- The top three states to practice medicine in based on job opportunities and medical environment overall were Iowa, Minnesota and Idaho, while New Jersey, the District of Columbia and New York ranked as the worst in a new report from WalletHub.
- Physicians in Indiana earn the highest annual wage on average than any other state and those in the District of Columbia earn the lowest, the report shows.
- New York was among the worst states in four out of five categories in the report – more than any other state. Its medical board out of all U.S medical is not among the most punitive, according to the report.
There are at least three main reasons hospital administrators and medical professionals should be mindful of findings like those outlined in the WalletHub report: the myriad of new doctors entering the medical field have to decide on where to practice medicine post-medical school, healthcare organizations' desire to attract the best doctors and the country's physician shortage, which will range from 34,600 to 88,000 doctors by 2025, the Association of American Medical Colleges' latest projections show.
This year saw a record number of medical graduates entering residency programs in the U.S., according to the National Resident Matching Program. These results should be "closely watched because they can be predictors of future changes in physician workforce supply," the nonprofit stated.
The medical environment in the U.S. is rapidly changing to adapt to an aging population, new regulations, among other changes, as noted by WalletHub. During this time, administrators of hospitals and health systems want their organizations to be more appealing to doctors that can provide the best quality of care. Those in states that already have medical environments ranked among the best in the country can make note of this in order to attract more professionals.
In terms of states' medical environment, projected competition among doctors by 2024 is the lowest in Idaho, the least punitive state medical board is South Carolina's, the lowest malpractice payout amount per capita is in North Dakota and Wisconsin has the least expensive annual malpractice liability insurance, WalletHub's report shows.
Unsurprisingly, many of the states towards the bottom of WalletHub's new list are experiencing the most pronounced shortages of healthcare professionals. Among the states with the most severe gaps are California, Florida, Texas, Arizona and New Mexico, an Indeed.com representative told Healthcare Dive via email. These states could use WalletHub's findings to address the issues facing doctors in order to help address their shortages.