From a decrease in burnout to the impact of the anesthesiologist shortage on the field, here are three pieces of good news and three pieces of bad news affecting the gastroenterology industry:
Good news
1. Zappix, a digital patient engagement solutions company, reported a significant reduction in no-shows and late cancellations from gastroenterology and endoscopy patients using its platform. These cancellations often lead to ripple effects on financial stability and operational efficiency for practices while decreasing patient access.
2. Gastroenterology was among the five highest-paid specialties in 2023, according to Medscape, rising by 10.6% between 2022 and 2023 from $453,000 in average annual pay to $501,000.
3. Gastroenterologist burnout declined 2% in the last year, with only half of gastroenterologists reporting they experienced burnout, compared to 52% of GI specialists in 2022, according to Medscape.
Bad news
1. GI-focused private equity activity faced a steep decline in 2023, with the number of deals going from 13 in 2022 to 26 in 2023, according to a Pitchbook report.
2. Gastroenterologists are facing low reimbursement rates, with specialists saying the rates negatively impact the financial stability of their practices as procedure demand continues to grow.
3. The shortage of anesthesiologists continues to affect the GI industry, with the Association of American Medical Colleges predicting a shortage of 12,500 anesthesiologists by 2033.