I tried entering the healthcare industry awhile back and hated every minute of it because my parents “suggested” that I try it out, and one of the things that they pointed out about the industry is that it’s suffering a personnel crisis like it is with the oil industry. However, the big picture issue I’m getting with professionals working in this industry is that it’s heavily regulated by the government since many patients are covered by medicare and pay medical personnel based on checkboxing certain medical conditions they’re assigned to take care of. The training programs are also stupid because you’re forced to follow things by the book, but in the real world the stuff you’re taught completely contradicts everything the books say due to budget cuts, especially if you’re a nurse.
I guess the other thing it’s also suffering from is the fact that it’s a “hip” profession. I know my family wanted me to do it because it was a prestigious job, even though they downplayed that a lot to me because they knew I didn’t care for that and only wanted to do it for the money which didn’t work out in the end because I really felt like I was wasting my time spending every waking hour learning as much as I can about a profession I have no real care for. I’m curious if you had any insight in how the healthcare industry is going to play out in the next decade or so compared to the oil industry. I know you mentioned in the past that not everyone’s going to get their retirement money from the government because they were expecting everyone to die before they were old enough to collect it, and the best way to avoid this fate was to have some solid financial education.
I wouldn’t compare the US oil industry and the US healthcare industry. The US oil industry is suffering problems finding skilled workers including engineers because 1) it is growing very fast in the US and 2) there were not many engineers or workers hired during the oil slump in the 1980s. So you have many people who are 50 and then a generational gap and there are 30 year olds. In ten years, those 50 year olds are going to retire and that generational gap becomes a problem. It is currently assumed that the oil and gas industry will not be able to get enough workers for their ambitious US projects.
Another significant difference is the acceptable rate of error. Weapons engineers and medical doctors are not allowed to make errors. The liability for doctors is insane. It is why so many of them come to Texas because of the much better liability environment in this state compared to other states.
The healthcare industry was considered a good one to get into because the wages are high (nurses get paid very well) but also due to considerable growth with the aging Baby Boomers. I have no idea how the health care industry works, but I would imagine that Obamacare is wreaking havoc on it. I can’t imagine the healthcare workers being able to hold on to their high salaries too much longer with all the budget cuts.
If I got into the healthcare industry, it would be in one of the areas such as Guam. Many American companies set up little companies there that don’t have to play the rules of US regulations. Therefore, people with options will fly down there, stay at a sort of tropical resort, get their medical treatment, and then fly back.
“What does this have to do with the hardcore?” you ask. Silly reader! As you should have learned by now, the hardcore must be destroyed!