Where does Louisiana rank for doctors to practice in? A new report by WalletHub has Louisiana at third overall in the country, behind only Montana and Indiana. WalletHub Analyst Chip Lupo says one key reason is Louisiana’s relatively low cost of living, which makes it much more attractive for a young doctor saddled with tens of thousands of dollars in student loans.
“If you’re able to practice in a relatively low-cost of living state like Louisiana, your annual salary will go a lot farther in a place like Ruston, Louisiana than it would be in Manhattan, New York,” Lupo said.
The states were ranked on 19 metrics, including average annual salaries, the number of hospitals per capita and the quality of public hospital systems. Another metric is projected supply of physicians by 2032, for which Lupo says Louisiana ranks third.
“Louisiana’s predicted to have more of an abundance of physicians, which falls into this whole idea of making healthcare more accessible and affordable in rural areas,” Lupo said.
Lupo says Louisiana is also doing a good job in retaining young doctors who had just completed their residencies, ranking 19th in the country.
“Ideally, you would want to be somewhere around 50%. The higher, the better. So Louisiana, at about 48%, is doing a pretty good job of once those residents set up in Louisiana, they tend to stay,” Lupo explained.
More information on the report can be found at Wallethub.com.
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