NJ RANKS NEAR THE BOTTOM IN PAY AND JOB SATISFACTION
- NJ is ranked the worst state in America to practice medicine.
- Increased administrative burdens: Over 65% of PCPs devote at least 10 hours in paperwork and administrative tasks and 20% devote over 20 hours per week.
- Reduced face time with patients: PCPs spend more screen time than face time per patient visit.
- Low compensation: Family Medicine had the second lowest compensation in 2017 Medscape Report.
- Unfriendly environment: Medical students in NJ medical schools are often discouraged from choosing primary care.
- Low job satisfaction: Family Medicine and General Internal Medicine physicians were least likely to choose their specialty if they still chose to practice medicine
NJ PRIMARY CARE STUDENT DEBT IS RISING
- Medical students have increased levels of undergraduate debt
- Medical school tuition is rising and financed at rates up to 8-11% interest
- Medical school loans accrue interest over a primary care physician’s residency
- Medical school loan options for consolidation and refinancing vary significantly.
NJ’S PRIMARY CARE LOAN REDEMPTION PROGRAM IS INACCESSIBLE AND UNCOMPETITIVE WITH OTHER STATES
- NJ’s primary care loan redemption program is a non-starter and has not served its purpose to increase access to primary care in medical underserved communities.
- Other states offer higher loan programs and are more accessible to primary care physicians.
- Priority eligible sites to hire under the program are prison systems and FQHCs.
- Many private practices in underserved communities have been denied approval as an eligible site to hire physicians under the program.
- Income from PCLRP is taxable to the physician and the $120,000 has remained stagnant.
- Funds remain uncommitted each year with no shortage of applicants and sites wanted to hire.
- There is no accountability of the program to track retention in medically underserved communities.
NJ's primary care incentives lag behind other states
- Primary care spending – encouraging investment in primary care
- Multipayer primary care infrastructure investment
- Primary care revenue enhancement strategies
- Practice transformation Supports