Yahoo Finance Article Notes Continuing Healthcare Worker Shortage

A recent Yahoo Finance article by Anjalee Khemlani highlights an ongoing paradox in the healthcare industry: despite consistent job growth, there’s still a significant healthcare worker shortage across the United States. When focusing specifically on physicians, HRSA estimates that the shortage in full time equivalent physicians will increase from 107,850 in 2026 up to 139,940 in 2036. This analysis notes that emergency medicine is expected to have a surplus of physicians, while specialties such as vascular surgery, thoracic surgery, ophthalmology, plastic surgery, and general internal medicine are expected to have significant supply shortages.

The article reports that in May 2024, the healthcare sector added 68,000 jobs, accounting for 25% of the total job gains that month. This trend of healthcare being among the top three sectors for job growth has been consistent since April 2023.

However, this job growth masks an underlying issue: many of these positions are not new jobs, but rather attempts to fill existing vacancies. The industry is grappling with widespread labor shortages, from nurses to doctors. Key factors contributing to this shortage include:

  1. High levels of burnout among healthcare workers
  2. Varying needs in different geographical areas
  3. Competition from non-traditional healthcare roles like telehealth and consulting

The shortage is having a tangible impact on patient care. According to the 2024 Future Health Index report by Philips North America, 81% of healthcare leaders report delays in care due to staff shortages. Healthcare leaders are also concerned with high provider turnover, less experienced providers.

As the healthcare industry continues to grow, driven by factors such as an aging population and increased demand for services, locum tenens physicians will likely be an important way to address this provider shortage to assure quality in the coming years.

Comments About the Continuing Healthcare Worker Shortage

The comments section to the Yahoo article reveals a range of sentiments, with most commenters expressing frustration with the current state of the healthcare system. Several key themes emerged:

  1. Compensation and Working Conditions: Many commenters argued that poor pay and difficult working conditions are major factors in the shortage. One commenter stated, “If they really want highly skilled nurses to stay in the field with knowledge, skills and critical thinking they need to increase wages and offer retention bonuses.”
  2. Corporate Influence and Profit Motives: There was significant criticism of the corporatization of healthcare. One commenter noted, “As long as Americans insist on a for-profit healthcare, this will continue to be a problem. There is plenty of $$ moving through the healthcare system, just not in the right directions or to the right places.”
  3. Burnout and Stress: Many commenters, particularly those identifying as healthcare workers, mentioned high stress levels and burnout. One nurse with 30 years of experience simply stated, “Most of those jobs are terrible. Its that simple. Overworked underpaid.”
  4. Quality of Care Concerns: Some commenters expressed worry about the impact on patient care. One person shared, “My recent hospital experience was an eye opener. Nurses seem to be more concerned about the money they make more than patient care. No standardization on how to do the most basic procedures.”
  5. Systemic Issues: Several comments pointed to broader systemic problems in healthcare. One commenter observed, “The Healthcare system is going to turn into some version of the fast food industry. They are going to start hiring people not qualified enough, people that don’t care much about patients, they just do the job because they need it, and patients will just get shuffled through the lines.”

Overall, the comments reflect a deep dissatisfaction with the current state of the healthcare system among both workers and patients, with many calling for significant reforms to address the ongoing worker shortage and improve the quality of care.

Need help with staffing shortages? Contact BAM. We’ll be happy to try to help.