About 700 resident physicians and fellows at the University of New Mexico in Albuquerque will receive a 5% salary increase, union and UNM spokespeople confirmed to Becker's.
The Committee of Interns and Residents, a local chapter of the Service Employees International Union, and administration amended their existing labor contract to allow for the raise.
"The wage increase is a great start and urgently needed, but the cost of living, including groceries, in Albuquerque continues to rise," Rupali Gautam, DO, said in a union news release.
Dr. Gautam added that the university trains 97% of the residents in New Mexico, and UNM leadership and state legislators "should be doing everything they can to retain us and ensure that we can live and thrive here. Supporting resident physicians is a public health imperative."
The wage increase comes shortly after Albuquerque-based University of New Mexico Hospital announced 3% raises for employees at its campuses.
With increased Medicaid reimbursements negotiated by the New Mexico Health Care Authority, the hospital is able to provide wage increases for its workers, as well as for the CIR-represented residents and fellows, who are employees of the university.
The hospital shared the following statement with Becker's: "The University of New Mexico and UNM Hospital are grateful to the New Mexico Health Care Authority for helping to increase the Medicaid Reimbursement rate. Through this important work, healthcare workers across UNM Hospital and UNM Sandoval Regional Center, at all levels, will see bumps in their pay. We are grateful to our healthcare teams for the dedication they give to our patients and community."
The wage increase for residents and fellows starts on their Aug. 30 paycheck and remains in effect for one year.