Not only is the Bayou State ranked poorly for quality of life and health care, but it is also among the least family friendly states. In a field where burnout is rampant and a shortage is looming, this is a huge advantage. © Copyright ASC COMMUNICATIONS 2020. So, what makes a great place for a medical practice? Although doctors in the Hawkeye State are some of the best paid in the country, it actually ranks poorly when it comes to starting your own medical practice. Maryland 45. New York 2. Worst State: Mississippi Best States to Practice Medicine. It’s hard to tell a physician not to practice somewhere because quality healthcare is important everywhere in the United States. Here, we highlight the best and worst states to practice medicine in 2020. So far, the states with low malpractice insurance costs, lawsuits and payouts have been recognized as great places to practice solo medicine.Leave it to Louisiana to buck the trend. Related reading: This contributes to New Hampshire's place high in the ranks when it comes to the rate of health insurance coverage nationwide. If you're thinking of starting your own practice, consider doing so in a state that is conducive for medical professionals --- regardless of career stage or speciality. Rhode Island came in last on WalletHub’s 2015 list, so if there’s a bright spot for the … The metrics ranged from average annual wage of physicians to hospitals per capita. He helps healthcare professionals make smart, swift financial decisions. Here are the 10 worst states to practice medicine based on the analysis: 1. The Best & Worst Places to Practice Medicine in 2020, medical malpractice lawsuits leading to payouts, high cost of medical malpractice insurance, 2020 Ultimate Guide to Medical Practice Financing, How to Launch Your Own Private Medical Practice in 2020, How Continuing Medical Education for Physicians Works in 2020, 9 Essential Employee Benefits for Modern Medical Professionals. Interested in linking to or reprinting our content? 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Jack is the Head of Content Marketing at LeverageRx, a digital lending and insurance platform for the medical market. Overall Rank (1=Best) State. Despite the Bayou State's low cost of malpractice insurance, there are certain aspects that thwart its desirability as far as running a medical practice is concerned. Cost of living, quality of life and crime rate. Here are 2019’s 10 worst states to practice medicine in, according to WalletHub: 42. It is considered one of the safest state to live in considering that it has a low crime rate. First and foremost, the high cost of medical malpractice insurance certainly contributes to Pennslyvania's spot on the wrong side of the list. But what's even more detrimental to its repuation is the average physician pay and overall quality of life. Rhode Island 50. That's why it is important for you to determine what matters to you most so you can select a location will allow your medical practice to prosper. Interested in LINKING to or REPRINTING this content? It is also the states with the highest rate of insurance coverage. View the full list of all 50 states and Washington, D.C., at WalletHub. And the number 1 worst state to practice medicine is…West Virginia! Ranks in the bottom 10 in five categories, despite good pay First, the good news about West Virginia: It ranks #13 for physician pay. Connecticut 48. The work of a doctor—patient care—is highly stressful and requires great expertise, which is why physicians earn relatively high salaries. In addition, Maine has one of the highest number of primary care physicians. Which states should you stay away from? Hawaii 47. On the flip-side, here are the states you may want to think twice about launching your own medical practice. Some of those factors include: While these are all important aspects worth considering, some may rank higher on your list of needs than others. Similar to North Dakota, New Hampshire also consistently finds itself as one the states with the lowest rate of malpractice lawsuits leading to payouts. New York is also one of the states with the highest cost of malpractice lawsuits. Access more information about the methodology here. Alaska 6. Jared Kaltwasser. But that's not the only reason it's a conducive place for your medical practice to thrive. North Dakota is among the states with the least number of medical malpractice lawsuits leading to payouts. Here are the 10 best states to practice medicine based on the analysis: Here are the 10 worst states to practice medicine based on the analysis: More articles on rankings and ratings: 20 top rural & community hospitalsNewsweek's 10 best hospitals in the world20 most overweight US cities. Since the bank made its services available to healthcare practitioners nationwide, it has financed more than $1.5 billion in practice loans. Like North Dakota and New Hampshire, Massachusetts experiences a very low amount of fewer malpractice lawsuits. Although doctors in the Hawkeye State are some of the best paid in the country, it actually … The Granite State features one of the highest rates of employer-sponsored health insurance. The Big Apple is considered one of best cities in the world for countless reasons. Massachusetts 44. Delaware 10… Maine has the 2nd lowest violent crime rate in the country, which makes it a very safe place to establish your medical practice in. Worst States to Practice Medicine In . Rhode Island 3. To launch a successful business, you have to understand your market inside and out - especially when it comes to location. Considering that physicians are 15 times more likely to experience burnout compared to professionals in other fields, the choice of location for a medical practice should be an informed one. This is because the Iowa has a relatively high number of malpractice lawsuits and a fairly harsh medical board. Copyright © 2020 Becker's Healthcare. Montana is the best state to practice medicine and New York is the worst, according to an analysis by WalletHub, a personal finance website. From cost of living and crime rate to social amenities and outdoor recreation, there are many ways that a location can influence the well-being of a business and its employees. Maryland 9. Iowa. Number of malpractice insurance lawsuits and payout frequency. Time and time again, Maryland finds itself scraping the bottom of the barrel in regards to physician density and cost of living. SouthEast Bank, a community bank based in Knoxville, Tennessee, started Education Loan Finance in 2015 to deliver lower cost student loan refinancing options. All Rights Reserved. As you can see, many factors come into play when it comes to choosing the best location to start your own medical practice. 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