The shortage of physicians has been a continuous topic of discussion within the healthcare industry, and as time moves forward, we are not seeing dramatic shifts in the trend. According to an AAMC report, 20% of physicians are 65 or older, while another 22% are between 55 and 64. With healthcare demand showing no signs of slowing and physicians facing mounting burdens, the workforce is under real strain.
The Impact of Aging in the Workforce
Here’s the reality: aging is inevitable, and diminishing cognitive and motor skills are a part of that process. An aging physician can make errors in their work, ranging from missed diagnoses to mistakes in medication recommendations. Over time, this creates growing opportunities for compliance risks, along with a decline in patient care quality.
This example touches on the day-to-day risk. The broader consequences can extend further: a healthcare organization’s reputation can suffer, higher risks of age discrimination lawsuits increase, and patient health outcomes decline.
What Can We Do to Mitigate Workforce Fears?
While it may feel easy to say that we can rely on the next generation, physician training takes years and requires funding that is difficult to access. The Health Resources & Services Administration reports 49% of healthcare respondents feel burned out, while 43% feel overworked. The stress and mental strain can push physicians out of the workforce entirely. So, what happens next?
What we do know is that aging physicians, who make up a significant share of our workforce, need all the support available. Creating an environment that works alongside physicians – rather than against them– is crucial to retaining our healthcare workforce. That means streamlining day-to-day workflows like data entry, creating alignment between physicians and their organization, and giving physicians space to provide input where it matters.
Beyond the Reality
Addressing the risks of an aging workforce is the first step in transforming the healthcare system we have today. These risks don’t apply to every physician, but the steps we can take can help the overall quality of a physician’s day-to-day work. While success doesn’t happen overnight, at Dynafios, we see our compensation platform and consulting services as tools that improve workflows, productivity, and the organizations that depend on them. If you’d like to learn more about what we do and how it can assist your diverse team, schedule a complimentary consultation with our team today!
