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U.S. Medical School Revenues

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The following tables and graphs summarize data from the Liaison Committee on Medical Education (LCME) Part I-A Annual Medical School Financial Questionnaire (AFQ) administered by the AAMC. Fiscal year 2019 is the most recent data covering 141 fully-accredited U.S. medical schools. Like FY 2018, the FY 2019 Summary Tables display Federal Appropriations combined with State, Local, and Parent University Support. This matches the approach used to create the FY 2018 Graphs and also reflects the often times comingled nature of the Government and Parent University Appropriations. Questions about the data or requests for additional comparative data can be directed to Andy Nees, Senior Research and Data Analyst, Data Operations and Services at afq@aamc.org.

FY 2019 Medical School Financing Highlights

  • The data below are for the 141 fully-accredited medical schools in fiscal year 2019: 85 public schools and 56 private schools.
  • Total revenues supporting the 141 medical schools were $148 billion in fiscal year 2019, which represents an increase of 7.4% from fiscal year 2018.
  • Of the $148 billion in total medical school revenue, $84 billion (56.5%) was "recorded" on the books of the medical schools, while $65 billion (43.5%) was "not-recorded" (received or borne by an entity other than the medical school such as an affiliated hospital or practice plan).
     

Summary Tables

I. Revenue of U.S. Medical Schools by Source, Fiscal Year 2019 (Excel)

  • Table 1: Revenues Supporting Programs and Activities at Fully-Accredited U.S. Medical Schools, FY 2019
  • Table 2: Revenues Supporting Programs and Activities at Fully-Accredited U.S. Medical Schools, Public vs. Private, FY 2019
  • Table 3: Percent Change in All Revenues at Fully-Accredited U.S. Medical Schools FY 2018 vs. FY 2019
  • Table 4: Percent Change in All Revenues at Fully-Accredited Public U.S. Medical Schools FY 2018 vs. FY 2019
  • Table 5: Percent Change in All Revenues at Fully-Accredited Private U.S. Medical Schools FY 2018 vs. FY 2019
  • Table 6: Revenues Supporting Programs and Activities at Fully-Accredited U.S. Medical Schools FY 2017–FY 2019
  • Table 7: Revenues Supporting Programs and Activities at Fully-Accredited Public U.S. Medical Schools FY 2017–FY 2019
  • Table 8: Revenues Supporting Programs and Activities at Fully-Accredited Private U.S. Medical Schools FY 2017–FY 2019

Graphs

I. Revenue of U.S. Medical Schools by Source, Fiscal Year 2019

  • Figure 1: Total and Recorded Revenues Supporting Programs and Activities at All 141 Fully-Accredited U.S. Medical Schools, FY 2019
  • Figure 2: Total Revenues Supporting Programs and Activities at All 141 Fully-Accredited U.S. Medical Schools, Public vs. Private, FY 2019

II. Percent Change in Revenue, FY 2018 to FY 2019

  • Figure 3: Percent Change in Revenue by Source, FY 2018 to FY 2019 - All Fully-Accredited U.S. Medical Schools
  • Figure 4: Percent of All Fully-Accredited Medical Schools Reporting Revenue Decrease, FY 2018 to FY 2019, Constant Dollars

III. Ten-Year Trends, FY 2010 to FY 2019

  • Figure 5: Ten-Year Trends of Average Total Revenue - Public Schools vs. Private Schools
  • Figure 6: Ten-Year Trends of Average Practice Plan Revenue - Public Schools vs. Private Schools
  • Figure 7: Ten-Year Trends of Average Federal Research Grants and Contracts Revenue - Public Schools vs. Private Schools

IV. Revenue by Source, FY 1977 through FY 2019

  • Figure 8: Revenue by Source for Medical Schools with Full Accreditation, FY 1977 through FY 2019
  • Figure 9: Revenue by Source as a Percentage of Total Revenue for Medical Schools with Full Accreditation, FY 1977 through FY 2019

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