Building Financial Fluency in Graduate Medical Education: Highlights from the AOGME GME Finance Intensive Series

The American Association of Colleges of Osteopathic Medicine (AACOM), through the Assembly of Osteopathic Graduate Medical Educators (AOGME), launched the inaugural GME Finance Intensive Series to strengthen financial literacy among graduate medical education (GME) leaders. Held virtually from January through April 2026, the four-month program equipped participants with practical knowledge and hands-on experience in the financial planning and sustainability of residency programs. 

Following a competitive application process, 18 participants representing colleges of osteopathic medicine, health systems and institutions engaged in GME development were selected for the series. Throughout the program, participants engaged in collaborative learning, completed pre- and post-series assessments, and applied their knowledge through a progressive capstone project, strengthening their understanding of GME finance and developing the confidence to engage in strategic financial conversations with hospital CEOs, CFOs and institutional leaders. 

Led by presenter Ward Stevens, DHSc, FACHE, with facilitators John Dougherty, DO, Jeffrey LeBoeuf, EdD, and Matthew Huff, MHA, the series featured four monthly 90-minute virtual workshops combining expert presentations with interactive breakout discussions. Participants also met regularly in small-group mentoring sessions to develop a sample GME pro forma, while optional office hours provided individualized guidance and discussion. 

Across the series, participants explored Medicare Direct Graduate Medical Education (DGME) and Indirect Medical Education (IME) funding, Medicaid GME financing, hospital cost reports and financial modeling. Participants developed financial models using guided pro forma templates to estimate reimbursement opportunities, project costs and return on investment. Optional office hours allowed participants to receive feedback and strengthen their understanding of complex financial concepts as they refined their projects. 

A hallmark of the series was the progressive capstone project, which enabled participants to apply course concepts to a real or simulated hospital setting. Using publicly available data and structured financial modeling tools, participants conducted feasibility assessments, developed pro formas and prepared executive-level presentations supporting the development or expansion of GME programs. 

The series concluded with a capstone showcase, where groups presented their financial analyses and recommendations to Alan Fabian, FACHE, retired hospital executive and former CEO of two hospitals with graduate medical education programs. Through their presentations and discussions, participants demonstrated their ability to communicate complex financial information and translate data into strategic recommendations for institutional leadership. 

AOGME’s GME Finance Intensive Series reflects its ongoing commitment to preparing GME leaders with the financial knowledge, practical skills and confidence needed to strengthen existing residency programs and support the thoughtful expansion of graduate medical education nationwide.