Top stories 2024: Physicians Practice best states to practice
The definitive ranking of which states are best for physicians.
Editor’s note: As we close out the calendar year, we wanted to revisit some of the best stories we’ve published this year both to remember our triumphs, but also as inspiration to take your practice to the next level in the new year.
The time has come once again to lay out the definitive Physicians Practice ranking of which states in the union are the best suited for practicing medicine in 2024.
These rankings are based on seven criteria using data from publicly available sources and Physicians Practice partners. The criteria are:
- Cost of living
- Physician density
- Amount of state business taxes collected
- Average malpractice insurance rates
- Quality of life
- Women's health care
- Geographic Practice Cost Indices (GPCI)
Want to see the rest of our rankings?
The best states for women's health
The worst states for women's health
The worst states for quality of life
The best states for quality of life
The worst states for cost of living
The best states for cost of living
Methodology
Physicians Practice averaged each state’s ranking in the six criteria. The GPCI was used to break any ties.
Sources
Cost of living
The cost of living ranking was based on the Missouri Economic Research and Information Center, which itself based its ratings on averaging the indices of cities and metropolitan areas in each state.
Physician density
The physician density rankings are based on the Association of American Medical Colleges’ U.S. Physician Workforce Data Dashboard. The dashboard contains data from the 2023 American Medical Association Physician Professional Data, various AAMC sources, and U.S. census data.
State business taxes collected
This ranking was based on the Tax Foundation’s Facts & Figures How Does Your State Compare? 2024. In particular, Physicians Practice used Table 3 which ranked the states on five criteria: corporate tax, individual income tax, sales tax, unemployment insurance tax, and property tax.
Average malpractice insurance
The raw data used to calculate the average malpractice insurance cost was provided by the Cunningham Group. That data was then averaged out by Physicians Practice.
Quality of life
For the quality of life metric, Physicians Practice used Wallethub’s Best States to Retire rankings which were based on adjusted cost of living, lowest annual cost of in-home services, their own taxpayer ranking, the percentage of the workforce aged 65 and older, museums per capita, theaters per capita, percentage of population aged 65 and older, life expectancy, and property crime rate.
Women's health
A new metric for this year's rankings, the women's health metric is based on the 2024 State Scorecard on Women’s Health and Reproductive Care from The Commonwealth Fund. The scorecard is based on 32 different metrics across three areas: health outcomes; health care quality and prevention; and coverage, access, and affordability.
GPCI
CMS uses the Geographic Practice Cost Indices (GPCI) to adjust Medicare physician payments to account for geographic differences in physicians’ costs. Each GPCI corresponds to one of the three main components of a Medicare physician payment. They are: physician work, practice expense, and malpractice expense. For the purposes of these rankings, Physicians Practices averaged the three GPCI’s together for each state, and major municipalities contained in each state. The lower the GPCI, the higher the ranking. Because of the importance of these criteria, specifically practice expenses, Physicians Practice used GPCI rankings as a tie-breaker in the event of a tie.
