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It is a twister for everyone for how these physicians have gotten so important later, and most importantly, in the United States. There are a lot of issues revolving around this same issue, but the most critical cause would be the baby boomers.
Now, we do know that physicians are more of employers than owners. It has been this way for over the past ten years now. The US does need doctors right now, and there is a need for 95,900 physicians at the very moment. And again, the main cause is the baby boomers.
Baby Boomers were born between 1946 and 1964. They are currently between the age of 56 and 74. And 90% of them are going to be over 65 years of age by the year 2030. Now you must be wondering how they are the root cause of the shortage in physicians. Let me make it a little more in detail. There would not be a need for more physicians if not for the aging population of the USA. Aging is graceful, there is no doubt, but the need for physicians is because of their constant need for healthcare.
They are present in multiple settings, and their healthcare needs are immense. The crucial issue here is, there are not enough physicians in the USA to cater to their needs. That’s why often the case the B2B Healthcare Industry comes to the rescue. Beginning from old age care houses, individual homes, healthcare centers, the one prominent type of patients are the baby boomers. The estimation is in future 90% of them will be over the age of 65 by 2030 and will require more of healthcare support from physicians.
Though the growth rate of physicians right now is estimated to be 6% every year, which is above any other average profession in the United States, the growth is not proportional to the demand of the physicians.
Let us take an instance in this scenario. During the initial months of the pandemic, Italy was one of the most badly affected countries. Though they had enough doctors to serve the nation in the long run in terms of healthcare, they could not comply with the pandemic situation. That is exactly when Cuba, a smaller country in representation, had to send doctors to Italy to make up for the shortage and support them in fighting the crisis.
Not saying both the cases are the same, but taking into consideration the analogy in both cases. When there is a need, irrespective of the growth, meeting the demand is a struggle.
If there is a shortage of Physicians in the US, why are healthcare marketers and businesses still on the lookout to sell their products and services to physicians?
It is actually of no surprise. Yes, the Physician Mailing Lists is the most sold and many more marketing tools targeting physicians. It is because physicians hold a high hand in making decisions in the healthcare industry. Physicians have a strong purchasing power, which draws businesses to put their products and services on the table.
Physicians today make decisions on buying new medical equipment, devices, new drugs, treatment services, and much more. And there are 486,400 physicians in the United States alone. Businesses find these physicians to be the sole influencers of their products or services in the healthcare market. It also enables them to meet sales goals, as physicians hold one of the most robust buying powers in the healthcare industry.
The shortage of physicians in the USA will continue, but their importance will still be on the rise. The number of physicians, though increasing is still, lesser in terms of demand and requirements on the country.