Part-Time Doctors Postpone Retirement?

Shrinking reimbursements and a lack of professional satisfaction are luring America's older physicians into retirement. According to a recent survey by the Association of American Medical Colleges, 30% of doctors over age 50 plan to retire in the next 10 years. By the time they reach age 65,

“Live neither in the past nor in the future, but let each day's work absorb your entire energies, and satisfy your widest ambition.”—William Osler, MD

Shrinking reimbursements and a lack of professional satisfaction are luring America's older physicians into retirement. According to a recent survey by the Association of American Medical Colleges, 30% of doctors over age 50 plan to retire in the next 10 years. By the time they reach age 65, seven out of 10 plan to quit medical practice. The survey also showed, however, that about half of these doctors would put off retirement if flexible schedules and part-time hours could lighten their work loads.

These findings gain significance in the face of a looming doctor shortage that postponing retirements could help ease. Healthcare experts predict that the United States will need from 85,000 to 200,000 more doctors than the current numbers in the medical education pipeline can produce. Based on these figures, the AAMC has called on medical schools to increase enrollment by 30% over the next decade and has asked Congress to boost funding for residency and fellowship positions by 15%.

58%Percentage of all US medical school applications that are rejected.(AAMC, 2007)