The Coming Healthcare Worker Shortage in the US


Posted originally on Mar 4, 2024 By Martin Armstrong 

Those outside the US believe we have outstanding health care due to the high price tag associated with every service. Healthcare workers have been leaving the field in droves since the COVID-19 pandemic. The American Association of Medical Colleges believes that there will be a shortage of 122,000 physicians, 400,000 home health aides, and 29,400 nurse practitioners by 2025, but that may be an optimistic forecast.

A friend of mine in the area recently needed stitches after an injury and their nearest Urgent Care facility was closed. The second Urgent Care (America’s version of a smaller hospital) had a sign saying that it would not open until late afternoon due to a staffing shortage. The third Urgent Care facility was closed over the weekend, also likely due to staffing shortages. By the time she found the fourth provider, the wait was multiple hours due to only one physician being on staff that day.

StaffingIssues

These essential care employees are overworked and exhausted. People are less likely to take on hundreds of thousands in student loan debt for a grueling job that they must carefully keep by avoiding litigation while watching patients suffer due to high costs passed down from insurance and drug companies.

Healthcare providers are being replaced through AI programs while others are going remote. Amid hospital closures in small towns, remote nurses and doctors are entering hospital rooms on screen. This means hospital administration can hire fewer people and ask the less experienced employees who cost less to retain to perform crucial functions. The virtual nurse or doctor will not be able to help if the patient codes or something goes wrong.

Nursing job vacancies spiked by 30% from 2019 to 2020 as a direct result of COVID regulations and working conditions. A 2021 Washington Post-Kaiser Family Foundation poll showed that another 30% of healthcare workers considered leaving their profession in general after the pandemic, while 60% said the pandemic negatively affected their mental health. These people were also required to receive the vaccine against their will and promote treatments for the virus that may not have aligned with what they believed to be the best treatments. Estimates vary, but every agency agrees that there will be a serious shortage in the near future. The American Hospital Association believes there will be a shortage of 3.2 million healthcare workers by 2026.

The largest portion of our population is aging and will require health care in the near future. Not many can afford the costs of becoming ill, and sickness remains the leading cause of bankruptcy in the world’s financial capital. An aging population paired with overwhelming staffing shortages will lead to serious trouble in America’s healthcare system in the short term, not to mention the additional 7.2 million and counting new illegal residents who are receiving free health services at the cost of the taxpayer.

Credit Scores on Medical Debt


Armstrong Economics Blog/Disease Re-Posted Sep 25, 2023 by Martin Armstrong

It is a common misconception that unpaid medical bills will not hurt your credit score. Medical debt is the leading cause of bankruptcy in the United States. Health care costs are unsustainable and a short hospital stay could easily ruin the most fiscally conservative person’s finances. The Consumer Financial Protection Bureau (CFPB) is now considering removing medical debt and collections from credit reports.

It is a step in the right direction, but it avoids the real issue of health care costs and allowing Big Pharma, insurance agencies, and hospitals rob the sick. The pricing is so unclear that many hesitate to get care until they’re very ill. Americans know it is common practice to ask for an itemized medical bill and bargain with hospitals for months on end. Over 100 million A report from the CFPB found that 20% of all Americans – 66 million people – are in medical debt.

“Research shows that medical bills have little predictive value in credit decisions, yet tens of millions of American households are dealing with medical debt on their credit reports,” CFPB Director Rohit Chopra said in a statement. “When someone gets sick, they should be able to focus on getting better, rather than fighting debt collectors trying to extort them into paying bills they may not even owe.”

We all know families struggling to pay medical bills. I had a friend whose young daughter fell ill. He managed to accumulate well over $1,000,000 in medical debt in just a few months. The debt uprooted his family’s lives on top of dealing with a sick child, and they were forced to sell their home. Should they be forced to pay a higher mortgage on a smaller home because of their lowered credit score? The medical debt does not indicate in any way that he is financially irresponsible or unworthy of a loan.

Medical debt should not affect a person’s credit score. Credit scores in and of themselves are a topic for another day. Unlike student or credit card debt, people do not choose to take on this debt and are largely unaware of the costs until the final insurance bill comes in. This could be one small step in the right direction, but ultimately, the medical industry must be prevented from robbing the sick.

Died Suddenly


Armstrong Economics Blog/Vaccine Re-Posted Nov 24, 2022 by Martin Armstrong

The question is why are those in government acting so recklessly? They need money that bad?