Dan,
I always have to give you kudos for stepping into the lion's den.
Really hard to sum this all up in one sentence, but here's my best shot.
The specialty has become less rewarding, faces increasing risks of marginalization and job market collapse, and the people with any power to change this have mostly made their buck already and so they either pretend there is no problem or have conflicts of interest with the potential solutions.
Is it reduced interest in our field?
Yes. Consider this, even in the glory days of radonc when we were getting great jobs with technical partnership making bank working 4 days a week with minimal call and no weekends, we only ever managed to attract ~200-250 applicants to a year. This was in the glory days when radonc actually WAS awesome. I've heard people blame SDN over the last few years for radonc's PR problem, but this is a problem that existed long before the SDN detractors. So why the decline in interest? Well, we used to attract the smartest medical students in the country, and the smartest medical students in the country have decided there is enough reason to stay away. This is a field on the decline by every single measure. We are working harder for less money, less autonomy, and with
limited opportunities for jobs in desirable locations (i.e. not NE Ohio, no offense). You can argue that medicine as a whole is on the decline, but if you have to choose to be stuck on a sinking ship then at least with other specialties you get to choose which ocean you're gonna drown in.
Is it the change of the job market as a result of the changes in healthcare (consolidation of practices, fewer and fewer solo practices, etc)? What is the unique problem that radonc faces that other specialties do not with these changes?
The unique problem is that we have simultaneously torpedoed our demand (hypofrac, omission, TORS, advances in systemic therapy) while raising the supply (resident expansion). Good jobs are limited, good jobs in good cities are even more limited. Everyone wants them, they are all salaried, and you have no negotiating power.
Is it that residents are graduating and they are not getting a job after years of school, training, and debt? What is the best data for this to graduates truly not having any open positions to apply to. I say this as right now in Northeast Ohio alone I know of one group using a locums looking to hire a permanent doc, another using 3 locums trying to find 2-3 permanent positions, and another using 2 locums that needs 3 permanent docs.
It's not about where you start your career. Leadership obsesses over the ARRO job surveys as a measure of job market strength but it's all artificial. We're going through a period of consolidation. You know the game. Small hospitals and private practices are being bought out and big hospital systems are opening up satellites with 10-15 on beam trying to squeeze out the competition. Older physicians who were making $600k+ are being replaced by new grads making $350k. 2 years down the line your not so new grad wants to know when they're getting a raise. Unfortunately, it's hard to justify paying them more than $350k when they only have 10-15 on treatment. If we wait until new grads are going unemployed to fix the supply problem, we will have waited too long.
-Is it the expansion of medschools/slots and residency programs/slots and this goes back to is there truly an oversupply and not enough demand? Or the demand is there does not match the interests of the applicants (ie tons of people graduating in Cali and NYC but jobs are needed in middle america)?
There is both an oversupply and a geographic maldistribution. No one wants to go to rural America unless they are from rural America and even then it's a stretch. Statistically speaking, few people from rural America are making it into medical school and even fewer of those people are making it into radonc. That being said, everyone has a number. When you start to see the salaries in rural America go down, you know that there is an oversupply of radoncs. Spoiler: Salaries in rural America are going down.
-Is it a DEI issue (or at least in part)?
I once made the mistake of bringing my wife to an ASTRO party. She was ogled at and flirted with by residents and people I would consider leaders in our field to the point of extreme discomfort and an early exit. Historically, this field has been filled with a bunch of awkward nerdy dudes. Every year, we all get together at ASTRO where awkward old white men who wouldn't be given a second thought by the rest of society are wined and dined by industry and treated like celebrities by their peers and contemporaries. We perpetuate this pervasive elitism, stroke each others' egos, and make it impossible for anyone that's not like us to break in. That was all accepted/acceptable because radonc was in high demand and so when an attending you were trying to impress took a proverbial dump on your chest you'd simply tell them "thank you sir, may I have another." Now that no one wants to touch us, we start asking if radonc has a DEI problem?
-Is it declines in private/community practice compensation with healthcare consolidation? In most academic university centers salaries have gone up (they were in the low $200k at U of M for new grads 10+ years ago and now are >$300k...I realize inflation is brutal recently but salaries went up). However, the days of private groups owning their equipment and getting the tech revenue is uncommon now, so the >$1m salaries (more than even almost every single Chair makes in the country based on SCAROP data) are hard to come by.
This is part of it. I have said before, we've raised the floor and dropped the ceiling. Eventually, we will drop the ceiling further. I am a generalist at an academic satellite doing 90th+ percentile productivity (~13k RVUs) for 75th percentile compensation (~$650k). I hypofractionate 90% of my prostates and breasts and I work for every one of those dollars.
My colleague works at a satellite of one of the largest academic institutions in the country, in my same region, which employs ~40 radoncs. He has all sorts of administrative responsibilities, works 5 days a week, struggles to find coverage for vacations, and generates as many RVUs as I do for median compensation ($550k). I'm very happy with my situation. I'd be very unhappy with his.
We are two of the most productive radoncs in the country and neither of us are even sniffing $1MM. Meanwhile,
both of our institutions have senior academic professors making as much as we do, seeing minimal patients, and producing zero meaningful research. He is a fantastic clinical physician who will ultimately be pushed to industry because
we eat our young to subsidize the fat at the top. I attend 7 tumor boards a week, am on call 26 weeks a year, and am constantly asked to take on more responsibility for free. There is constant downward pressure on my salary. Most of us aren't trying to make $1MM, we just want to be compensated fairly. As of right now, I absolutely believe that I am, but my responsibilities are only going up and my salary is only going down.
As good a deal as I have, it is nothing close to those that came before me, and I can guarantee that the person who comes after me will be worse off.