Think Being a Physician is a Recession-proof Job? Think Again

blossom
Tue, 05 Jan 2021 18:09:40 +0000

It’s a perfect storm for the medical field. Procedures are what drives income (physician income, hospital income, and HMO). But patients are putting off not just the clearly discretionary procedures like cosmetic surgery but also the non-discretionary stuff- colonoscopies, knee replacements, etc. People figure “if I’ve waited this long, another couple of months won’t kill me”.

So patients are avoiding primary care (I missed my annual physical, will wait until I get vaccinated; kids are not getting their immunizations on schedule), AND delaying anything procedure- based unless they are brought to an ER on a stretcher.

How are hospitals supposed to respond? They are delaying making hiring decisions, that’s how. I feel for the doctors coming off their residencies (which are partially funded by the federal government so less sensitive to ups and downs). Who could have predicted this???