More job opportunities and a greater variety of them are expected for physicians in 2013, according to the American Medical Association News service. Many factors are at play including the fact more physicians are retiring, more physicians are in demand, and the hours a typical physician works daily is on the decline.
According to the AMA News, the 2012 ASPR In-House Physician Recruitment Benchmarking Report showed just more than 50 percent of employment searches were filled, down from 60 percent in 2011.
The Merritt Hawkins firm, a physician recruiting firm, reported similar findings and said in their 2012 Review of Physician Recruiting Incentives report that incentives such as signing bonuses, relocation costs and continuing medical education allowances remain the standard in most incentive programs. Recruitment of physicians into solo practice settings has nearly disappeared at about one percent, down from two percent a year before and 22 percent 11 years ago. Recruitment firms are finding a continuing upward trend of hospital employment that was up to 63 percent from approximately 11 percent eight years ago.
The increase in demand is compounded by the fact most physicians put in about six percent fewer hours and are seeing approximately 17 percent fewer patients daily according to a research survey conducted by the Physicians Foundation. The survey estimated more than 44,000 physicians will exit the workforce in the upcoming four years.
These factors coupled with the Affordable Care Act that is set to fully kick in through the next few years, an estimated 80,000 to 100,000 physicians may retire by the year 2018. Some increases in retirement are from those who may have put off retiring during the recession and the time following it.
All of this should bode well for those physician job seekers though. If many of these trends continue, many physicians will be able to pick and choose of their terms when it comes to when and where they launch or grow a career.
If you are job hunting, make sure to check out our quick tips to help you land a new position.