Doctors in Alabama are fortunate to live in one of the best states to practice medicine, according to a new study by personal finance site WalletHub.
The website ranked the Yellowhammer State as the 9th best state to be a doctor in its new analysis of 2017’s Best & Worst States for Doctors.
According to the study, “physician” is the most popular profession within the top 1 percent of wage earners. However, the report also noted that in 2016, the average medical-school graduate left campus with a whopping $189,000+ of debt. Given intense transformation the medical profession industry has been going through in recent years with health-care reform, the rise of branded hospital networks and the retirement of Baby Boomers, WalletHub wanted to help doctors make the most informed decisions regarding where to practice.
Practicing in Alabama (1 = best, 25 = avg.):
- 6th: Avg. annual wage of physicians (adjusted for cost of living)
- 20th: Projected % of population aged 65 & older by 2030
- 13th: Projected number of physicians per capita by 2024
- 17th: Punitiveness of state medical board
- 28th: Malpractice award payout amount per capita
- 10th: Annual malpractice liability insurance rate
- 19th: Current competition (number of physicians per capita)
In order to determine the best states for doctors WalletHub researchers looked at 14 key metrics in the 50 states and District of Columbia. The data set ranges from the average annual wage of physicians to hospitals per capita to quality of public hospital system, said the report.
The top 10 states to be a doctor:
- South Dakota
Here’s how Alabama compares to the rest of the country: