00:00:00 Dr. Timothy McKnight discusses the challenges faced by students, particularly underrepresented minorities, in getting accepted into medical schools. He explains that the competition is fierce, with thousands of applications for a limited number of spots. As a result, many students take gap years to strengthen their resumes through master's degrees, research, or job shadowing. Dr. McKnight, who runs a program at Cleveland State University to help underrepresented minority students prepare for medical school, emphasizes the importance of these initiatives in leveling the playing field. He shares his personal background as a child from an under-resourced school system and highlights the difficulties faced by students from low-income families, under-resourced school districts, foster care, and minority neighborhoods.

00:05:00 Dr. Timothy McKnight shares his experience of entering college in 1978 without Advanced Placement (AP) courses, contrasting it with the current situation where some high school students come as sophomores due to AP courses. He then shifts the conversation to the history of underrepresented minority physicians, discussing the significant impact of the Flexner Report in 1910. The report led to the closure of many medical schools, leaving only Howard University and Meharry Medical College as the surviving historically black colleges and universities (HBCUs) for African-American students. The numbers of African-American physicians continued to decline, with only 2.2% holding practicing positions in 2008. This historical context highlights the challenges faced by underrepresented minorities in the medical field.

00:10:00 The discussion revolves around the representation of African-American and Latino doctors in medical schools. The speaker notes that in 1923, there were seven Historically Black Colleges and Universities (HBCUs) with medical schools, which has since dwindled down to four, with two more about to open. This led to accreditors making diversity a part of the accreditation process, allowing for a gradual increase in the number of African-American and Latino doctors, making up 5% and 7% of practicing positions, respectively. However, recent Supreme Court decisions have some educators concerned about potential setbacks, as the incoming African-American medical school population saw a 21% jump between 2021 and 2022. The speaker also mentions that data is available to track the number of students from different demographics in various medical schools, including non-HBCUs, and the resources and support provided to these students can vary greatly. The speaker shares personal experiences of supporting underrepresented students at Brown University and Cleveland State University.

00:15:00 In this section, Timothy McKnight discusses the need for support services for students, particularly those from Historically Black Colleges and Universities (HBCUs), to succeed in getting into medical school. He highlights the lack of standardized support and the need for larger institutions to provide more resources to underserved communities. Dr. McKnight emphasizes the importance of role models and financial aid in encouraging minority students to pursue medical careers, which can be a long and expensive journey. The conversation also touches upon the National Health Scholarship Corps, which offers tuition, fees, books, and stipends to students in exchange for working at federally qualified health centers upon graduation.

00:20:00 Dr. Timothy McKnight discusses the importance of exposing underserved high school students to various healthcare fields and the possibility of pursuing them. He shares how his father, who graduated from Howard Medical School in 1945, faced challenges and struggles due to racial discrimination, which led to the establishment of black hospitals and a referral network among black physicians. Dr. McKnight emphasizes the significance of welcoming and supporting students from underserved communities, as feelings of unwelcome could deter them from pursuing their dreams. He also mentions the efforts being made to reach out to these communities and schools to provide information about available pathways and support systems.

00:25:00 Dr. Timothy McKnight shares how his experiences with his father, who was a doctor, influenced his decision to pursue medical school. He lost his father during his sophomore year at Brown University and wrote about his father's impact in his medical school application. McKnight also mentions that he has two other siblings who are doctors, both graduates of Howard Medical School. Later in the conversation, they discuss the recent Supreme Court ruling that struck down race-based policies in college admissions. The ruling, which was a 6-3 vote, means that race cannot be the primary consideration in admission decisions. The speakers express concern about the implications of this ruling for underrepresented or underserved minority students and share some guidance from the Department of Justice and Department of Education regarding the use of race in relation to a student's life experiences.

00:30:00 Dr. Timothy McKnight discusses the changes in permissible recruitment and admission criteria for medical schools. While targeted marketing and pathways for specific student groups, such as those from underserved communities, are still permissible, schools must take a more holistic approach in evaluating students. Dr. McKnight shares Cleveland State University's criteria, which includes first-generation college students, low-income families, under-resourced school districts, graduates of foster care systems, veterans, and non-traditional students. Despite the challenges, such as reduced slots for student placements, schools are trying to maintain their mission of uplifting underrepresented students while adhering to the law. Dr. McKnight also shares his work outside of the podcast as the CFO of Grand Vision Capital Group, where they help high-income earners turn their income into real wealth through exclusive investment strategies.

00:35:00 Dr. Timothy McKnight outlines the addition of Morgan State University, an HBCU in Baltimore, Maryland, as a new pathway for students under the Maryland College of Medicine umbrella. Excited about this new partnership, Dr. McKnight emphasizes the importance of serving underserved communities and attracting students from diverse backgrounds. The agreement takes time to establish, and Morgan State is set to open in 2025. With multiple medical schools under their program, Dr. McKnight aims to provide students with various options for their education. This new partnership offers an opportunity for immediate growth and increased attraction to the program. Additionally, students will have the chance to participate in experiential learning opportunities at healthcare centers and receive mentoring at reputable institutions like the Cleveland Clinic. Dr. McKnight currently has two of the "Big Four" reputable Caribbean medical schools, American University of the Caribbean and Ross University, under agreement, ensuring students guaranteed interviews upon graduation.

00:40:00 Dr. Timothy McKnight discusses Pathways to Practice, an organization based at Cleveland State University that helps students, particularly underrepresented minorities, gain entry into medical school. The unique aspect of Pathways to Practice is its partnership with various medical schools, ensuring students are admitted upon completion of the program. Despite concerns over a Supreme Court ruling affecting the program, Dr. McKnight remains optimistic and shares upcoming developments. He also emphasizes the importance of adaptation and having a diverse team to help students succeed. As they approach retirement, Dr. McKnight and his wife rely on multiple income sources, including pensions and social security, to secure their financial future.

00:45:00 The speaker discusses his retirement plans and the importance of financial literacy for young doctors. He shares how he and his wife have multiple income streams, including a traditional IRA, Social Security, an annuity, and part-time work. He plans to leave his current job around age 70 and focus on part-time work. The speaker emphasizes the significance of maintaining good health and encourages listeners to delay retirement benefits to maximize income. He also expresses his intention to provide guidance on retirement planning and financial literacy to young doctors through Cleveland State University, as part of their Pathways to Practice program. The speaker believes that financial education is crucial for medical students, who face significant debt, and plans to host informational sessions on financing medical school and scholarship programs.

00:50:00 Dr. Timothy McKnight discusses the challenges students face when considering careers in healthcare, particularly the financial burden of education. He shares how they are concerned about the income they will earn and the amount of debt they will accrue. Dr. McKnight invites colleagues from the Cleveland Clinic to speak about various healthcare careers and their job markets to help alleviate these fears. He acknowledges the need for instant gratification and the difficulty some students have with delaying it for the long-term benefits of a medical career. Dr. McKnight also shares his personal experience of losing his father and the financial struggles that followed. The podcast aims to help students develop grit and provides resources to get them into medical school.