ALBUQUERQUE — Blue Cross and Blue Shield of New Mexico is making an investment in the health of New Mexicans with a $500,000 grant to the New Mexico Medical Foundation. The funding aims to address the critical shortage of health care professionals across the state, facilitating the recruitment and retention of physicians to increase access to care for New Mexicans.
New Mexico ranks among the lowest in the nation for physician-to-population ratios, contributing to barriers in receiving timely medical care. The physician shortage can lead to negative health outcomes for individuals and communities, resulting in problems such as unmanaged chronic conditions and increased use of emergency services.
“A robust health care workforce is essential for the well-being of communities in New Mexico,” said Dr. Brian Etheridge, BCBSNM chief medical officer of Medicaid. “This grant represents our commitment to fostering improved health outcomes and access to quality health care for all New Mexicans. By investing in the recruitment and retention of physicians, we can help to address the gaps in our health care system and empower families to manage their health more effectively.”
The New Mexico Medical Foundation will use the grant funds to help independently owned physician practices across New Mexico recruit and retain physicians. The money will directly support new physicians through signing and retention bonuses, moving costs, salary assistance and loan repayment support. This initiative aims to establish a sustainable system that not only attracts new talent but also supports and retains existing health care professionals in New Mexico.
“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,” reported Annie Jung, Director of the NM Medical Foundation. “We extend our gratitude to BCBSNM for their generous investment in the medical workforce.”
This investment with the New Mexico Medical Foundation is just the latest way BCBSNM is helping bolster the health care workforce in New Mexico. Also, this year BCBSNM gave $500,000 to New Mexico State University — $300,000 to support a professorship in the School of Nursing and $200,000 in scholarships for students pursuing bachelor level nursing and social work degree programs.
To learn about other initiatives aimed at improving health care access in New Mexico, please visit BCBSNM’s newsroom and Corporate Social Responsibility Report.
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About Blue Cross and Blue Shield of New Mexico
Blue Cross and Blue Shield of New Mexico is one of the largest commercial health insurers in New Mexico with approximately 700,000 New Mexicans carrying a Blue Cross and Blue Shield card. Since 1940, BCBSNM has been committed to promoting the health and wellness of its members and communities through accessible, cost-effective, quality health care. BCBSNM is a Division of Health Care Service Corporation, the country’s largest customer-owned health insurer and fourth largest health insurer overall. Health Care Service Corporation is a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association.