The state¡¯s new (HELP) is alleviating the educational debt of 492 medical and healthcare professionals, who were notified of their acceptance into the program in late December.
Related UH News story: Loan repayment plan addresses Â鶹´«Ã½¡¯s healthcare industry shortage
HELP was developed by the Governor¡¯s Office, the University of Â鶹´«Ã½ at ²Ñ¨¡²Ô´Ç²¹ (JABSOM), the Healthcare Association of Â鶹´«Ã½, the State Department of Health and others to ease the shortages of physicians and other health care professionals by retaining those who already practice in Â鶹´«Ã½ and recruiting those who are in medical residency training programs on the U.S. continent.
“It is so rewarding to see this program come to fruition, as it was this type of assistance that first brought me to Â鶹´«Ã½ so many years ago,” said Gov. Josh Green. “HELP will prove to be a great start toward decreasing our longstanding and challenging shortage of healthcare professionals across the state.”
First HELP cohort
The first HELP cohort includes close to 300 primary care and behavioral health providers across the state, 90 other specialties or professions practicing in rural areas, and about 40 medical residents in training. Retaining these professionals ensures Â鶹´«Ã½ will not lose them to other states.
The average indebtedness of physician applicants is about $185,000, with 20% having more than $300,000 left to pay off.
“The COVID-19 pandemic took its toll on many, especially those in private practice,” said JABSOM Interim Dean Lee Buenconsejo-Lum. “Most have not fully recovered and face difficult decisions about staying in Â鶹´«Ã½. This program helps us keep local doctors and other providers here despite our very high cost of living and myriad other challenges.”
In exchange for two years of full-time service in Â鶹´«Ã½, high-demand healthcare professionals will qualify for loan repayments up to a maximum of $50,000 per year. The eligible amount varies depending on the profession, location of practice and educational indebtedness. All must provide care to, or work for organizations that have at least 30% of their patients receiving public insurance.
Building on existing foundations
HELP builds on the decade-old, federally funded Â鶹´«Ã½ State Loan Repayment Program. The HELP program reaches more healthcare professionals in one year than the prior program reached in the past 10 years. The 2023 Â鶹´«Ã½ State Legislature provided an unprecedented $30 million over two years in educational loan repayment for health professionals licensed or otherwise certified to practice in and provide care to patients in Â鶹´«Ã½.
Marc and Lynne Benioff are providing major philanthropic support for HELP with an additional $5 million over two years, to help retain health professionals on Â鶹´«Ã½ Island. Out of the first 400 recipients, 77 from Â鶹´«Ã½ Island will receive loan repayment from the state funds. An additional 65 Â鶹´«Ã½ Island providers will receive funding from Marc and Lynne Benioff in this first round.
.