Orthopedic Job Outlook
About 4% of all 650,000 doctors are specialized in Orthopaedic Surgery according to the Labor Dept. More than half of the doctors practicing orthopedics are general orthopedics, while eleven percent are spinal, 10 percent are sports medicine, and the remainder concentrate in other sub-specialtiesof Orthopedics. The main issue is that as numerous as thirty-three % of today's practicing healthcare providers may retire by the year 2020.
The Aging population
There is particular concern that in the near future as older healthcare providers retire there is not enough physicians coming up for the increased demand caused by the growing older populace. Rural areas in particular are vulnerable to attracting and retaining physicians. Orthopedic surgery jobs are important and will continue to be in high demand, with employment opportunities expected to grow faster than average between now and 2014. As the elderly demographic of the US increases, there will be a elevated incidence of musculoskeletal conditions that occur with getting older. As our citizenry ages and our need for health care expands, the need for health care in the US is expected to continue to grow.
The Bureau of Labor Statistics shows continued growth for surgery job opportunities, specifically in rural areas of the U.S. where there is a low ratio of doctors to the citizenry . The earning capability for Orthopedic Surgeons can range from $350,000 to more than $500,000, the highest salaries being found in the private practice arena.
Slow Economy
Other factors are also impacting the future demands in both directions besides aging population, the shrinking economy and finally the impending health care "reform". The general economic slowdown and the ensuing job loss across the country has had a direct impact on the revenue stream to physicians. When people lose their work, they also lose their health care benefits and so access to health care. This loss is felt more in some parts of the country than others but this should mitigate any shortages for the short term.
Last years stock market breakdown has had a major impact on older physicians' decisions. numerous doctors are postponing retirement because of the economy's impact on their retirement stockholdings. many physicians lost such a large part of their portfolio that they need to continue working to replace their loss. But even a three - to five-year delay won't dispatch the lurking loss of experienced healthcare providers to retirement. This deferral has resulted in some cases that fewer careers being currently offered and graduating residents not finding as a great deal opportunities as before. Residents rather than committing themselves to less desirable career opportunities are opting for Orthopedic locum employment opportunities and waiting before committing to full time employment.
Health Insurance Reform
Even with the insurance reform finally signed into law its effect on our health care is not known. By 2014 their will be an increase in the enrollment into health care insurance programs. This rise, when combined with the long term growing older of the citizenry, should push demand for services and therefore cost higher. However, no one yet knows what will happen to reimbursement rates from Medicare and this new program. The question is will there be rate a cut of reimbursement rates for different specializationsby Medicare and this new program that may conversely become a decreasing factor of the income of all specialtiesincluding Orthopaedics, its related specializations, and subspecializations.
Clearly the Obama administration has its hands full. We are getting older and there are less and less young physicians to take on this rising economic burden. The Sins of the Fathers...
