SALT LAKE CITY, Aug. 01, 2017 (GLOBE NEWSWIRE) -- A new study from CompHealth, a national leader in healthcare staffing, reveals that late-career physicians are hesitant to retire because they will miss the work they do and the social dynamic that comes with their work environment. They are also less interested in retiring because they are confident they can still contribute to the medical field.
Doctors stay in the workforce five years longer than the average American, retiring at 68 rather than the average retirement age of 63. According to the survey, the three most common reasons for physicians to prolong their time in the workforce are:
However, 38 percent of physicians are concerned about staying competitive in a changing healthcare environment beyond traditional retirement age.
“More than one-third of physicians are reaching retirement age, which could lead to a significant physician shortage in the United States,” said Lisa Grabl, president at CompHealth. “However, our survey found that many of these late-career physicians are extremely satisfied with their positions and don’t want to leave, and many are open to remaining in medicine, in some form or another, after retirement. Keeping these physicians engaged and active in the workforce could mitigate a future physician shortage.”
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The survey found that when it comes to concerns about retiring, physicians worry most about their social interactions at work. This tops the list of greatest retirement concern for respondents, followed by loss of purpose, boredom, loneliness or depression. Concern about caring for patients was at the bottom of the list.
Additional insights from the survey include:
The study was conducted by Hanover Research on behalf of CompHealth surveying more than 400 late-career physicians age 50 and older in various specialties, including psychiatry, emergency medicine, OBGYN, surgery and primary care.
The full report can be viewed here.
About CompHealth
Founded in 1979, CompHealth is a national leader in healthcare staffing, serving providers in more than 100 specialties. CompHealth is the largest locum tenens staffing agency in the U.S. and also specializes in permanent physician placement and both temporary and permanent allied healthcare staffing. CompHealth is part of the CHG Healthcare Services family of companies, which is ranked No. 18 on FORTUNE magazine's list of "100 Best Companies to Work For." For more information, visit www.comphealth.com.
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