Doctors are well-known for making a lot of money and being among the highest-paid workers today, which is why there is always a lot of competition in the medical field.
That competition allows many doctors to choose where they work, and a new study shows that Louisiana could be a great place to start a medical practice or one of the worst.
Can Doctors In Louisiana Afford Their Medical-School Loans?
The average medical school graduate owes more than $230,000, which may not appear to be a problem given that a physician’s annual salary in Louisiana is approximately $237,000.
However, a median-paying job is not guaranteed for a variety of reasons, including a lack of merit outside of school, underfunded hospitals, and an oversaturated labor market in a given area.
A new study shows that Louisiana is a good place for doctors looking for a well-paying job, but some larger issues may deter them.
Louisiana Is The 4th Best State for Opportunity & Competition For Doctors
According to WalletHub’s study, Louisiana is the fourth-best state in terms of medical opportunities and competition, and it is expected to become the third-best state by 2032.
Though Louisiana offers good medical opportunities, the state’s larger medical environment detracts from the Pelican State’s allure. The same study ranked Louisiana as the 40th best for the environment in medicine, indicating how difficult it is to practice medicine here.
Louisiana’s main issue with the medical environment is the high cost of annual malpractice liability insurance, which is the fourth most expensive in the country.
