What’s Up, Doc? Not Much Good In Massachusetts
Are you or someone you know such as a friend or family member currently employed as a medical professional here in Massachusetts? Then you just might be interested in the findings of this recent study.
This study, conducted by the personal finance professionals at WalletHub, takes a look at 2023's Best and Worst States for Doctors and the results for Massachusetts were...well, let's just say, not good.
Doctors, for the most part, are well compensated for the hard work they do to keep us healthy and happy. And(again, for the most part) rightfully so. But some states are more beneficial places to practice medicine than others.
According to WalletHub's study, it turns out that Massachusetts is one of the worst states for doctors to practice medicine. Why exactly is this the case? There are several reasons actually.
To come up with their findings, WalletHub compared data from numerous key metrics across all 50 states and the District of Columbia, and apparently, the Commonwealth didn't show decent numbers in any of those key metrics.
The WalletHub team looked at everything from the quality of the public hospital system in each state, the number of hospitals per capita, annual malpractice liability insurance, the average annual wage for physicians, etc., and the end result was Massachusetts is not a good state for doctors.
Not only did Massachusetts not rank anywhere in the top 10 for any of the favorable metrics, but in most cases, the state ranked pretty close to the bottom. Massachusetts ranked 48th for both Average Annual Wage and Projected Physicians per Capita.
Also, Massachusetts ranked 38th for Average Monthly Starting Salary for Physicians and 33rd for Malpractice Award Payout Amount per Capita. Those results plus a few others mean that, according to WalletHub, Massachusetts is 2023's 7th Worst State for Doctors.
Take a look at the study for yourself. Check out WalletHub's website here for all the rankings.