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Supply, Demand, and Equilibrium in the Market for CRNAs

Author

Listed:
  • Steven Stern

    ()

  • Elizabeth Merwin

    ()

  • Lorraine Jordan

    ()

Abstract

This study determined the current trends in supply, demand and equilibrium (ie, the level of employment where supply equals demand) in the market for Certified Registered Nurse Anesthetists (CRNAs). It also forecasts future needs for CRNAs given different possible scenarios. The impact of the currect availablity of CRNAs, projected retirements, and changes in the demand for surgeries are considered in relation to CRNAs needed for the future. The study used data from many sources to estimate models associated with the supply and demand for CRNAs and the relationship to relevant community and policy characteristics such as per capita income of the community and managed care. These models were used to forecast changes in surgeries and in the supply of CRNAs in the future. The supploy of CRNAs has increased in recent years, stimulated by shortages of CRNAs and subsequent increases in the number of CRNAs trained. However, the increases have not offset the number of retiring CRNAs to maintain a constant age in the CRNA population. The average age will continue to increase for CRNAs in the near future despite increases in CRNAs trained. The supply of CRNAs in relation to surgeries will increase in the near future.

Suggested Citation

  • Steven Stern & Elizabeth Merwin & Lorraine Jordan, 2006. "Supply, Demand, and Equilibrium in the Market for CRNAs," Virginia Economics Online Papers 392, University of Virginia, Department of Economics.
  • Handle: RePEc:vir:virpap:392
    as

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    File URL: http://www.virginia.edu/economics/RePEc/vir/virpap/papers/virpap392.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Anesthesia manpower; CRNA; demand; nursing workforce; supply;

    JEL classification:

    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets

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