The US is home to the world’s largest medical jobs service industry, generating upwards of $1.75 trillion in revenue annually and employing 14 million people. By the estimates of the US Bureau of Labor, the medical jobs industry is on course to generate 3.2 million additional jobs by 2018.
The reality is different. In hospitals and medical schools across the country, the feeling is that doctors’ jobs are increasingly harder to find. Current trends in the medical jobs industry back this perspective. However, it’s not like the physician employment market has dried up – many new physicians per month are hired into hospitals and other medical firms across the country. However, there is a definite slowing down of demand for doctors, even as demand for other medical professionals remains steady.
Two major factors are causing all these jitters. There are fewer doctors vacancies compared to other medical jobs. First is a mismatch between job losses and new vacancies in the medical industry as a whole. According to the Bureau of Labor figures, the medical sector added 2,500 new jobs in July, marking the worst monthly growth rate since July 2003. Doctor’s vacancies are therefore suffering in part because the entire industry is feeling the heat of a weaker economy.
Hospitals apparently did worse than the rest of the industry, losing 4,400 jobs – to make up 13,000 job losses since May. Of course, it couldn’t be that only doctors lost vacancies in hospitals. The problem is that whatever physician vacancies were lost are unlikely to be matched by new medical jobs any time soon. This is because, going forward, the medical sector that is anticipated to attract the fastest growth – at 40% – is the home healthcare and diagnostic laboratories where fewer doctors are typically required. That is not good news for doctors because, even in the best of times, they tend to get less of the market share compared to the clerical and technical support cadres in hospitals, scientific research laboratories, pharmaceutical and biotech facilities.
The medical job market is uncertain of the affordable healthcare act. New quality measures and Medicare’s move away from fee-for-service reimbursements are expected to have a major impact across the industry. But there is no consensus over what exactly all this will mean. With increases in costs to employ full-time people, employers are combating it by not hiring as many people full-time.
Medical firms. They are playing it safe, holding back from hiring new doctors until the coast is clear. Others are shedding staff, choosing to err on the side of caution. Yet others are taking in more doctors, betting on improved efficiency and increased patient volumes as previously uninsured people enter the new medical insurance bracket.
We expect the job market for physicians to get worse before it ever gets better. There will be vacancies, of course, but they will be more competitive and call for more flexibility. This requires recruiters to use more effective means of finding medical jobs. A site like Doctors Choice Placement is a great way to do so. When you have a large amount of job postings you can apply for, you are more likely to get interviews. If you are getting more interviews the likelyhood is that you will have a higher probability of landing your job. Numbers are your friend so consistently looking for updates on sites like this is essential.
Thank you for reading this article if you enjoyed this please share this with your friends.
Make sure to like us on Facebook if your interested in more articles like these.« Back