The Missouri State Medical Association (MSMA) recently discussed how and why physicians should advocate directly to their local legislators. During the event, a representative of its political action committee warned if there aren’t more congresspeople with medical backgrounds or if more support isn’t given to healthcare-friendly politicians, we may not have physicians of any medical specialty in the future.

While that idea is extreme, it effectively calls attention to how important policy is to the future of healthcare. Technology, salary potential, job satisfaction and patient demand will also significantly impact the healthcare industry, particularly in the area of which medical specialty has the best future.

Which medical specialty has the best future?

Physician compensation does not necessarily coincide with growth potential, as any geriatrician and primary care provider can attest. Instead, the top medical specialties salary reports for 2024 reveal fields like orthopedic surgery, dermatology and cardiology continue to dominate the pay scale. These specialties also have strong growth potential. Their lucrative compensation boils down to procedures requiring expensive technology, as well as an essential combination of elective and emergency procedures.

To stay on top of the fastest growing medical specialties, it’s important to consider the political landscape, as well as the changing needs of the population. Because of the pandemic, telemedicine, which was previously restricted primarily to rural communities, was expanded tremendously; geriatric medicine is growing in demand as the population ages, but current reimbursement policies make it less desirable to pursue; and federal initiatives to raise awareness of mental health have spurred more people to seek out psychiatrists and psychologists. 

Which medical specialty is in highest demand?

Certain medical specialties are experiencing higher demand than others. Looking ahead, two of the most in demand medical specialties in the future are primary care and emergency medicine. Campaigns encouraging preventative care help increase the demand for primary care providers as a principal source of care. Emergency medicine addresses the comprehensive needs of patients.

Specialties that older people, such as geriatricians, geriatric psychiatrists, pain management specialists and physical therapists are projected to have a promising future and have already seen an uptick in recruitment on PracticeLink.com.

What specialty has the biggest physician shortages?

The law of supply and demand applies to healthcare as much as any other business. Projected physician shortages by specialty paint a concerning picture for primary care medicine, psychiatry, geriatric medicine and surgery. The shortage is driven by factors such as an aging workforce, increased demand for services and a growing population.

Addressing these shortages is critical, and for medical students, this presents an opportunity to enter a field with high job security and potential for growth.

What is the least stressful medical specialty?

Job satisfaction and stress levels are crucial considerations for many physicians. Interestingly, some of the fastest growing medical specialties are also among the least stressful. Fields such as dermatology and ophthalmology often provide a more balanced lifestyle compared to high-stakes environments like emergency medicine or surgery.

Choosing a specialty that aligns with your lifestyle preferences can lead to a more fulfilling career, ultimately impacting your overall job satisfaction and well-being.

As we consider the question of which medical specialty has the best future, it’s clear various factors come into play, including demand, salary and job satisfaction. By analyzing trends in healthcare and physician compensation, prospective medical professionals can make informed decisions about their career paths.

If you’re contemplating a career in medicine or are already in the field, staying informed about these trends is essential. Explore more about physician compensation and the evolving landscape of medical specialties in our other blogs in PracticeLink’s Resource Center.