Is Nursing Really Recession-Proof?
Why Nursing Isn’t Recession-Proof
Although healthcare is hiring, but there are some reasons healthcare might not beat the recession:
• Patients are cutting back on elective surgery. Considering a face-lift this year? Probably not. Patients aren’t getting as much plastic surgery as in past years because it’s almost never covered by insurance. Individuals are also cutting back on treatments that may help them in the long run, but don’t seem necessary right now – like knee replacements.
• Pharmaceuticals are no longer a safe harbor. It seemed like pharmaceutical companies would be able to weather the storm. Their stocks took the smallest hits and continued to develop new products. However, when pharma giants like Merck and AstroZeneca began laying people off, stocks dropped and healthcare began to feel the pinch.
• Median hospital profits are at zero. More than half of the hospitals in the US are losing money, which means there is the potential for lay-offs.