The recession has caused portfolios and bank accounts to shrink, and the demand for shrinks to…grow?
The recession has slowed the pace of recruiting for those in other medical specialties, but it has significantly increased the demand for psychiatrists, now the fastest-growing specialty need. That’s according to the 2010 Review of Physician Recruiting Incentives, a report by Merritt Hawkins that analyzed 2,813 physician and advance allied professional assignments. During a one-year period ending in March, Merritt Hawkins reports that recruiting requests for psychiatrists increased 47 percent from one year ago—and is up 121 percent from three years ago.
Perhaps to help people address all of the issues that come with challenging economic times—like those shrinking portfolios and bank accounts. Another piece of the puzzle is an aging population of doctors, as more than half of all psychiatrists are age 55 or older. Pair those reasons with less med school interest in psychiatry, and you’ve got a recipe for a growing need.