Money Money Money

[Drewdg04]

I noticed in the 2005 CRNA compensation and satisfaction survey thread that from 1999 to 2004 salaries jumped 46% (from 102,000 to around 149,000) My first question is why such a big jump (simply more surgery's, i've heard it could be the outpatient clinics...?) My second question is whether or not we can expect that big of jump in the next 5 years. If you do expect that big of increase again, when will it plateau? I know there's probably many factors that go into all these questions, but all the info helps. Thank you

[JenSICUCCRN]

I'm not a CRNA or a SRNA, but in the process of applying and such. I know in my area that the reason that salaries have increased so much is there is a shortage, and that there is a large amount of currently employed CRNA's that will be retiring soon, which will further increase the shortage. I can't speak of other areas, but this I know true about where I live and work.

Jenny

[MmacFN]

Hey

Im not a current CRNA just an SRNA. While im not an authority on the economics of anesthesia, i do know a fair bit about the economics of health care.

As with everything, "price" is driven by supply and demand. There is a clear shortage of anesthesia providers and a rapidly growing demand. The baby boomers are aging and surgery is becomming more common. Add to that the unreal boom in plastic surgery (ASC practices) based on how popular and accepted it is, i dont forsee the need changing.

As with nursing in general, if i remember correctly the average CRNA is between 45-50 yrs old. Retirement is not out of the question for many within the next 10 years. Also, add the generally favorable financial situation of most CRNAs in practice vs the weaker position of most RNs, and its obvious the CRNA could afford to retire earlier (if so desired).

As i understand it, MDAs are in a similar situation. The economics of residency programs are such that it often costs money to run them as opposed to make money. It seems there is a trend where MDA residency programs are staying about the same, graduate wise, not growing. This is totally opposite for CRNAs. Over the last 5 years there has been an explosion in CRNA schools opening which seems odd as not too long ago they were closing. I dont know the history about that.

AAs are a very small subset. The last numbers i saw was something like 770 of them in practice total and there are currently only 4 schools. In comparison 1200 (orso) CRNAs graduated last year alone. There seems to be some trend where AAs leave practice, many going back to med school some becomming CRNAs others leaving all togeather.

So, wasy adding suggests a massive need (only getting larger) and a short supply (soon getting shorter). As long as this is true, pay will rise or, at least, stay the same.

I would imagine this will not change in my lifetime and im 33.

[DebbieC]

That ABBA song is floating around my head now.........damn!!:hypnotized:

[TranMan]

When I was in school over 4 yrs ago I recall having a short lecture on trend of CRNA need/salaries. If I recall correctly, it has been following the business cycle of increasing and plateauing every 7 years or so.
As the need increases every 7 years, I would hopefully expect the salaries to do likewise.