Characteristic 3: The residency system is financially sustainable.

The following evidence-based indicators should be used for each level of residency development. 

• Program costs include resources and personnel necessary for effective implementation

• Incentives (i.e., resident, mentor stipends) are defined and tied to the value of the residency program to the LEA (Resident Contract)

• 3–5-year strategic plan exists, tied to mission, vision, theory of change, and long-term budget

• Long-term budget projection is defined, including increasing cost savings to the LEA

• Long-term commitment by all partners to contribute the necessary resources to operationalize the program

• All available funding sources are examined and accessed

• Revenue sources are diverse

Level 2 residencies have an established mission and vision and have met the indicators in Level 1. Level 2 residencies are focused on creating and revisiting data-based residency goals. They are paying particular attention to institutionalizing equity and justice work, developing 3-5 year strategic and financial plans, developing program assessment and improvement systems, centering on the resident experience (in coursework and clinical practice), and developing a rigorous mentor recruitment and selection process. 

Research-Based Evidence and Indicators