NewYork-Presbyterian Announces $25 Million Gift from the W. P. Carey Foundation to Transform Residency Program

NewYork-Presbyterian recently announced a $25 million gift from the W. P. Carey Foundation to prepare the next generation of physician leaders to shape the future of medicine.

The transformational gift will support the renowned residency program in creating a new curriculum designed to provide residents with the skills needed to be a doctor in the digital age, including foundational training in digital medicine, big data analytics, artificial intelligence, machine learning and other advanced technologies.

“We are grateful to the W. P. Carey Foundation for their steadfast partnership and commitment to developing the future leaders of medicine,” said Dr. Steven J. Corwin, president and CEO of NewYork-Presbyterian. “With the W. P. Carey Foundation’s extraordinary support, NewYork-Presbyterian is advancing the way graduate medical education is delivered, preparing our residents for an evolving health care landscape that leverages technology to put patients’ needs first.”

The NewYork-Presbyterian enterprise-wide graduate medical education program has been named the W. P. Carey Residency Program. The gift will also establish the W. P. Carey Scholars, a group of exceptional physician trainees who will play a key role in the continued development of the curriculum and launch innovative projects related to telemedicine, big data analytics, and AI.

“The W. P. Carey Foundation is proud to partner with NewYork-Presbyterian to support the next generation of physicians and deepen our longstanding commitment, made initially by our founder, Bill Carey, to giving back to the community,” said William P. Carey II, chairman of the W. P. Carey Foundation. “We look forward to seeing the positive impact the W. P. Carey Residency Program will have on the future of medicine.”

The W. P. Carey Foundation has a long legacy of giving to NewYork-Presbyterian. The late Bill Carey’s vision and extraordinary generosity led to the creation of the W. P. Carey Emergency Unit, which expanded the NewYork-Presbyterian/Weill Cornell Medical Center emergency department. The facility has been critical to caring for New Yorkers every day as well as the influx of patients during the COVID-19 pandemic. This legacy was continued in the gift of Mobile Stroke Treatment Units, emergency vehicles equipped to provide immediate, specialized care to patients who may be experiencing a stroke.

This latest gift will have a profound impact on medical education. NewYork-Presbyterian is one of the largest and most renowned centers for graduate medical education in the nation, with more than 175 accredited programs and over 2,380 trainees in every area of medicine. It is responsible for training one out of every 70 physicians in the country.

“We thank the W. P. Carey Foundation for their visionary philanthropy and for recognizing the importance of graduate medical education and how central residents and fellows are to the future of health care,” said Dr. Julia Iyasere, senior vice president of health justice and equity and executive sponsor of graduate medical education at NewYork-Presbyterian, and Dr. Lauren Wasson, chief academic officer and vice president of graduate medical education at NewYork-Presbyterian, both of whom completed their residency training at NewYork-Presbyterian. “Medicine is changing rapidly, and this gift will allow us to be at the forefront of innovation as we train the doctors of tomorrow.”