2024 Review of Physician and Advanced Practitioner Recruiting Incentives
Population Growth and Graying The longstanding factors that drive demand for doctors continue to be population growth and population aging:
• By 2036, the U.S. population is projected to grow by 8.4%, while the population aged 65 and older is projected to grow by 34.1% and the population 75 and older is projected to grow by 54.7%, according to the AAMC. People 65 and older visit physicians at three times the rate of younger people and account for a disproportionally large number of tests and procedures. • Physicians also are aging. Physicians aged 65 and older represent 20% of physicians in active patient care, while those 55 and older represent 42% of active physicians, according to the AAMC. A wave of physician retirements can be expected in the next decade which already is beginning to materialize due to both physician aging and physician burnout. As a result of these and related trends, the AAMC is supporting passage of the Resident Physician Shortage Reduction Act, bipartisan legislation that would increase the number of Medicare-backed residency positions by 14,000 over seven years. A number of states are promoting similar measures to increase the access their residents have to physicians.
of active physicians are 55 and older 42%
Opening the Door to IMGs and Non-Residency Matching Physicians Tennessee recently passed a law to become effective in July 2024 that will make it the first state to allow international medical graduates (IMGs) to practice in the U.S. without having to complete a U.S.-based residency training program. The Tennessee law comes on the heels of the Physician Workforce Act passed in Alabama last year, a state in which almost every county is a federally designated medically underserved area. The Alabama law removes a testing requirement for out- of-state physicians seeking to work in Alabama, allows IMGs to apply for a license a year earlier, and creates an apprenticeship program for medical residents who don’t match into a residency so they can begin training under a physician and apply their skills to patient care. Other states, such as Missouri, have created the position of Assistant Physician, which allows medical school graduates who did not match to a residency to work in patient care. An Illinois law to take effect on January 1, 2025 would allow IMGs without a U.S. residency to practice in the state provided they work in an underserved area. Florida, Virginia, Idaho and Wisconsin are considering similar legislation, underscoring continuing physician shortages around the country. More Types of Physician Employers, Limited Candidate Pool The difficulty many patients have accessing medical services has created an opportunity for organizations that have not traditionally been active in significant levels of physician and APP recruiting. These organizations are developing models of care intended to improve patient access and to enhance patient experience. All of them now actively recruit a growing number of physicians and APPs from a limited group of candidates. These entities include retail chains such as CVS/Aetna, Walgreens, and others, urgent care centers, telehealth platforms, insurance companies such as United Health/Optum, and private equity-owned medical groups. Traditional healthcare providers, such as acute care hospitals, hospital systems, and physician-owned medical groups, now are competing with a growing number of “market disruptors” in the recruitment of physicians and APPs.
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