The Affordable Care Act implemented to national reform healthcare was based, in part, on Massachusetts' healthcare reforms that went into affect a few years earlier. As a result, trends in the Massachusetts healthcare industry are closely monitored to examine how reforms could impact physicians, hospitals and patients nationally.
A new report from the Massachusetts Medical Society on the physician practice environment is particularly interesting for physicians nationwide. According to a MassLive report, there are a few key trends to note:
1. Physician income is up 7 percent, as well as nationally, but physician salary levels in the state have lagged behind the rest of the country and the lag continues. The average salary for physicians in Massachusetts was 22 percent lower than national average last year.
2. The state's applications to medical schools increased over 2013, but so did the percentage of physicians more than 55 years old. However, job vacancies for physicians in the state dropped considerably between 2013 and 2014.
3. As average physician income increased for New England, the average ratio of housing costs to the median physician income has as well, and the cost of doing business is also rising.
4. The practice environment is improving in the state over the last year, reported Massachusetts Medical Society President Dennis M. Dimitri. The medical malpractice insurance decreased, but the widening gap between Massachusetts physician salary and the national average salary is a cause for concern.
5. The quality of care provided in Massachusetts is among the highest in the United States.