As physicians begin their job search, or as they narrow in on accepting an employment contract, there are a variety of factors that should be considered in order to reach a decision that will help increase your chances of a long-lasting career. While certain features such as the practice setting, compensation, and benefits are all important, it is also worth emphasizing the less-obvious aspects of various locales that could have a major impact. One geographic feature that is often ignored or disregarded in the face of more glamorous perks is the cost of living in a particular city or region. It is easy to be impressed by the dazzling night life and art scene offered in a city like New York; but if you chose Denver, Colorado instead, you could maintain the same lifestyle for about 54% of your New York income. Specifically, it would only cost you about $46,000 per year to live your life in Denver; but for that same lifestyle in New York, it'll cost you $100,000. The general cost of living, of course, takes into account the cost of housing, but when you look at the cost of housing specifically, the cost savings of living in smaller metro area can be even more dramatic than the general New York/Denver example.
A second important feature to consider in your physician job search is how progressive are the different states in their medical malpractice laws? Being named in a lawsuit is not something any physician ever wants to think about, but the hard reality is that by the later stage of their careers, roughly 61% of physicians have been sued. With those odds, it makes a lot of sense to consider how much a state's medical malpractice laws may help or hurt you in that scenario. For instance, some states, have placed award caps on medical malpractice lawsuits to disincentivize patients from bringing the lawsuit to begin with. Others have shorter statutes of limitations, shrinking the amount of years within which a patient can decide to bring a law suit. On the other hand, some states have famously high malpractice premium rates, making those states considerably less attractive.
Other factors may be more important to certain physicians, while of little or no consequence to others. For physicians who have a family, which cities are known for impeccable public schools? For the golfers out there, which areas have the highest number of quality courses close to work? What is the climate like in the regions you're considering? A higher average of sunny days could make work a lot more enjoyable (I'm assuming, perhaps incorrectly, of course, that you start work late enough, or end work earlier enough to see the sun at all). If you'll be living away from your extended family, which cities have direct flights that can easily connect you for holidays?
While some of these factors may seem silly or elementary, when all considered together, they can make a significant impact on how much you enjoy the job and life you end up choosing. When it comes to selecting from many different areas of the country, carefully consider all of the small things as much as the bigger ones.
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