Around 75 million Baby Boomers have recently retired or will soon at a rate of about 3 million per year. As these people reach their golden years, they will inevitably require more medical care. There are so many Baby Boomers they will change the balance of young and old people in America. By 2029, the number of 18 to 65 year-olds will drop from 63% of the population to 57%.
Alongside the rapidly aging population, which creates new demand for doctor services, is the rapidly aging population of doctors, many of whom are Baby Boomers and will themselves soon retire. That creates a supply problem. CBS New York writes:
By 2025 there could be a shortage of up to 35,000 primary care physicians. Koeppen says money plays a role.
“If you’re graduating from medical school with several hundred thousand dollars in debt, you may choose a sub-specialty where your earning potential is greater,” he said.
Still, Norman said she made the right choice about the kind of doctor she wants to be.
“If you’re able to control their pain, if you’re able to explain their risk factors when they’re afraid of inheriting something from family… It’s equally beautiful and rewarding,” she said.
Another reason for the looming doctor shortage is that as our population grows older, we are all going to need more health care. And most of that can and should be handled by primary care physicians, Dr. Max reported.
Read more here.
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- You Aren’t Getting These Yields from Your Bank Account - February 7, 2023
- What Your Survival Guy Invested in Today - February 6, 2023
- You Invest, They Win: FTX Edition - February 6, 2023
- Your Retirement Life: Adventure Awaits - February 3, 2023
- Early Advice from Her Dad on Tipping at Charlie Trotter’s - February 2, 2023