The COVID-19 pandemic has affected the world in numerous ways, jobs in particular. Virtually every employment sector has been affected by this pandemic, including healthcare sector jobs such as radiology. The number of radiologist jobs has gone down highly. Find out why radiology jobs are anticipated to experience resurgence in demand once the pandemic ends.
Growth in new radiologist jobs after retirement resumes
Until there is a bounce back of the stock market, it can be expected that pending retirements will be postponed by senior radiologists. This can aid in tackling the existing shortage of radiologists in some communities. Once things go back to normal, the staffing will be required once more. Most communities would be recruiting once more when the volumes get back, so as to take care of the unsustainable work pace prior to the pandemic.
Because of a deficiency of volume, radiologists have been discharged by a few groups in order to reduce staffing costs. Once there is coming back of volume, those staffs will be needed again. It could be that most groups will start to hire again when there is a resurgence of patients, so as to tackle the unsustainable work pace prior to the pandemic. In the short term, Corporate radiology groups can derive benefits by recruiting those that they discharged.
Growth in revenues
In the Covid-19 economy, corporate practices got a huge hit and it was much tougher than private practices due to greater expenses and higher overhead with debt. Corporate entities are trying to compensate the shortages in revenues due to the pandemic with their venture capital. However, with venture capital being finite, the organizations will become answerable to shareholders. It is not clear what the future has in store for the corporate entities, but times are sure going to be tough over the long term.
However, at least a few radiology groups have been able to obtain loans and grants from the Paycheck Protection Program (PPP) and the U.S. Department of Health and Human Services, as well as other types of assistance. This will aid them in achieving stability all through the pandemic. When the ‘new normal’ gets back to previous normal, revenues are going to rebound. Radiology jobs are expected to be back in demand again then.
Regrowth in imaging volume
Private practice groups that stay put are likely to be more confident over the long term and go on drawing talented radiologists. With a return in demand for imaging volume, such groups will emerge strong. Thus, while volume grows, such groups are going to be lean for some time. Once the pandemic is over, there will be resurgence in radiologist jobs.
All in all, there is a demand for imaging in the global healthcare services industry. There is no way imaging will not be required as people are getting home-quarantined. After people get freedom from restrictions, radiology will again witness a regrowth of volumes. Diagnosis and treatment with the help of radiology will be necessary for many diseases, ailments and pathologies.