Doctors are among the highest paid and most educated professionals in the nation, but what’s the trade-off?
In 2006, the average medical-school graduate left campus with more than $189,000 of debt, according to the Association of American Medical Colleges.
And that’s just the tip of the iceberg. Health-care reform, insurance costs, the rise of branded hospital networks and retirement of baby boomers all are complicating the lives of doctors, according to the finance website WalletHub.
While physicians are feeling the heat nationwide, those in New York have the worst of it. Based on key factors such as starting salary and annual wages, malpractice liability insurance rates and hospitals per capita, the overall environment for doctors in the state ranks dead last among all 50 states and the District of Columbia.