Surviving the Physician Shortage

SURVIVING THE PHYSICIAN SHORTAGE CHANCES ARE YOUR ORGANIZATION HAS ALREADY FELT THE EFFECTS OF THE PHYSICIAN SHORTAGE-AND IF IT HASN'T, IT WILL. PROJECTED SUPPLY AND DEMAND, PHYSICIAN PHYSICIANS, 2010-2025 (ALL SPECIALTIES) 900,000 SHORTAGE 800,000 2020 -90,000 700,000 2010 2015 2025 SUPPLY DEMAND 2025 -130,000 As demand for the limited supply of physicians increases, hospitals, medical practices, and other healthcare organizations will find it increasingly difficult to recruit and retain quality physicians-which can negatively impact quality of care, work-life balance for existing staff, capacity, and, ultimately, the bottom line. SHRINKING SUPPLY, GROWING DEMAND The existing physician workforce is shrinking 1 of 3practicing physicians in 6 in 10 physicians say it is likely many physicians will retire earlier than the United States is over the age of 55 and many of them are expected to retire in the next 10 or 15 years 2 planned in the next one to three years 3 At the same time, the patient population is aging By age 65, around 2/3 of all seniors 20% More than 10,000 of those older than 65 have 5 or more have at least one chronic disease and Americans turn chronic diseases, see 14 physicians and average 40 doctor visits a year 5 65 every day? see seven physicians 5 Further adding to the demand for doctors is the growing number of insured Americans who are going to enter the system via the Affordable Care Act (ACA). 11 million By 2022, the ACA will have extended coverage to previously uninsured 33 MILLION AMERICANS Americans are projected to obtain insurance in 2014 alone 6 who would otherwise be uninsured 7 REINFORCEMENTS AREN'T Medical Dictionary COMING FAST ENOUGH The educational community is doing its best to replace the departing physicians by increasing enrollment and graduating more students. However, the number of new doctors is limited by the number of Medicare-sponsored residency slots that are available for graduating medical students. U.S. medical schools are on track to increase their enrollment Number of Medicare sponsored residency slots has been capped NO since 19978 1 30% U.S. medical school graduates may exceed the number of available residency slots by as soon as 2015 9 VACANCY by 20178 In light of these facts, it is easy to see why the AAMC projects a shortage for the forseeable future. Any one of these factors (decreased physician workforce, an aging patient population, an increase in insured patients, limits on the number new physicians) by itself would create a shortage-but the combination of them all has made it full-blown a crisis. FEELING THE EFFECTS Physicians are revenue generators for healthcare organization. The care they provide translates into billable services that make up the organization's revenue stream. Physician-Generated Revenue Specialty Emergency Medicine Cardiology (Non-Inv) Cardiology (Invasive) Family Practice Gastroenterology General Surgery Revenue ($) 2,057,875 1,232,142 2,169,643 2,067,567 1,385,714 1,860,655 1,761,029 2,147,944 Hem/Onc Hospitalist Internal Medicine 1,843,137 691,406 Neurology Nerosurgery The average 1,684,523 1,439,024 2,683,510 physician OB/GYN generates $1.4 million Orthopedic Surgery Otolaryngology Pediatrics 825,757 in revenue for a healthcare 787,790 Psychiatry Pulmonology Urology 1,302,631 organization 10 1,009,868 1,428,030 Physicians are being asked to do more in light of the shortage, which can lead to burnout as well as poor outcomes. of hospitalists reported exceeding safe workload at least of hospitalist said large workloads likely contribute to patient transfers, morbidity, or even mortality11 40% 20% once a month 11 With Medicare's continued move towards a pay-for-performance model, poor quality can further erode an organization's bottom line. GETTING FLEXIBLE Healthcare organizations can't afford to wait for their next permanent physician. With a shrinking pool of potential physician employees, the recruiting process can take up to a year or longer for some organizations. Locum tenens physicians and nurse practitioners are an effective staffing solution for short-staffed organizations. Services provided by locum tenens providers are billable, and can keep your organization's revenue streams open while you search for a permanent employee. In 2012 of healthcare organizations used locum tenens of healthcare organizations use locum tenens providers to maintain services while they seek to fill open permanent positions13 74% 57% providers to supplement their existing staff13 In fact, many healthcare organizations rely on locum tenens providers on an ongoing basis to maximize capacity, quality, and continuity of care, and revenue generation. 13 Locum tenens of healthcare organizations used one or more locum assignments can range from a few shifts to 56% tenens physicians in a typical month 13 ongoing engagements that last over a year 13 The advantage of using locum tenens providers through Barton Associates • Access to high quality physicians and nurse practitioners Improved quality and continuity of care for patients Increased capacity to see patients and generate revenue A happier, less burdened permanent workforce • 'A' rated medical malpractice insurance included Industry-leading support and quick turnaround times • The flexibility needed to thrive! BARTON ASSOCIATES THE LOCUM TENENS EXPERTS Learn More at www.bartonassociates.com Resources: 1. AAMC - https://www.aamc.org/advocacy/campaigns_and_coalitions/fixdocshortage/ 2. HealthLeaders Media - http://www.healthleadersmedia.com/content/MAG-92871/Will-There-Be-Enough-Doctors## 3. Deloitte 2013 Survey of U.S. Physicians http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_chs_2013SurveyofUSPhysicians_031813.pdf 4. Pew Research Center - http://www.pewresearch.org/daily-number/baby-boomers-retire/ 5. AMA - http://www.amednews.com/article/20100920/opinion/309209958/5/ 6. CBO - http://www.cbo.gov/sites/default/files/cbofiles/attachments/44190_EffectsAffordableCareActHealthlnsuranceCoverage_2.pdf 7. CBO - http://cbo.gov/sites/default/files/cbofiles/attachments/03-15-ACA_and_Insurance_2.pdf 8. AMA - savegme.org 9. AAMC - https://www.aamc.org/newsroom/newsreleases/335244/050213.html 10. Merrit Hawkins 2013 Physician Inpatient/ Outpatient Revenue Survey http://www.merritthawkins.com/uploadedFiles/MerrittHawkins/Pdf/mha2013revenuesurveyPDF.pdf 11. JAMA Internal Medicine - http://archinte.jamanetwork.com/article.aspx?articleid-1566604 12. CMS Hospital Value-Based Purchasing Program http://www.cms.gov/Medicare/Quality-Initiatives-Patient-Assessment-Instruments/HospitalQualitylnits/index.html?redirect=/hospitalqualityinits/ 13. 2013 Survey of Temporary Staffing Trends http://www.staffcare.com/uploadedFiles/StaffCare/Files/2013_Temp_Physic_Staffing_Trends_Spreads(FINAL).pdf %24 HRALALILANGYA