In a yearly survey done by physician search engagements, AMN Search Solutions/Merritt Hawkins conducts on behalf of its clients, demand for physicians is rising. The failure of seven bipartisan bills in the last 12 years before pandemics has long-term implications. American Medical Colleges (AAMC) now projects a shortage of up to 132,000 physicians by 2032. Population growth, Chronic disease, aging population, social determinants of health (Poverty and health illiteracy), Increasing mental health issues, and increased enrolment in ACA will drive the demand even higher. There is a higher demand for specialists like Neurology, Psychiatry, GI, Hem/Onc., and Dermatology. Then there is the storm cloud of student debt. With the average medical school graduate inheriting a total educational debt of nearly $250,000, it’s no wonder most choose to become specialists, who earn salaries 267% higher than those of primary care doctors.
What is changing from our end? There are more graduates since 2009, but residency slots have not increased; physicians are getting older and retiring due to more financial stability, we spend more time in EMR/paperwork and insurance demand, Low morale and higher burnout, changing workforce (work-life balance choosers, female physician and employed – all see fewer patients) and the continued uncertainty of covid. Early graduation, increase in residency slots, more virtual visits, proper recruitment and retention of physicians by employers, and proper use of PA/CRNAs. No one talks about how to keep those near retired or post retirees allowed to work part-time with flexible schedules, reduced malpractice burden, and removing the requirement to be board certified.