With National Doctors’ Day coming up on March 30 and the median physician’s salary at around $208,000, the personal-finance website WalletHub has released its report on 2023’s Best & Worst States for Doctors, as well as expert commentary.
To identify the best states for those in the business of saving lives, WalletHub compared the 50 states and the District of Columbia across 19 key metrics. The data set ranges from the average annual wage of physicians to hospitals per capita to the quality of the public hospital system.
Practicing in California (1=Best, 25=Avg.):
44th – Avg. Annual Wage of Physicians (Adjusted for Cost of Living)
41st – Avg. Monthly Starting Salary of Physicians (Adjusted for Cost of Living)
41st – Hospitals per Capita
22nd – Insured Population Rate
43rd – Projected percentage of Population Aged 65 & Older by 2030
7th – Projected Physicians per Capita by 2030
19th – Punitiveness of State Medical Board
13th – Malpractice Award Payout Amount per Capita
10th – Annual Malpractice Liability Insurance Rate
For the full report, visit: https://wallethub.com/edu/best-and-worst-states-for-doctors/11376
Expert Commentary
What are the biggest issues facing doctors today?
“I think the greatest issue facing doctors today is their loss of professionalism due to the pressures placed on them by their employers (e.g., hospitals) or practice owners (e.g., private equity). These pressures preclude them from advocating for their patient’s welfare due to lack of time and concerns about annoying their employers/practice owners.”
Maxwell J. Mehlman JD – Professor; Co-Director, The Law-Medicine Center, Case Western Reserve University
To what extent does the threat of a malpractice lawsuit affect doctors’ ability to do their job?
“Defensive medicine is an issue on the minds of many providers. Statistically, most physicians can expect to be sued at some point in their careers. These suits can often be for what people least suspect. And providers must be covered by malpractice insurance by law so with rare exceptions, providers are in no way liable for any malpractice claims costs, particularly if they work for large practices or systems.”
Adam E. Block, Ph.D. – Associate Professor, New York Medical College
“The data I am aware of, from 2006, show that malpractice expenses were a relatively small percentage (at 10 percent) of physicians’ practice expenses.”
Maxwell J. Mehlman JD – Professor; Co-Director, The Law-Medicine Center, Case Western Reserve University
How do state and local policy influence the lives of doctors and other medical professionals?
“Medicaid is the biggest factor that varies between states that impact medical professionals. In states with expansive Medicaid programs and relatively high reimbursement rates, providers often build practices around treating these populations. In states where Medicaid reimbursement rates are lower, providers are often reluctant to build practices around these populations and seek a mix of patients or exclude Medicaid patients completely.”
Adam E. Block, Ph.D. – Associate Professor, New York Medical College
