People do not do a strict cost benefit analysis when deciding their line of work. See: English majors.
The market is being distorted by lack of residencies. This could possibly also distort the cost of medical school. It is not an undersupply problem of people wanting to be a doctor.
- A CS student graduates around age 24.
- A physician finishes their formation around age 30 or more.
How is this important?
- 6+ more years of substantial pay / debt
- No real salaries for 6+ years
- Around 6+ years of fewer professional experience as your target occupation.
By the time the physician is done with all the preparation, the CS student may be already a senior engineer and may have vested stock options.
If we add up those things, we could say that's equivalent to not having a salary for like 10 years, relative to the CS guy.
What is the incentive for going through all that? higher pay.