On Demand: The Evolving Cardiology Workforce Redefining FTEs-Presentation Slides

Presentation Slides

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The document from MedAxiom discusses the current landscape and future challenges facing the cardiology workforce in the United States, focusing on the evolving roles and the considerations necessary for hiring new physicians. A notable concern is that 25% of cardiologists are over the age of 61, which suggests impending retirements that could lead to a reduced workforce. The data highlights an estimated annual loss of 1,600 Full-Time Equivalents (FTEs) due to retirements, contrasted with a net annual workforce impact of negative 444 positions, indicating a shortfall in replacing outgoing cardiologists with new entrants.<br /><br />The document conveys the challenges in recruitment, exacerbated by the increasing number of cardiologists reaching retirement age and the insufficient number of fellows entering the workforce. Currently, U.S. cardiology fellowships have 3,282 active fellows with only 1,156 entering the workforce each year, which is not enough to keep pace with retirements, creating a deficit.<br /><br />It also explores generational differences impacting workplace dynamics, comparing Millennials (born 1981-1996) and Boomers (born 1946-1964). Millennials are often characterized by valuing work-life balance, technological adeptness, and liberal views, while Boomers are known for their strong work ethic, traditional values, and cautiousness toward technology.<br /><br />Overall, the document underscores the impending challenges in maintaining a robust cardiology workforce and the need for strategic approaches to recruitment and training. It encourages ongoing conversation and involvement in addressing these workforce issues, highlighting the importance of adjusting to generational shifts and evolving workplace expectations.

Keywords

cardiology workforce

physician recruitment

retirement impact

generational differences

workforce deficit

U.S. cardiology fellows

workplace dynamics

strategic recruitment

generational shifts

work-life balance