New York is 2019’s worst state for doctors – WalletHub study

State News
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With National Doctors’ Day coming up on March 30 and “physician” being the highest-paid job of 2018, the personal-finance website WalletHub today released its report on 2019’s Best & Worst States for Doctors.

Doctors are among the highest-paid and most educated professionals in the U.S. In fact, “physician” was the highest-paid job type in 2018, with a median base salary of over $195,000 and over 3,000 job openings during the year. The high salary average makes sense, given the importance of their life-saving work and the struggles that come with life in the medical profession.

But doctors don’t always start out wealthy. The average medical-school graduate left campus with more than $196,000 of debt in 2018. The medical profession has also been undergoing intense transformation in recent years. Health-care reform, the rise of branded hospital networks and the retirement of Baby Boomers are all complicating the lives of doctors.

To identify the best states for those in the business of saving lives, WalletHub compared the 50 states and the District of Columbia across 18 key metrics. The data set ranges from average annual wage of physicians to hospitals per capita to quality of public hospital system.

Practicing in New York (1=Best, 25=Avg.):

  • 50th – Avg. Annual Wage of Physicians (Adjusted for Cost of Living)
  • 49th – Avg. Monthly Starting Salary of Physicians (Adjusted for Cost of Living)
  • 51st – Hospitals per Capita
  • 28th – Projected % of Population Aged 65 & Older by 2030
  • 46th – Projected Physicians per Capita by 2026
  • 50th – Malpractice Award Payout Amount per Capita
  • 50th – Annual Malpractice Liability Insurance Rate
Source: WalletHub
 

Best States to Practice Medicine

Overall Rank
(1=Best)

State

Total Score

‘Opportunity & Competition’ Rank

‘Medical Environment’ Rank

1 Montana 69.15 31 17
2 Wisconsin 69.13 12 4
3 Idaho 68.55 17 8
4 Minnesota 68.32 23 2
5 Iowa 67.58 1 24
6 South Dakota 67.03 7 23
7 Kansas 66.65 2 9
8 Nebraska 65.81 4 7
9 Mississippi 64.70 6 34
10 North Dakota 64.50 13 27
11 Tennessee 63.78 20 20
12 Alabama 62.78 11 32
13 Colorado 60.03 27 5
14 Nevada 59.51 30 42
15 Oklahoma 59.38 3 31
16 Utah 59.31 29 11
17 Wyoming 58.50 36 50
18 Georgia 58.10 26 18
19 West Virginia 57.46 15 47
20 Louisiana 57.38 5 26
21 North Carolina 57.36 18 3
22 Maine 57.34 40 1
23 New Mexico 56.69 42 41
24 Arizona 56.42 32 35
25 South Carolina 56.02 14 44
26 Kentucky 55.89 9 45
27 Indiana 55.87 10 16
28 Washington 55.76 35 21
29 Missouri 55.06 24 36
30 Texas 54.69 19 6
31 Arkansas 54.19 33 29
32 Florida 53.99 22 28
33 Michigan 53.38 16 19
34 Pennsylvania 53.10 25 25
35 Oregon 52.83 28 12
36 Ohio 52.19 8 30
37 Virginia 52.12 38 14
38 New Hampshire 52.12 21 22
39 California 49.63 49 15
40 Illinois 49.37 34 46
41 Alaska 48.87 39 38
42 Vermont 48.81 41 13
43 Massachusetts 47.84 45 10
44 Maryland 46.36 47 40
45 Delaware 46.17 37 48
46 Hawaii 44.72 48 51
47 Connecticut 44.45 46 39
48 New Jersey 43.29 44 37
49 Rhode Island 42.83 43 43
50 District of Columbia 41.55 51 33
51 New York 34.01 50 49

 

 

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