Along with burnout and the shift to value-based care, the impending physician shortage is a hot topic in the healthcare industry.
Four things to know about the physician shortage:
1. An aging population. According to healthcare analytics company Definitive Healthcare, over half (52 percent) of the physician workforce is 55 or older and on their way to retirement. At the same time, the aging Baby Boomer generation is requiring more care, leaving a shortage of physicians to care for them.
2. Medical school and residency limits. While there may be a looming shortage of physicians on the horizon, it remains difficult to train as a physician. Medical schools are selective, and residency programs are capped by the government.
3. Rural hospital shortages. With more Millennials moving to big cities and with fewer physicians wanting to move to rural areas, many rural hospitals are facing a shortage of physicians.
4. The states most likely to be affected. States in the West and South may be more likely to face a physician shortage than those on the East Coast, according to a survey by the Senior List. According to the survey, the states most likely to face a physician shortage are Wyoming, Montana. Mississippi, Oklahoma and Arkansas.