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U.S. Medical School Revenues

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The U.S. Medical School Revenue summary 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 (FY) 2021 is the most recent data covering 155 U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation.

As part of the FY 2021 update, selected summary tables now include a drop-down menu that allows users to choose between showing data from U.S. MD-granting medical education programs with full LCME accreditation and showing data from U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation. In order to maintain the confidentiality of medical schools in breakouts with fewer than five medical schools, summary tables including public medical school and private medical school details only show data from medical education programs with full LCME accreditation.

Like in FY 2020, the FY 2021 summary tables and graphs display Federal Appropriations combined with State, Local, and Parent University Support. This approach reflects the oftentimes commingled nature of the Government and Parent University Appropriations.

Questions about the data or requests for additional comparative data can be directed to Diana Tung, Lead Research and Data Analyst, Data Operations and Services at AFQ@aamc.org.

FY 2021 Medical School Financing Highlights

  • Total revenue supporting the 144 U.S. MD-granting medical education programs with full LCME accreditation was $167.1 billion in FY 2021, which represents an increase of 7.6% from FY 2020. Total revenue supporting the 155 U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation was $167.9 billion in FY 2021, which represents an increase of 7.5% from FY 2020.
  • Of the $167.1 billion in total medical school revenue for U.S. MD-granting medical education programs with full LCME accreditation, $93.1 billion (55.7%) was "recorded" on the books of the medical schools, while $74.0 billion (44.3%) was "not-recorded" (received or borne by an entity other than the medical school such as an affiliated hospital or practice plan). Of the $167.9 billion in total medical school revenue for U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation, $93.6 billion (55.7%) was "recorded" on the books of the medical schools, while $74.3 billion (44.3%) was "not-recorded" (received or borne by an entity other than the medical school such as an affiliated hospital or practice plan).
  • Total federal research grants and contracts supporting U.S. MD-granting medical education programs with full LCME accreditation were $24.0 billion in FY 2021, which represents an increase of 10.8% from FY 2020. Total federal research grants and contracts direct costs for U.S. MD-granting medical education programs with full LCME accreditation were $17.1 billion in FY 2021, which represents an increase of 11.2% from FY 2020. Total federal research grants and contracts facilities and administrative/indirect costs for U.S. MD-granting medical education programs with full LCME accreditation were $7.0 billion in FY 2021, which represents an increase of 9.7% from FY 2020. Total federal research grants and contracts supporting U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation were $24.2 billion in FY 2021, which represents an increase of 10.8% from FY 2020. Total federal research grants and contracts direct costs for U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation were $17.2 billion in FY 2021, which represents an increase of 11.2% from FY 2020. Total federal research grants and contracts facilities and administrative/indirect costs for U.S. MD-granting medical education programs with preliminary, provisional, or full LCME accreditation were $7.0 billion in FY 2021, which represents an increase of 9.8% from FY 2020.

Summary Tables

I. Revenue of U.S. Medical Schools by Source, Fiscal Year 2021 (Excel)

Graphs

I. Revenue of U.S. Medical Schools by Source, Fiscal Year 2021

  • Figure 1: Total and Recorded Revenues by Source for the 144 U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, FY 2021
  • Figure 2: Total Revenue by Source for the 144 U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, FY 2021

II. Percent Change in Revenue, FY 2020 to FY 2021

  • Figure 3: Percent Change in Revenue by Source for U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, FY 2020 to FY 2021 in Current Dollars
  • Figure 4: Percent of U.S. MD-Granting Medical Education Programs with Full LCME Accreditation Reporting a Revenue Decrease, FY 2020 to FY 2021 in Constant FY 2020 Dollars

III. Ten-Year Trends, FY 2012 to FY 2021

  • Figure 5: Ten-Year Trends of Average Total Revenue, U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, Public vs. Private
  • Figure 6: Ten-Year Trends of Average Practice Plan Revenue, U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, Public vs. Private
  • Figure 7: Ten-Year Trends of Average Federal Research Grants & Contracts, U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, Public vs. Private

IV. Revenue by Source, FY 1977 through FY 2021

  • Figure 8: Revenue by Source for U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, FY 1977 through FY 2021
  • Figure 9: Revenue by Source as a Percentage of Total Revenue for U.S. MD-Granting Medical Education Programs with Full LCME Accreditation, FY 1977 through FY 2021

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