Read the news:
“Housing Market Recovering”
“Gains on Wall Street”
“Affordable Care Act Uncertainty”
These three headlines explain why Michigan could be facing an increase in physician turnover. An American Medical Association report found that physician turnover in 2012 was at 6.8%, the highest rate in the eight-year history of the survey.
Improving stock market returns and a return to a “normal” housing market after the real estate crash of 2009 means many physicians now have additional financial security to make a career move – or start more seriously to contemplate retirement.
Uncertainty about what implementation of the Affordable Care Act may also contribute to additional change, as physicians continue to look towards health system employment as a less risky alternative to individual practice.
In Michigan, this could mean continued acceleration of change in the physician workforce. The 2012 Michigan Center for Nursing’s survey of nurses found the first increase in the number of younger nurses entering the profession, as more seasoned nurses were able to retire or cut back on hours.
Michigan’s primary care workforce could see particularly high turnover. A 2011 survey of physicians found more than one in four primary care physicians were older than 60. Most importantly, a recent Bridge Magazine report highlighted the increasing value of property in Michigan, allowing more people to feel financially secure enough to move towards retirement.
The Michigan Health Council is committed to helping Michigan’s communities address potential shortages of health care providers through expanding the capacity to educate new professionals, improve provider recruitment efforts, and expand the use of team-based care to increase the efficiency of health care delivery.