November 20, 2024- The COVID-19 pandemic exacerbated already high levels of burnout among physicians and contributed to unprecedented departure from the healthcare industry. Future healthcare worker shortages will also be the result of nearly 20% of current physicians being aged 65 years and older, meaning they are soon to retire from the industry. The 65 and older age group is expected to rise to 23% of the population by 2050, according to McKinsey & Company, up from 17% currently. Individuals aged 65 years and older are a higher-need patient demographic, a cause for concern given the expanding gap in the physician workforce.
McKinsey & Company recently conducted a physician survey aimed at unearthing the mindsets that may be pushing doctors in the U.S. out of the workforce. The survey highlights an urgent need for healthcare industry organizations to act to combat burnout. Deploying targeted and effective solutions relies upon healthcare organizations both understanding and addressing the root causes of physician burnout and job departure.
Read more in the latest issue of Repertoire Magazine.