford

Nourzad

Lobb

et al. 2014

Journal of Dental Education

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“…Studies employing this approach generally found significant positive returns to medical education. However, depending on the time period of observation, the particular physician specialties, the comparison occupations, and the estimation technique, the estimated returns to education varied widely (Burstein & Cromwell, 1985;Friedman & Kuznet, 1945;Leffler, 1978;Leffler & Lindsay, 1980;Lindsay, 1973;Marder & Willke, 1991;Maurizi, 1975;Weeks, Wallace, Wallace, & Welch, 1994;Wilkinson, 1966).…”

Section: Literature On Health Worker Licensurementioning

confidence: 99%

Changing Research Perspectives on the Global Health Workforce

Bärnighausen¹,

Bloom²

2009

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Past research on the health workforce can be structured into three perspectives-"health workforce planning" (1960 through 1970s); "the health worker as economic actor" (1980s through 1990s); and "the health worker as necessary resource" (1990s through 2000s). During the first phase, shortages of health workers in developed countries triggered the development of four approaches to project future health worker requirements. We discuss each approach and show that modified versions are experiencing a resurgence in current studies estimating health worker requirements to meet population health goals, such as the United Nations' health-related Millennium Development Goals. A perceived "cost explosion" in many health systems shifted the focus to the study of the effect of health workers' behavior on health system efficiency during the second phase. We review the literature on one example topic: health worker licensure. In the last phase, regional health worker shortages in developing countries and local shortages in developed countries led to research on international health worker migration and programs to increase the supply of health workers in underserved areas. Based on our review of existing studies, we suggest areas for future research on the health workforce, including the transfer of existing approaches from developed to developing countries.

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Aids and the Market for Nurses

Kalist¹,

Spurr²

Research in Labor Economics

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Rates of Return to Dentistry and the Decision to Enter Dental School

Cited by 6 publications

References 5 publications

The Economic Costs and Benefits of Dental Education: An Empirical Analysis

The Economic Costs and Benefits of Dental Education: An Empirical Analysis

Changing Research Perspectives on the Global Health Workforce

Aids and the Market for Nurses

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