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Becoming a Physician

In: Business and Management

Submitted By thekid201
Words 2386
Pages 10
Becoming a Physician: Good Idea or Not?
By
Marcus Gulley

Economics 545
Aug. 1st, 2015

My niece, Jenny wants to know if becoming a doctor in the near future is something worth considering. On the surface becoming a physician was always a great and lucrative job, but is that still the case? The numbers from this particular article would say that might not be the case as physicians aren’t moving around as they once did. The people in the profession are scared to death so they are sticking with the stability in staying put other than moving around for greener pastures. Although job stability is a good thing to have, in the medical field is built for people to move around because it creates new jobs for the new doctors coming up. So there is a dilemma with becoming a doctor these days because the doctors are not moving and they are not in a rush to retire which is also blocking up and coming doctors. Considering the debt that is accrued during the time it takes to become a doctor and the amount of time it takes to become a doctor (10-14 years), not being able to find a job is very discouraging. With all that going on I’m going to show her that if she has a passion for this profession then she should definitely go for it.
Demand
Study results are suggesting that demand is growing a lot faster than supply. Demand for physicians continues to grow faster than supply, leading to a projected shortfall of between 46,100 and 90,400 physicians by 2025. Although physician supply is projected to increase modestly between 2013 and 2025, demand will grow more steeply (Exhibit ES-1). Across scenarios modeled, total physician demand is projected to grow by 86,700 to 133,200 (11-17%), with population growth and aging accounting for 112,100 (14%) in growth. By comparison, physician supply will likely increase by 66,700 (9%) if labor force participation patterns

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