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How Millennial Doctors Are Transforming Medicine

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Navigating Transformative Forces in HealthcareHow Big Data Will Unlock the Potential of HealthcareHow Tech is Changing How Healthcare Must Communicate With PatientsThe Amazonification of HealthcareHow Artificial Intelligence is Transforming Clinical Trial RecruitmentPH6 - NotActivePH7 Active

Millennial Doctors

How Millennial Doctors Are Transforming Medicine

Changing healthcare models, groundbreaking advancements in the health technology sector, and shifting standards of patient care—they’re all contributing to a new era of medicine. But arguably one of the biggest changes will be the faces that greet us at a clinic or hospital.

Today’s infographic from Publicis Health illustrates the emerging generation of millennial doctors, and why they’re on the cusp of transforming the healthcare industry.

The Changing Face of Medicine

The doctor is in, but it’s probably not who you’re thinking of. Most people expect to see an older white male as their healthcare provider, yet today’s physicians are straying from this stereotype:

  • Increasingly diverse
    44% of U.S. medical school graduates in 2018 were of a racial minority background.
  • Millennial women
    61% of physicians under the age of 35 are females.
  • Digital-focused
    They’re adept at practicing medicine with digital tools, like electronic health records and telemedicine.

These younger doctors face intense financial pressure from student loans as they enter the workforce—an average of $190,000 to be precise—and it’s part of the reason that they’re more likely than their Gen X and Boomer counterparts to take jobs in hospital networks.

Shifting practices are also altering interactions between these new doctors and their patients. As patients increasingly behave like consumers, they have to keep pace with their demands for shared decision-making and higher personalization.

  • Millennial doctors spend over 8 hours a day on screens: 5 hours using
    electronic health records, and 3 hours more consulting external search websites.
  • 37% of them also rely on social networks and message boards for work, compared to 25% of their peers aged 55 and above.

The silver lining? These new doctors are digital natives first, which means they’re comfortable using tools to help them practice medicine more efficiently than their predecessors.

Bridging the Gap for Millennial Doctors

The new profile of healthcare providers are seeing the lines between their work settings and everyday lives being increasingly blurred. When they don their “white coat” persona, millennial doctors are aware that they’re always under the microscope.

  • 77% of patients rely on online reviews before choosing a physician
  • 80% of consumers trust online reviews alongside personal recommendations
  • 60% of consumers read four or more reviews before deciding on a doctor

As consumers themselves, millennial physicians are also constantly bombarded with content. They’re active on social media during their “blue jeans” moments, allowing them to engage with patients even in their downtime. This entirely new environment propels their healthcare decision-making in radical ways.

Credible channels, actionable data dashboards, personalized communication, and patient-centric tools all contribute towards the industry’s attempts to bridge this gap for millennial doctors and their patients—to reach them at the right place, at the right time.

Navigating Transformative Forces in HealthcareHow Big Data Will Unlock the Potential of HealthcareHow Tech is Changing How Healthcare Must Communicate With PatientsThe Amazonification of HealthcareHow Artificial Intelligence is Transforming Clinical Trial RecruitmentPH6 - NotActivePH7 Active

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Mining

Visualizing U.S. Money Supply vs. Precious Metal Production in the COVID-19 Era

Amid trillions in COVID-19 stimulus, this graphic compares new U.S. dollars printed to U.S. precious metal coin production.

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U.S. Precious Metal Coin Prduction

U.S. Precious Metal Coin Production in the COVID-19 Era

Gold and silver have played an important role in money throughout history. Unlike modern currencies, they can’t be created out of thin air and derive value from their scarcity.

In the COVID-19 era, this difference has become more prominent as countries print vast amounts of currency to support their suffering economies. This graphic from Texas Precious Metals highlights how the value of U.S. precious metal coin production compares to U.S. money creation.

Year to Date Production

In this infographic, we have calculated the value of money supply added as well as bullion minted, and divided it by the U.S. population to get total production per person. Here’s how the January-September 2020 data breaks down:

 Total (Ounces)Dollar ValueDollar Value Per Person
U.S. Gold Ounces826,000$1.6B$4.79
U.S. Silver Ounces22,261,500$544M$1.65
U.S. Money Supply$3.4T$10,250.16
U.S. Debt$3.8T$11,578.36

Gold and silver dollar values based on Oct 5, 2020 spot prices of $1,915.93 and $24.47 respectively.

The value of new U.S. money supply was more than 2,100 times higher than the value of new gold minted. Compared to minted silver, the value of new U.S. money supply was over 6,000 times higher.

Production Per Day, Per State Over Time

Here’s how production has changed on a per day, per state basis since 2010:

 20102020 YTD (Jan-Sep)Min-Max Production, 2010-2019 
Minted Gold Coins 78oz61oz12oz-78oz 
Minted Silver Coins 1,945oz1,631oz899oz-2,633oz 
U.S. Dollars$19M$255M$19M-$50M 

Year to date, U.S. precious metal coin production is within a normal historical range. If production were to continue at the current rate through December, gold would be above historical norms at 81 ounces and silver would be within the normal range at 2,175 ounces.

The issuance of U.S. dollars tells a different story. Over the last nine months, the U.S. has already added 400% more dollars to its money supply than it did in the entirety of 2019—and there’s still three months left to go in the year.

A Macroeconomic View

Of course, current economic conditions have been a catalyst for the ballooning money supply. In response to the COVID-19 pandemic, the U.S. government has issued over $3 trillion in fiscal stimulus. In turn, the U.S. Federal Reserve has increased the money supply by $3.4 trillion from January to September 2020.

U.S. Money Supply

Put another way, for every ounce of gold created in 2020 there has been $4 million U.S. dollars added to the money supply.

The question for those looking for safe haven investments is: which of these will ultimately hold their value better?

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Measuring the Emotional Impact of COVID-19 on the U.S. Population

This graphic visualizes the impact of COVID-19 on emotional distress levels by different demographic subgroups such as race, education, or sex.

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The Emotional Impact of COVID-19 on the U.S. Population

The COVID-19 pandemic has ripped through almost every country on the planet, causing devastating decay to the mental health of millions of people.

While most of us are experiencing higher levels of emotional distress than normal, the severity of stress may change based on factors such as age, race, education level, or even where you live.

This graphic uses data from the National Pandemic Emotional Impact Report to illustrate how each demographic subgroup in the U.S. is feeling.

The Methodology

The emotional upheaval of such a unique event impacts people in different ways, and is difficult to measure given the many direct and indirect factors associated with it.

For the report referenced in the graphic, researchers created a detailed methodology to measure the impact of COVID-19 across a sample of 1,500 adults. Surveys were conducted in May 2020, when the majority of people were under strict lockdown orders. Unemployment levels mirrored those seen only during the Great Depression, and of course, the death rate was rising quicker than anyone could have anticipated.

A Pandemic Distress Index Score (PDIS) was calculated based on participant’s responses, which were then divided into low (bottom 25%), moderate, and high (top 25%) quartiles of pandemic distress.

Emotional Distress Levels, by Demographic Group

Findings uncovered that almost 40% of participants have lost their jobs, or experienced a reduction in income due to the COVID-19 outbreak. However, the reverberations of such stressors vary by demographic subgroup.

Age

According to the report, pandemic-related emotional distress decreases by age group. People in the 18-34 year bracket reported the most pandemic-related distress overall—with respondents citing high stress at nearly double the rate of people over 50 years old. Meanwhile, respondents in the 65+ age group had reported the lowest distress scores of all.

Race

Of all ethnicities in the survey, Hispanics/Latinos and Blacks had the highest average Pandemic Distress Index Scores, and Whites had the lowest average scores.

It is also worth noting that the research concluded five days after the death of George Floyd, so the majority of responses may not include the influence of this event, and the subsequent movement against systematic racism.

Other Categories

In other subgroups, there were slight differences worth mentioning. For example, from a communities perspective, people who live in rural areas were less likely to experience high pandemic distress compared to people living in towns or cities.

When it comes to the battle of the sexes, men and women experience similar levels of distress. Moreover, the level of emotional distress related to COVID-19 did not differ much between people with children under 18 and those with older children. However, women with children under 18 reported more symptoms of anxiety compared to women with no minor children.

What Does the Data Mean?

While the research presents several important insights, understanding what it means is crucial in providing people with the support they need.

For example, participants with high pandemic-related distress are 40 times more likely to have clinically significant levels of anxiety and 20 times more likely to have clinically significant symptoms of depression, compared to those on the lower end of the spectrum.

impact of COVID-19 supplemental

In fact, a report from the Center for Disease Control and Prevention shows that 1 in 4 people in the 18-24 age bracket have seriously considered committing suicide at some point during the month of June 2020, which is in line with the emotional distress scores for this age group.

Building Immunity

While nobody can escape the devastating impacts of COVID-19 on mental health, it is clear that some people are more at risk than others.

Unfortunately, younger adults and people of racial and ethnic minorities have carried higher psychological burdens from the pandemic so far, and we have yet to see the long-term effects that could transpire as a result.

“Even when the pandemic is brought under control, grief, anxiety and depression will continue to affect people and communities.”

—António Guterres, United Nations

Although at times the pandemic may feel inescapable, we must continue to prioritize both our physical and mental health—so we can build immunity for what’s to come.

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