What makes a city or state a great place to practice?
There are several factors physicians consider as they start to build their practice, and today those factors go beyond malpractice, tort reform and physician density. Here are five key trends from Medscape about the make-up of a great place to practice:
1. Regional compensation differences aren’t as big as they used to be, and in some regions hospitals are acquiring private practice. Some physicians may find employment attractive with loan forgiveness and signing bonuses
2. Urban and metropolitan physician recruitment and placements are outpacing those in midsized and rural communities, according to Medicus. This is the first year that has been the case, which could indicate intensified competition for physicians.
3. The economic trends including decreasing oil prices and the information economy affect employment, housing prices and market desirability, according to the report. Physicians may forgo slight compensation increases in rural areas for the luxury of more urban conveniences.
4. Physicians with working spouses and children want to practice where there are job opportunities and good schools. Stable cities with diversified economies are more attractive to these physicians.
5. Young physicians are considering quality-of-life when choosing a practice location. They are less likely to have concerns about too much competition and more worried about taking on less call coverage. These physicians are also less likely to stay in the states where they trained.