Medical Education Development Act of 2011 - Directs the Secretary of Health and Human Services (HHS) to establish a program of grants to newly accredited allopathic and osteopathic medical schools to support scholarships, develop residencies, build infrastructure, recruit and retain faculty, and develop research programs, for the purpose of increasing the supply of physicians.
Directs the Secretary to: (1) give first priority to schools accredited to admit students from FY2009-FY2014, (2) provide increased funding to schools that enroll larger classes while maintaining competitive faculty-to-student ratios, and (3) allocate funds to only schools that provide accountability and transparency in expending such funds.
Requires: (1) each school to report annually on the specific uses of funds received and on how the grant has benefited the region and the nation; and (2) the Secretary to report annually on the extent to which such grants have increased the supply of physicians, resulted in greater access to health care, enabled the creation of new care models, provided economic regional benefits, and increased the focus on medical students' communications skills.