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Why Is Nursing Such A Lucrative Career?
Why Is Nursing Such A Lucrative Career?
Over the past few years, a number of changes have occurred in the medical profession as well as in the social structure in the United States. These changes have important implications for the health care profession in general and nursing in particular and together they work to make nursing one of the fastest-growing and most lucrative careers in the United States.
Predicted Strong Growth in the Nursing Profession
Nursing is currently the largest health care profession in the United States and registered nurses currently outnumber physicians in the country by a factor of about four to one. Not only do the nation’s 2.9 million nurses work in hospitals, they are also employed by medical agencies, clinics, private practices, and other health care giving organizations. Despite the large number of nurses already active in the field, the Bureau of Labor Statistics (BLS) has predicted that nursing will continue to be one of the highest growing occupations in health care. According to statistics provided by the BLS, over the next ten years, demand for nurses will increase by up to about 35 percent.
Increasing Demand for Health Care Services
Due to advances in medical technologies, our population is living longer than ever before in human history. The Baby Boomers are now reaching their 60s and 70s and are requiring increased medical attention and health care. The U.S. Government Accountability Office predicts a 100 percent increase in the senior citizen population over the next three decades. This means an increased requirement for nurses and other health care professionals.
Expected Shortage of Nurses
The American Association of Colleges of Nursing predicts that 55 percent of currently employment will reach retirement ages within the next decade, resulting in thousands of vacancies. At the same time, it is predicted that not enough individuals will enroll in nursing school in order to meet this shortage. In fact, the U.S. Health Resources and Services Administration has estimated that in order to fulfill this demand, enrollment will need to increase by up to 90 percent from current levels.
Increased Government Support
To encourage more individuals towards the nursing profession, the US Government enacting the Nurse Reinvestment Act in 2002, to support nurse career development and better dissemination of specialized knowledge. This act is monitored by The National Advisory Council on Nurse Education and Practice (NACNEP) which also endeavors to improve work environments for nurses and encourage and support them in furthering their education to make them more employable.
