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
Best States to Practice Medicine
‘Opportunity & Competition’ Rank
‘Medical Environment’ Rank
|50||District of Columbia||41.55||51||33|