Want to know which are the best states to practice medicine? Everyone knows different jobs tend to have different salaries, and the healthcare industry tends to have some of the highest ones. We have already compiled a list featuring The 10 Best-Paying Jobs in America (2014), showing what the earnings for each type of job are in the US. Some of the top-paying jobs include surgeon, with earnings that scale up to $233,150 per year, and dentist, with an average salary of $146,340 per year.
Moreover, it might not come as a surprise that the same jobs within different states also experience higher and lower incomes, depending on the living costs and other index variables, such as GPCI (Geographic Practice Cost Indices), tax burden, physician density, competition, and malpractice claims per capita. Every state in the U.S has diverse practice conditions, and demand for physicians fluctuates from state to state, as does quality of life levels and other amenities, such as outdoor activities, all of which make some states ideal for raising children, and collaborating on medical research.
So if you’ve already made your maximum effort in order to get your Medical Degree, now it’s time to choose wisely where you should live, in order to practice medicine and get the most out of it. According to national statistics, surgeons can bring in more than $200,000 per year. However, this salary changes drastically depending on which state medicine is practiced in. Check out some of the best states to practice medicine, as compiled by Medscape.
This state has the second-highest employer-provided insurance, as well as a low incidence of malpractice claims per capita. Physician density is low, and state income tax is only 5%. Utah has a cost of living that ranks below the national average, and the dominant insurer, Intermountain Healthcare, controls less than one half of the state market. Moreover, this state offers amazing landscapes and offers breath-taking deserts and mountains.
The state of Idaho has one of the lowest physician density rates in the United States. Its population has rapidly increased in the past decade, growing more than 21%. Cost of living is considerably lower than other states, while compensation is in the middling range.
The beautiful state of Georgia offers a very competitive insurance market, with a Medicare population lower than the national average. Moreover, it has only about 20 physicians per 10,000 patients and its population is rapidly growing. With a maximum state income tax of 6%, Georgia not only is a great place to practice medicine, but also has the Gulf Coast beaches in the south and the Blue Ridge Mountains in the north.
Read on to see our final selections of the best states to practice medicine in.
This state isn’t exactly lacking physicians. Yet, Virginia is a relatively cheap state to live in. Its cost of living is below average, and definitely lower than its neighboring states. The state’s income tax ranges between 2% and 5.75%, and has low medical liability rates. Moreover, Virginia has a highly employed population, with rates of foreclosure which barely reach one half of the national average.
South Dakota has the third-lowest unemployment rate in the country, and personal income is growing every year. Nevertheless, not many physicians live in this state: no more than 22 professionals live in South Dakota, per 10,000 residents. On top of that, this state has low malpractice costs, high insurance competition and no state income tax. Pretty cool, isn’t it?
New England states aren’t cheap, and have similar living costs and insurance competition. Nevertheless, in New Hampshire physician density is rather low, and its employer-provided insurance coverage rate is 62%, exceeding the national average. Despite having some rather pricey malpractice insurance, New Hampshire doesn’t have sales or income tax.