BCBSNM launches grant program to recruit physicians

Blue Cross and Blue Shield of New Mexico is hoping a new grant program will be a shot in the arm and help the state recruit new physicians.

New Mexico is facing a shortfall of thousands of health care workers, including different types of physicians and others, according to an analysis from Think New Mexico, a bipartisan, solutions-oriented think tank. The group suggested several changes to reverse the trend, including changes to medical malpractice and tax laws the group said is making New Mexico less attractive than other states for physicians.

BCBSNM last week announced it is investing $500,000 to launch a grant program that will pay for signing bonuses, moving costs, salary assistance and loan repayment support.

Independently owned physician practices will be able to apply for grants.

Dr. Brian Etheridge, BCBSNM chief medical officer of Medicaid, said the goal is for the grant program to help bring about 10 physicians to the state. That could have a huge impact, as doctors can see about 3,000 patients per year and support dozens of other technicians, nurses and administrator jobs.

"We recognize that this is just a part," Etheridge said. "This is not a silver bullet, but it's a piece of the puzzle."

BCBSNM is providing the $500,000 to the New Mexico Medical Foundation, which will establish a committee that will score applicants based on a variety of factors, including different health care needs throughout the state.

"In light of the state losing at least 248 active practice physicians since 2019, New Mexico Medical Foundation is excited to participate in this creative initiative to increase the number of practicing physicians in New Mexico” Annie Jung, director of the New Mexico Medical Foundation, said in a statement. “And we extend our gratitude to BCBSNM for their generous investment in the medical workforce."