Demand and Supply within the Healthcare Workforce

The healthcare industry is a rapidly expanding sector of the American economy. This is due to the increasing number of patients and the necessity for a significant number of skilled and experienced physicians and other professionals. The healthcare business has used several techniques to stay up with the changing expectations in order to meet the rising demand for healthcare. Nonetheless, numerous obstacles remain. The repurposing of human assets, the consumption of scarce healthcare supplies, and the influence of physicians and healthcare professionals are among these obstacles.

Strengthening the Healthcare Workforce is a report published by the American Hospital Association (AHA) that examines the current situation of the healthcare workforce and makes recommendations for future workforce growth and sustainability. The report is the product of a board-appointed task team tasked with ensuring a future supply of required healthcare professionals. In addition, case studies, tools, and long-term solutions for addressing the challenges facing the healthcare workforce are included.

In addition to addressing the current requirements of the healthcare profession, the AHA report asks for supporting the mental and physical health of healthcare workers as they cope with an evolving patient population. To do this, the organization suggests training employees on mental health awareness and eradicating stigmas around behavioural healthcare.

Other suggestions include fostering a culture that prioritizes mission-driven values, which can increase employee satisfaction. In addition to addressing burnout system-wide, leaders should prioritize accountability and physical and mental safety for both patients and employees.

The American economy relies heavily on the healthcare workforce. Its unavailability can affect access to care and result in the loss of essential services. Therefore, it is essential to address the issue and identify appropriate solutions to guarantee that patients receive quality care.

Physicians are crucial to the provision of primary health care. In addition, their existence is associated with improved health outcomes, such as longer life expectancy, fewer deaths from cardiovascular disease, and reduced overall mortality.

When analyzing supply and demand in the medical field, there are numerous elements to consider. This includes the aging population, the rising demand for specialized care, and innovations in "state-of-the-art" care delivery.

According to a report by Mercer, there will be a shortage of 29,000 nurse practitioners by 2025. In addition, the School of Health Sciences at the University of Texas M.D. Anderson Cancer Center reports that there is a deficit of allied health workers.

The pandemic of COVID-19 has had a significant influence on the supply and demand of healthcare professionals. During the pandemic, a number of health industry sectors witnessed a precipitous decline in employment. However, the figures have rebounded. In July 2020, there were 95% fewer jobs in the health business than before the pandemic.

Utilization of health services was also lower than anticipated. Despite this, it is estimated that the overall annual cost of missing wages is $200 billion.

Since the epidemic, the unemployment rate among healthcare professionals has increased. Black, Latino, and American Indian groups have the highest unemployment rate.

A considerable number of employees are quitting their jobs, particularly outside of the healthcare industry. Since the epidemic, this pattern has continued, and the media has focused on the rise in job resignations.

Particularly since the COVID-19 epidemic, the lack of medical supplies has become a global issue of grave concern. A significant epidemic in Lombardy, Italy, allowed the illness to spread throughout the world's manufacturers, affecting the global healthcare supply chain and limiting transportation networks. Many hospitals and nurses were unable to leave their homes as they awaited the resumption of career possibilities, while others travelled to locations with a staffing shortage. This caused a significant demand shock in the healthcare sector.

It is crucial to be adaptable, clear, and dynamic when formulating recommendations for the utilization of scarce healthcare supplies. These three aspects will aid in ensuring that the guidelines are effective and easily identifiable by patients, healthcare practitioners, and healthcare organizations. In addition, it is crucial to establish criteria that can be utilized to match future use rates with anticipated supply availability.