NUTLEY, NJ - The Hackensack Meridian Health Board of Trustees recently voted to establish a $100 million endowment fund for scholarships to Seton Hall Hackensack Meridian School of Medicine on the On3 campus in Nutley and Clifton NJ. The endowment will ensure top students can afford a medical education accourding to co-CEO of Hackensack Meridian Health Robert C. Garrett.
The new school is also unique in that it will offer a three-year program, one of only a dozen or so in the nation to take this approach. This can can significantly lower the cost of a medical education, and subsequent student loan debt..
Additionally, the innovative curriculum will help future physicians navigate major changes in health care that are underway in the United States including the transition to value-based care in which physicians and hospitals are paid to keep people well. It’s a major shift from fee-for-service medicine in which providers are paid for each treatment and procedure.
The first class of 55 students will begin July 9, 2018 in the new school that aims to address the shortage of physicians in New Jersey. It will forge a new path in medical education to address profound changes which have resulted in more community-based healthcare and an increased focus on wellness and population health.
Along with opening the School of Medicine, Seton Hall University will relocate its College of Nursing and School of Health and Medical Sciences to create an Interprofessional Health Sciences (IHS) campus in Nutley and Clifton this spring.