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Correlating Economic Cycles with Job Placement in Academic Radiology: Implications for Graduating Residents'
Khushboo Jhala1, Sana Majid1, Sara Durfee1
1Department of Radiology, Brigham and Women's Hospital, Harvard Medical School, 75 Francis Street, Boston, MA 02115 (K.J., S.M., S.D., Z.L., W.W.M.-S.).
Academic Radiology
|May 16, 2025
Summary
Economic downturns correlate with more radiology residents entering academic practice. Understanding economic cycles can aid academic practices in recruitment and mentorship during workforce transitions.
Area of Science:
- Radiology
- Health Economics
- Medical Education
Background:
- Economic cycles significantly impact career pathways for medical professionals.
- Radiology residents' career choices are influenced by practice models and economic conditions.
Purpose of the Study:
- To investigate the correlation between United States economic cycles and radiology residents' entry into academic versus nonacademic practice models.
- To analyze how economic recessions affect the proportion of radiology graduates choosing academic careers.
Main Methods:
- Utilized US Gross Domestic Product (GDP) data from 2002-2023 to identify economic recessions (2008 mortgage crisis, 2020 COVID-19 pandemic).
- Compiled an alumni database of graduating radiology residents from a tertiary care center (2006-2012 and 2018-2024).
- Employed Fisher's Exact Test to compare the ratios of alumni in academic versus other practice models (private, teleradiology, community hybrid) before and after economic decelerations.
Main Results:
- During the 2008 mortgage crisis, 35% of graduating residents entered academic practice compared to 6% prior to the recession (P=.05).
- During the 2020 COVID-19 recession, 67% entered academic practice versus 35% prior (P=.05).
- In the post-COVID economic expansion, only 25% of recent graduates entered academic positions, a decrease from recessionary periods (P<.05).
Conclusions:
- An inverse relationship exists between economic growth phases and radiology resident placement in academic practices.
- Understanding economic cycles is crucial for academic radiology practices to develop effective recruitment strategies.
- Timely recruitment and mentorship strategies can help maintain workforce stability in academic radiology.
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