Medical Education Bubble-NEJM Article

Although this NEJM article is US centric, it makes interesting reading. Even in Indian setting with cost of private medical education rising this question would soon arise. I suspect this we have already witness this with Dental education. Do you think we will be able to justify crores of capitation fees for Radiology degree in Indian Pvt medical colleges in near future?

David Asch and Colleagues write: "Are we in a bubble market in medical education? In medicine, students buy their education from medical schools and residency programs (which pay wages that are lower than the value of the work that residents provide in return). This education is transformed into skills and credentials that are then sold to patients in the form of services. So long as it is believed that patients, or whoever purchases health care on their behalf, will keep paying more and more for physicians' services, students and trainees should be willing to pay more and more for the education that enables them to sell those services."

Full Text Article on NEJM - 

Are We in a Medical Education Bubble Market?  

Perspective: Are We in a Medical Education Bubble Market? 

David A. Asch, M.D., M.B.A., Sean Nicholson, Ph.D., and Marko Vujicic, Ph.D.  October 30, 2013DOI: 10.1056/NEJMp1310778