Midwest best area for private practice

Wisconsin is the best state for physicians looking to go into private practice, according to a new ranking from Becker’s ASC Review. The ranking was based off of average physician pay and market competitiveness.

According to the data, Wisconsin has the best numbers for market competitiveness, with an average of 2.49 physicians per 100,000 people and a Herfindahl-Hirschman Index of 1,465.  The Herfindahl-Hirschman Index is a common measure of market concentration. A Herfindahl-Hirschman Index of less than 1,500 is considered good. The average salary of a physician in Wisconsin is $258,470, which was in the middle range of salaries for the top 10 states.   

The state with the highest salary within these rankings was Maine, at $279,700. However, it also has a higher rate of market competitiveness, with 26.21 physicians per 100,000 people and a Herfindahl-Hirschman Index of 3,279. (A Herfindahl-Hirschman Index of 2,500 or more is considered a highly saturated market.)

The other top states (in order) after Wisconsin, for going into private practice are:

• Colorado
• South Dakota
• Montana
• Arizona
• Indiana
• Maine
• Minnesota
• Idaho
• Missouri