RED BANK - The envelopes are open, and the first students from the Hackensack Meridian School of Medicine have discovered where they will have their residencies to start their medical careers. Since then, it has been working to reinvent the campus with the moniker ON3, and create a synergy among like-minded businesses geared toward life sciences.The first expected graduates from the inaugural class find their residencies, in time-honored tradition, but a first for the medical school Things began to turn around when Prism Capital Partners of Bloomfield bought the site in 2016. Not only has the region lost those jobs, but Clifton and Nutley lost almost $15 million in tax ratables - $5 million for Clifton and more than $9 million for Nutley. Roche, which began ceasing operations in 2012, provided 8,000 to 10,000 jobs in its heyday. Officials from both Clifton and Nutley are hoping that the school and accompanying research facilities will drive redevelopment of the site as a science and research hub, which is projected to create hundreds of jobs for the region. The medical school takes up only about 20 acres of the site. Regional benefitsįor the region, the medical school is the first of several redevelopment phases planned at the 116-acre former Hoffmann-La Roche site. Medical students can opt for the more traditional four-year program as well. The new school is also different in that it offers a three-year program, one of only a dozen or so in the nation to take this approach, which can significantly lower the cost of a medical education. Given that the United States spends far more than virtually all nations but lags behind its peers in all major areas of health, including maternal and infant health and life expectancy, this approach aims to eliminate disparities in health outcomes by closely coordinating care and intervening earlier, school officials said. The strategy is essential to improve outcomes and lower the cost of care as the nation faces an epidemic of diabetes and other chronic disease, which are costly and in many cases preventable, officials said.

This is a shift from fee-for-service medicine, in which providers are paid for each treatment and procedure, officials said. Prospective physicians will navigate major health care changes that are underway, including the transition to value-based care, in which physicians and hospitals are paid to keep people well, officials said. This could go a long way to addressing New Jersey's expected shortage of physicians, he said. Garrett said one major benefit of a new medical school that provides opportunities for residencies is that students who complete their residencies locally tend to stay in the region. The new medical school will be on the former Hoffman-La Roche campus in Clifton and Nutley. In addition, medical school students will train in a number of Hackensack Meridian Health’s 16 hospitals, including Hackensack University Medical Center. More than just medical studentsĪlong with opening the School of Medicine, Seton Hall University will relocate its College of Nursing and School of Health and Medical Sciences to the site this spring, said Mary J. The endowment will be used to offset all students' medical school tuition, which is currently pegged at $65,000 annually, by at least 30 percent - more for those students with greater needs, school officials said. Garrett said Hackensack's trustees realized that with so new a school, 'It could take some time until philanthropy kicked in.' Financial aid for allĪdditionally, the Hackensack Meridian Health board of trustees recently voted to establish a $100 million endowment fund for scholarships to the school, Garrett said. Garrett, co-CEO of Hackensack Meridian Health, said of the short time frame. 'We always knew that it was going to be tight,' Robert C. That's for 55 slots for the school's first-ever class.Īnd admissions officers don't have much time to make their decision: Classes start July 9 at the campus, on the former Hoffman-La Roche property on the border between Clifton and Nutley. Nearly 1,000 people have applied to the Hackensack Meridian School of Medicine at Seton Hall University, the state's first new medical school in 50 years, since it began accepting applications last week, school officials reported Monday.Īnd by the time admissions close on May 15, said Bonita Stanton, the school's founding dean, officials expect to have several thousand applicants to choose from. Originally appeared on on March 27, 2018.

Hackensack meridian school of medicine