Sunday, May 20, 2012

Top Three Reasons the Radiography Job Market will Bounce Back

Top 3 Reasons the Radiography Job Market will Bounce Back

It’s no secret that being a Radiologic Technologist has been difficult in many parts of the country due to fewer available positions.  Everyone is bracing for the impact of health care reform and cuts in Medicare reimbursement, which will soon be awarded by the Government at a percentage based on patient satisfaction.  For the first time in history, the labor budget will be forced to depend on good service.  These issues have caused many hospitals to initiate patient satisfaction campaigns, and to start cutting budgets.  With the number one expense for any health care institution being labor, the jobs just aren’t plentiful right now.  I address in more detail in my book Becoming a Radiologic Technologist, this should change dramatically within the next 3-5 years:

As I have explained in a prior post (see related posts below), the Baby Boomer generation makes up the largest percentage of the work force in the United States.  As of 2011, they have begun entering the retirement age range.  We have seen a delay in this due to problems with conventional retirement savings plans being affected by the current depression in the economy.  People simply just can’t afford to retire yet, no matter how much they want to.  Eventually, the market pendulum will swing the opposite direction as it has consistently done for many decades.

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As the largest population in our work force retires, it will create two needs.  The first need I will deem the Characteristic Effect on Employment (if you’re a student and haven’t studied this yet, it will make sense soon).  First, as the Boomers retire, their current roles will need to be filled with experienced up-and-coming professionals (ejection of the k-shell electron).  I anticipate a lot of these positions to be at the supervisory or managerial level (close to the nucleus – a lot of binding energy) due to the amount of time they have spent in the work force.  The vacancies created by people filling the Boomers’ jobs will need to be filled by new grads and current employees with a few years of experience (filling of the k-shell by valence electrons).  Second, our patient population will increase.  As the percentage of employees drops, the percentage of in patients in hospitals will rise, creating a demand for nurses and allied health professionals to care for them.

Due to the high cost of keeping patients in hospitals, expect to see more ambulatory care options rising up.  
For us Radiographers, outpatient imaging centers and urgent care centers will be hiring left and right.  It costs a lot more money in labor and supplies to keep someone in the hospital for a series of tests than to have them performed as outpatient exams, requiring only the labor cost of the person performing the procedure for the amount of time the procedure takes.  It would be good business for health care institutions to invest in more outpatient facilities to handle patient procedures that do not really need to be performed as an inpatient in a hospital.  This should also help with the over-use of the Emergency Room that is widely experienced across the country fueled by one reason: convenience. 

I know it has been tough out there, and I completely understand that getting a job today can be tough, but I truly believe we are on the cusp of change.  The Bureau of Labor Statistics has predicted a 28% growth in our fieldbetween 2010 and 2020, but what they could predict is the state of the economy.  The data for their predictions have not changed, but the timing has.  It will get better soon.

Photo downloaded from http://www.freedigitalphotos.net/ 

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