5 numbers making chief medical officers nervous

Here are five recent numbers that have left chief medical officers wary:

1.25%: The percentage CMS is reducing physician pay in its finalized physician fee schedule for 2024. It also updated the conversion factor to $32.74, a 3.4% decrease over last year. 

124,000: The number of physicians the U.S. could be lacking by 2034, according to Physician Thrive's 2023 compensation report

53%: The number of physicians that reported experiencing burnout in 2023 in a survey by the AMA. Although this overall rate has declined from the all-time high seen in 2021, the troubling fact that a majority of physicians are feeling burned out remains.

15.5: The average number of hours physicians spend working on paperwork and administrative tasks every week, according to Medscape's "Physician Compensation Report" for 2023. In light of ongoing staffing shortages and increasing prior authorization burdens, this has been cited as something physicians dislike the most about their roles. 

52%: The percentage of registered nurses and nursing managers who reported lower rates of career satisfaction as a result of the COVID-19 pandemic in Mescape's "Nurse Career Satisfaction" report for 2023. Among other types of nurses, at least 4 out of 10 said the pandemic lowered their satisfaction in their role. 

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