PayScale Releases Healthcare Hotspots Report
Small- to medium-sized cities dominate ranking with McAllen, Texas taking the top spot; Report highlights cities with high salaries for healthcare positions and significant healthcare employment prospects
Seattle - May 5, 2011 - PayScale, Inc., the world's largest real-time salary data provider, today announced its Heathcare Hotspots Report.
The Top Healthcare Hotspot is McAllen, Texas. McAllen also holds the distinction of being one of the most expensive places for healthcare based on per capita healthcare costs. Three of the top Healthcare Hotspots are in Florida, a place known for retirement. Because of the large number of retirees, Florida serves as a clear example of supply and demand. The demand for healthcare is large due to the retirees, and thus the employment levels and pay are high for healthcare workers.
Another key finding from the report is that big cities are not necessarily Healthcare Hotspots. The most populated city on the list is Riverside, Calif. (the 13th largest metro area in the United States). However all of the other cities in the PayScale HealthCare Hotspot ranking are in the bottom 50 of the 100 most-populated metropolitan areas.
"Some towns historically were known for one industry: Hartford, Conn. and insurance, Detroit and cars, Pittsburgh and steel. In the modern service economy, healthcare is the growth industry that can dominate employment in a medium-sized city," said Dr. Al Lee, director of Quantitative Analysis at PayScale.
Adds Lee: "The top city, McAllen, Texas, achieved its ranking by having a very high percentage of workers directly employed in healthcare, approaching double the national average. For healthcare job pay, major cities like San Francisco are still tops, but when considering both how important healthcare is to the city as well as pay, leading the pay list are Modesto, California and Honolulu, Hawaii, with pay about 20% above the national average."
Healthcare Salary Hotspots Methodology
Using PayScale's extensive database, we examine the 100 largest metros and determine the top 10 Healthcare Hotspots, based upon employment opportunities and relative pay.
First, we look at the ratio of healthcare workers (e.g. physicians, nurses, health techs, etc.) relative to all workers within the metro to see if the metros have an above-average presence of healthcare workers.
Second, we find the typical pay of healthcare workers to see if the metros have an above-average pay for healthcare workers.
Lastly, we calculate a score that takes into account both the relative presence of healthcare workers and the relative median pay of healthcare workers and use this measure to determine the top spots for healthcare.
The full report can be found at: http://www.payscale.com/healthcare-occupations
PayScale.com (www.payscale.com) is the leading online provider of employee compensation data. With the world's largest database of individual compensation profiles, PayScale provides an immediate and precise snapshot of current market salaries to employees and employers. PayScale's patent-pending, real-time profiling technology collects and indexes employee pay attributes worldwide and makes this compensation data available through its online salary tools and salary benchmarking reports. PayScale was founded in 2002 and is headquartered in Seattle. For more information, visit: www.payscale.com/about.asp
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