Preparing for the Wave of Physician Retirements: Physician Retirement Survey Data Reinforces Need to Plan
2023 Physician Retirement Survey Results
By Jackson Physician Search
A record number of physicians are nearing retirement age. According to a 2022 report published by the Association of American Medical Colleges (AAMC), nearly half (46.7%) of practicing physicians were already over the age of 55 in 2021. This means more than two of every five active physicians will reach age 65 within the next ten years. Combine this data with what we know about increasing physician burnout, and it’s not overreacting to see the impending wave of retirements as a serious threat to an industry already stretched thin.
The question is not if but when the healthcare industry will feel the full force of the wave. So, just as cities under threat of a hurricane have an emergency plan in place, so too, must healthcare administrators have plans to protect their organizations (and the patients they serve) from a potential tidal wave of retirements… but do they have such a plan?
In an effort to investigate the current plans of both physicians and healthcare administrators, Jackson Physician Search launched a Physician Retirement Survey in November/December 2022. We wanted to find out not only when physicians plan to retire, but also why they will retire and how they hope to make the transition. We asked administrators similar questions with respect to the physicians in their organizations. Download the white paper and read more here.
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