What is a residency? Residency is a specific stage of graduate medical education. It refers to a qualified physician, podiatrist, dentist, pharmacist, or veterinarian (one who holds the degree of MD, DPM, DDS, DMD, DVM, DO, BDS, PharmD, or BDent; or MB; BS, MBChB, or BMed) who practices medicine or pharmacy, usually in a hospital or clinic, under the direct or indirect supervision of a senior medical clinician registered in that specialty such as an attending physician or consultant.