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Between the 2022-2023 and the 2023-2024 academic years, the number of college graduates applying to medical school . That decline comes after a in the profession at the beginning of the pandemic.

As a practicing emergency medicine physician, I can understand the waning excitement about becoming a doctor. Physicians are grappling with burnout, higher insurance and education costs, administrative headaches, and rising violence against medical professionals.

There are moments when all of the pressures get me down, but given the choice, I would still choose this profession every time.

This year marks my 20th as a physician. Going back two decades, I can clearly recall my excitement upon graduating from East Carolina University. I was headed to a residency in emergency medicine in Philadelphia and was part of a class where an unusually high percentage (15%) of us chose this intense, demanding field.

Here is what I wish I had known back then. I offer this advice in the hope that it will inspire young people who may be skeptical to consider a life in medicine.

You Are More Than Your Degree: Embrace a Life Portfolio

In medicine, it is easy to let our profession define us. We replace our names with our titles, celebrating the achievement of becoming a "doctor." This identity can overshadow our own humanity, however, and our passion for other pursuits. It is crucial to remember that while we are professionals, we are also individuals with unique identities beyond our degrees.

In addition to practicing medicine, I run a healthcare marketing firm, and I teach at the University of North Carolina in the business school. While guiding MBA students, I emphasize the importance of a diversified financial portfolio. Surprisingly, we often neglect this approach in our personal lives. We do not diversify our "life portfolios," instead dedicating a disproportionate amount of time to our professions. In our quest to enter medical school, many of us excelled in diverse fields such as music, sports, and volunteerism. Yet, upon entering medical school, many shed these enriching activities for a white coat and stethoscope.

"Engaging in a hobby you love can serve as a powerful stress reliever. It allows you to step away from work-related concerns and immerse yourself in an enjoyable and relaxing activity," in Corporate Wellness Magazine explained. "Whether you find solace in gardening, lose yourself in a good book, or practice mindfulness through meditation, hobbies provide an essential escape from the pressures of daily life."

I fondly recall the attendings who continued to pursue their passions outside medicine -- an ENT who captured the world through his lens, an ophthalmologist who ran a volunteer clinic, and avid cyclists across specialties. They were not only healers but whole persons with vibrant lives beyond the hospital walls.

Speak Up When Things Aren't Working

Never underestimate the profound influence your job will have on your life. The practice of medicine can be a double-edged sword. It offers moments of profound connection and impact -- a sense of purpose -- but can also lead to burnout, depression, and, sadly, a among physicians.

Doctors must attend to their mental health, recognize the early signs of chronic stress and misalignment, and step back or step away if necessary.

A nonprofit advocacy group called is raising awareness about physician mental health. It gives doctors an anonymous way to speak up and support one another honestly. As the organization says, "The pervasive fear of losing everything -- their license, their insurance, even their practice -- stops many from speaking up about their struggles with mental health. Too often, speaking up puts everything at risk."

That is why doctors who are already practicing and those entering medical school must continue fighting to reform the medical licensing standards that prevent physicians from speaking up when they are in trouble.

Understand the Business of Medicine

A significant gap in medical education is the lack of emphasis on the business aspects of healthcare. As physicians, we enter a complex industry (nearly 20% of U.S. GDP) filled with stakeholders, regulations, and financial flows that many of us are unprepared to navigate. Make sure the continuing education you pursue prepares you for these realities.

These courses might also help you think more broadly about how you can impact the healthcare sector and patients' lives.

It certainly did for me. I still practice medicine but, as noted above, I am also an entrepreneur, a business school professor, and a healthcare marketing strategist. Listening to that inner voice urging me to diversify my career has been the best decision of my life. It has allowed me to make a mark on healthcare on multiple fronts and to increase my sense of personal fulfillment -- in addition to solidifying my financial well-being.

Graduates: give yourself permission to explore and excel in various aspects of your life and career. Medicine is a noble calling, but it is not your sole calling. Embrace the multitude of opportunities that lie ahead and strive to create a balanced, fulfilling life both inside and outside the hospital.

As you step forward with your degree, remember that you are stepping into a role much larger than the title that "doctor" bestows. You are future leaders, innovators, and caretakers of both your patients and your own lives.

Pursue excellence in medicine, but never at the cost of your own identity and happiness.

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