New research provides good news for physicians who practice in Indiana, as well as for those looking to relocate. According to a study by WalletHub, the state provides a great environment for medical practice.
Researchers used 12 key metrics to rank each of the 50 states and the District of Columbia. The metrics ranged from average annual wages and salary disparities to patient population size and disciplinary actions by state medical boards.
WalletHub collected data from a variety of publicly available sources and then calculated the rankings for each category. Here is how Indiana fared:
- 8th in average starting salary
- 3rd in average annual wages
- 4th in least expensive malpractice insurance costs
- 25th in the number of projected physicians per capita by 2022
- 15th overall in most attractive state for physicians
All surrounding states, except Michigan, placed much lower than Indiana.
The rankings were based on:
- Mean annual wage
- Monthly average starting salary
- Wage disparity
- Number of hospitals per capita
- Number of physicians per capita
- Rates of state medical boards’ serious disciplinary actions per 1,000 physicians
- Malpractice award payouts per capita
- Malpractice liability insurance rates
Wallethub is an online personal finance resource company. Find the full report here.