Opening a new medical college in the U.S. currently costs around $200 million and takes approximately 7 years, mainly due to a stringent government certification process. These barriers limit the establishment of new medical schools, contribute to physician shortages, and reduce opportunities for aspiring medical professionals.
Policy: Streamline the approval process and eliminate unnecessary regulatory barriers that make it difficult and expensive to establish new medical schools.
This will increase the number of trained physicians, enhance competition, and improve access to medical education.