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Gov. Michelle Lujan Grisham announced Tuesday that New Mexico is expanding a loan repayment program to address a doctor shortage plaguing most of the state.

The move to grow the Health Professional Loan Repayment Program is the latest effort to address the shortage that has left 32 of the state鈥檚 33 counties with 鈥渃ritical gaps in care,鈥� a spokesperson for the governor said.

In March, Lujan Grisham signed into law medical malpractice legislation aimed at capping punitive damages in medical malpractice cases and increasing the legal threshold for punitive damages that can be awarded. The legislation is expected to reduce physician malpractice premiums by up to 16%.

Under the expanded program, licensed physicians will get $75,000 a year for student debt relief over a four-year service commitment, according to the Governor鈥檚 Office.

Previously, New Mexico鈥檚 awards for physicians were capped at $25,000 annually over three years, with the expansion representing a 200% increase in annual support for physicians who opt in.  

House Bill 66, the Health Care Professional Loan Fund that passed this year, also directs 50% of the program鈥檚 $25 million annual appropriation to licensed physicians. More than 25 other healthcare fields 鈥� like nursing and physical therapy 鈥� are also eligible for awards of up to $25,000 per year with a three-year commitment, the Governor鈥檚 Office said. 

鈥淓very New Mexican deserves access to the care they need, and today, we're putting $300,000 on the table for physicians who want to serve communities that need them most,鈥� Lujan Grisham said in a statement. 鈥淲e鈥檙e committed to cutting wait times, closing care gaps and making New Mexico the best place in America to practice medicine.鈥� 

The Governor鈥檚 Office said the program 鈥� 96% of its participants remain in New Mexico to practice 鈥� has grown 3,500% since 2019. Currently, 1,213 nurses, physicians and mental health counselors are receiving student debt relief. Lujan Grisham has committed $87.9 million to the program over her two terms. 

The expansion comes as New Mexico faces a critical shortage of more than 5,000 healthcare professionals. 

Nearly 40% of the state鈥檚 doctors are 60 or older and expected to retire by 2030, the Governor鈥檚 Office said, and a Legislative Finance Committee survey published earlier this year found that two-thirds of New Mexico physicians were considering leaving the state. 

In an email, Feliz Rael, president of the New Mexico Trial Lawyers Association, said the organization is 鈥�100% supportive of the governor鈥檚 plans to reduce student loan debt as a way to attract and retain more physicians.鈥� 

鈥淲e know there is a statewide physician shortage, which is a concern to everyone,鈥� Rael said. 鈥淐ompounding the issue is the continual influx of private equity firms buying up our hospitals and medical practices, which has physicians earning less in New Mexico than in our neighboring states and in other parts of the country.鈥�

State Rep. Christine Chandler, D-Los Alamos, one of the sponsors of the bill that helped expand the program, said she was pleased with the governor鈥檚 willingness to 鈥渨ork with us鈥� on the legislation. 

鈥淥bviously, the hope is (physicians will) realize what a wonderful place it is to practice and then stay,鈥� Chandler said. 鈥淭hat鈥檚 the goal.鈥�

Gregory R.C. Hasman covers the economy and healthcare. He can be reached at ghasman@abqjournal.com or 505-823-3820.