Many nurses and physicians are among the baby boomers who will start to retire in the next three to five years. The federal government is predicting that by 2020, nurse and physician retirements will contribute to a shortage of approximately 24,000 doctors and nearly 1 million nurses. While hospital leaders voice much of the concern over possible shortages, the implications extend throughout the labor-intensive, trillion-dollar United States health system. It’s expensive to educate new nurses and doctors. Taxpayer-funded Medicare spends $8 billion a year for residency training of physicians alone.
While the US has more physicians and nurses today than ever before, they are not distributed or deployed efficiently. Shortage projections tend to be built around today’s often dysfunctional system, which makes them problematic. However, while future shortages are certainly worrisome, the bigger issue for health industry leaders today lies in orchestrating care in an increasingly complex and converging healthcare labor market. Shortages, or even talk of shortages, can manipulate markets, creating problems for health industry executives who face the daily issues of recruiting and retaining the best talent. Yet because shortages have also been cyclical, short-term solutions have won out over long-term changes.
Seeking solutions means understanding that while the challenges confronting nurse and physician shortages are very different, their roles and futures are starting to converge. Healthcare is a team sport: a dozen or more types of physicians and nurses can be involved in a single patient’s care, and the need for coordination and planning becomes more imperative and complex. It’s not a matter of determining the mix of nurses and doctors to deliver efficient and effective care. Executives today must consider what kinds of nurses and doctors are needed, what tasks these clinicians are best educated to deliver, and how technology and lower-skilled workers can be used to supplement or replace them.
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