Census, 30 percent of physicians are 60 or older, up from 26 percent in And the average age of active licensed doctors is In a survey of physicians age 50 and older by healthcare staffing firm CompHealth, respondents, on average, said they intend to retire at age By comparison, the average retirement age for all Americans is Keimig, who has been with Henry Ford Health System his entire career, says the support of its administrative and medical staffs has made it easier for him to keep practicing by allowing him to focus on providing medical care rather than performing ancillary tasks.
Cardiologist David Mokotoff, MD, says his decision to retire in at age 67 provoked something of an identity crisis. Being a physician was at the core of who he was and he worried how he would feel without the work and the status that accompanied it. On the other hand, he says, he wanted to retire while he was still healthy and able to enjoy physical activities.
No one has a crystal ball. Three years into retirement, the Florida resident is an avid fisherman and has become a tai chi instructor. He also blogs. This is not due to a gap in older physicians in the workforce, but more to do with a tendency for ER physicians to retire early or switch to another type of medicine in their later years, owing to burnout. The demands of the ER physicians report higher levels of job stress and burnout compared to the other professions , thanks in part to the demands of the job, the fast pace required to handle the working duties, and the amount of on-call time the job requires.
This can lead to excess stress not only for the physicians themselves, who have invested considerable time and money into their career, but also for the remaining ER doctors, who now face strain due to understaffing. So while they might be lowering the average retirement age, emergency physicians have plenty of opportunities for even more flexibility in their later years than other physicians.
Since they are also mainly employed by hospitals, ER physicians are more likely to have access to employer provided benefits or retirement contribution matching programs, which could help to prepare them financially for retirement. Are you going to be okay with leaving your profession and your patients? Do you have the right steps in place to sell your stake in your physician owned practice, or a pension to retire on? No matter what kind of doctor you are, your answers to these questions will be specific to you — so think carefully, do some groundwork, and start planning your perfect future!
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed.
All expressions of opinion reflect the judgment of the author s as of the date of publication and are subject to change. The ACS recommends that surgeons undergo a voluntary and confidential baseline physical examination and visual testing by their personal physician for overall health assessment. Regular interval reevaluation thereafter is prudent for those without identifiable issues on the index examination. The ACS also encourages surgeons to voluntarily assess their neurocognitive function using confidential online tools.
Chole also believes that older surgeons should undergo regular periodic testing of their cognitive and physical abilities. To his knowledge, such programs have only been implemented at two institutions, Sinai Hospital in Baltimore and Stanford Health. Harold C. Daspit said. Colleagues and coworkers are a valuable resource for identifying surgeons who display initial signs of professional deterioration, the ACS says.
Noting his belief that mandatory assessments should begin at age 70, Dr. Financial stability and the role of professional fulfillment in maintaining cognitive abilities also should be considered, Ullman said. Nevertheless, the issue of the aging surgeon is an important and necessary conversation to have. Rapp and Casey Tingle. Babu MA, et al. Mayo Clin Proc. Olsen KD. Garland, MD, can be reached at Shoreline Dr. Rapp, MD, can be reached at Forest Blvd.
Babu, Garland and Ullman report no relevant financial disclosures. Rapp reports he was founder of the Sofamor Danek division of Medtronic. Healio News Orthopedics Business of Orthopedics. Read next. March 20, Receive an email when new articles are posted on. Please provide your email address to receive an email when new articles are posted on. You've successfully added to your alerts.
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