In 2020, AMN Healthcare saw a 30 percent year-over-year decrease in physician and advanced practitioner search engagements, according to a new AMN report released July 24.
However, demand is back up in 2023 as physician and advanced practitioner supply and demand trends are being driven by seven key factors:
1. Population growth: The U.S. population is expected to increase by nearly 100 million by 2050.
2. Population aging: By 2034, there will be more individuals in the U.S. who are older than 65 than children younger than 17 for the first time.
3. Provider aging: About 30 percent of physicians in active patient care are over 60, meaning a "retirement cliff" is on the horizon.
4. Provider burnout: COVID-19 drove mass physician burnout, turnover and increased job vacancies.
5. Pervasive ill health: Six in 10 U.S. adults have a chronic medical condition such as diabetes or lung disease. About 4 in 10 have two or more chronic medical conditions.
6. Pipeline problems: Federal funding for physician training was capped in 1997 and has been limited since.
7. Practice styles: Physicians are increasingly adopting different practice styles, including part-time, locum tenens, employment and nonclinical roles.