Financial resilience among doctors in training and the COVID-19 pandemic

Kijowsjki, F.; Moore, Stephen; Iqbal, S.; Cronin, Jodi; Milewski, L.; Woods, Noel; O'Reilly, Seamus

Financial resilience among doctors in training and the COVID-19 pandemic

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Financial-Resilience-Among-Doctors-in-Training-and-the-COVID-19-Pandemic.pdf(237.36 KB)

Published Version

Date

2021-06

Authors

Kijowsjki, F.

Moore, Stephen

Iqbal, S.

Cronin, Jodi

Milewski, L.

Woods, Noel

O'Reilly, Seamus

Publisher

Irish Medical Organisation

Abstract

Aim: Deaths of doctors during the COVID-19 pandemic prompted an assessment of financial resilience among doctors in training in Ireland. Methods: In 2020, a 27-item online survey of demographics, work practices and finances was circulated nationally. The results were assessed using multiple correspondence analysis to develop a financial resilience framework. Results: 161 responses were received. Only 26 (16.1%) respondents had income insurance, 10 (6.2%) had composed a will, and 41 (25.5%) had life insurance. 135 (83.9%) had not sought financial guidance and 153 (95%) were not aware of employer supports in event of death/disability. 105 (65.2%) would be considered financially fragile based on their median savings. Using a multiple correspondence analysis, 74 (46%) of the cohort were financially insecure. In the event of death 44/70 (62.9%) of those with dependents, felt that their dependents would not be looked after. Conclusion: The majority of doctors in training lack both financial resilience and knowledge, nor are they aware of financial support structures. Financial management should be incorporated into medical education.

Keywords

Financial resilience , Doctors in training , COVID-19 pandemic

Citation

Kijowsjki, F., Moore, S., Iqbal, S., Cronin, J., Milewski, L., Woods, N. and O'Reilly, S. (2021) 'Financial resilience among doctors in training and the COVID-19 pandemic', Irish Medical Journal, 114(6), P380 (9pp). Available at: https://imj.ie/financial-resilience-among-doctors-in-training-and-the-covid-19-pandemic/ (Accessed: 10 August 2021)