There must be dozens of algorithms to help calculate the attractiveness of a US state for practicing medicine. The researchers at personal finance education website WalletHub compared all 50 plus the District of Columbia on 19 metrics that include average annual wages, level of competition, state medical board punishment, hospitals per captita, and medical resident retention.
Researchers grouped those metrics across 2 key dimensions: Opportunity & Competition and Medical Environment (elements included, below). You can review the full methodology on the site - but take a look at this snapshot of the 5 states scoring highest and lowest on 5 of the leading metrics.
Elements included in scoring across 2 key dimensions
Full methodology and methodology, here.