RI Ranked One of the Worst States for Doctors in U.S.
Tuesday, March 28, 2017
Rhode Island is one of the worst states in the country for doctors.
According to a recent study completed by WalletHub, Rhode Island is ranked as the 5th worst state in the country for doctors, ranking 47th out of 51.
“Not only did the average medical-school graduate leave campus with more than $189,000 of debt in 2016, but 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 and warranting pause from potential whitecoats,” said WalletHub.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTRhode Island ranks 43rd for opportunity and competition and 49th for medical environment.
Rhode Island Ranks:
- 48th– Avg. Annual Wage of Physicians (Adjusted for Cost of Living)
- 30th– Avg. Monthly Starting Salary of Physicians (Adjusted for Cost of Living)
- 38th– Hospitals per Capita
- 18th– Projected % of Population Aged 65 & Older by 2030
- 47th – Projected Number of Physicians per Capita by 2024
- 47th– Malpractice Award Payout Amount per Capita
- 50th – Current Competition (Number of Physicians per Capita)
The Rankings
Rhode Island ranks behind Connecticut and Massachusetts at 45th and 46th respectively. Rhode Island ranks ahead of Maryland and New Jersey who rank 48th and 49th respectively.
Iowa ranks as the best state for doctors while New York is ranked as the worst state for doctors.
See the full rankings in the map below
The Method
In order to identify the best states for doctors, WalletHub’s analysts compared the 50 states and the District of Columbia across two key dimensions, namely “Opportunity & Competition” and “Medical Environment.”
They evaluated those dimensions using 14 relevant metrics. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for practicing doctors.
WalletHub then calculated the overall score for each state and the District based on its weighted average across all metrics and used the resulting scores to construct our final ranking.
Opportunity & Competition – Total Points: 70
- Physicians’ Average Annual Wage: Double Weight (~12.72 Points)
- Physicians’ Average Monthly Starting Salary: Full Weight (~6.36 Points)
- Hospitals per Capita: Full Weight (~6.36 Points)
- Insured Population Rate: Full Weight (~6.36 Points)
- Primary-Care Provider Shortage: Full Weight (~6.36 Points)
- Projected Share of Elderly Population: Full Weight (~6.36 Points)
- Current Competition: Full Weight (~6.36 Points)
- Projected Competition: Full Weight (~6.36 Points)
- Number of CME Credits Required: Full Weight (~6.36 Points)
- Presence of Interstate Medical Licensure Compact Law: Full Weight (~6.36 Points)
Medical Environment – Total Points: 30
- Quality of Public Hospital System: Full Weight (~7.50 Points)
- Punitiveness of State Medical Board: Full Weight (~7.50 Points)
- Malpractice Award Payout Amount per Capita: Full Weight (~7.50 Points)
- Annual Malpractice Liability Insurance Rate: Full Weight (~7.50 Points)
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