My Medical Malpractice Insurance

March 30, 2010

History of Medical Malpractice Insurance Rates

Filed under: Alabama Medical Malpractice Insurance, Alaska Medical Malpractice Insurance, Arizona Medical Malpractice Insurance, Arkansas Medical Malpractice Insurance, California Medical Malpractice Insurance, Colorado Medical Malpractice Insurance, Congress, Connecticut Medical Malpractice Insurance, Delaware Medical Malpractice Insurance, District of Columbia Medical Malpractice Insurance, Florida Medical Malpractice Insurance, Georgia Medical Malpractice Insurance, Hawaii Medical Malpractice Insurance, Idaho Medical Malpractice Insurance, Illinois Medical Malpractice Insurance, Indiana Medical Malpractice Insurance, Insurance, Iowa Medical Malpractice Insurance, Kansas Medical Malpractice Insurance, Kentucky Medical Malpractice Insurance, Louisiana Medical Malpractice Insurance, Maine Medical Malpractice Insurance, Maryland Medical Malpractice Insurance, Massachusetts Medical Malpractice Insurance, Michigan Medical Malpractice Insurance, Minnesota Medical Malpractice Insurance, Mississippi Medical Malpractice Insurance, Missouri Medical Malpractice Insurance, Montana Medical Malpractice Insurance, Nebraska Medical Malpractice Insurance, Nevada Medical Malpractice Insurance, New Hampshire Medical Malpractice Insurance, New Jersey Medical Malpractice Insurance, New Mexico Medical Malpractice Insurance, New York Medical Malpractice Insurance, North Carolina Medical Malpractice Insurance, North Dakota Medical Malpractice Insurance, Ohio Medical Malpractice Insurance, Oklahoma Medical Malpractice Insurance, Oregon Medical Malpractice Insurance, Pennsylvania Medical Malpractice Insurance, Physicians, President Barack Obama, Rhode Island Medical Malpractice Insurance, South Carolina Medical Malpractice Insurance, South Dakota Medical Malpractice Insurance, Tennessee Medical Malpractice Insurance, Texas Medical Malpractice Insurance, Tort Reform, Utah Medical Malpractice Insurance, Vermont Medical Malpractice Insurance, Virginia Medical Malpractice Insurance, Washington State Medical Malpractice Insurance, West Virginia Medical Malpractice Insurance, Wisconsin Medical Malpractice Insurance, Wyoming Medical Malpractice Insurance, ob/gyn — admin @ 1:38 pm

We are pleased to announce that MyMedicalMalpracticeInsurance.com is the only place on the Internet to see how much physicians are paying for their medical malpractice insurance. The unique part of this is that we have data that goes back to the year 2000. Want to know if Tort Reform actually lowered rates in Texas when it passed in 2003? If it did lower it, how long did it take for premiums to go down?

This will also allow physicians to decide which state and then county they want to setup their practice. We know that liability insurance costs are one of the most expensive parts of running a practice. This is just another way we separate ourselves from our competition.

Medical Malpractice Insurance Rates for every state.

Staff
MyMedicalMalpracticeInsurance.com

March 25, 2010

Missouri High Court Narrows Medical Malpractice Limits

side note: Here is one more result from the flurry of tort challenges that have been appearing before state courts. The Missouri Supreme Court joins the high courts in Texas, Illinois and Georgia to have ruled on tort cases in 2010.

The Missouri Supreme Court has slightly narrowed the scope of a 2005 state law limiting how much money can be awarded to people in medical malpractice cases.

The high court’s March 23 ruling provided a victory for those injured before the law took effect. But the court’s majority avoided the broader issue of whether the lawsuit limits are a violation of other constitutional rights.

The 2005 “tort reform” law was a priority of then-Gov. Matt Blunt and the Republican-led Legislature. They said it was needed to hold down liability insurance premiums for doctors, thus ensuring that health care was available and affordable for Missouri residents.

One of the law’s main provisions lowered the cap for non-economic damages such as pain and suffering in medical malpractice cases to a flat $350,000 per lawsuit, effective for any case filed after Aug. 28, 2005. Missouri’s previous limit of $579,000 had been adjusted annually for inflation and had been interpreted by courts to apply to multiple parties in a lawsuit.

At issue was the case of James and Mary Klotz of suburban St. Louis. Their 2006 lawsuit alleged that James Klotz contracted a staph infection – which led to other health problems – when a pacemaker was implanted in March 2004.

A jury awarded James Klotz more than $2 million and Mary Klotz more than $500,000, with non-economic damages comprising more than half their combined total. But a trial judge reduced James Klotz’s non-economic damages to the cap imposed by the 2005 law and eliminated them for Mary Klotz because the 2005 law required that they be counted under her husband’s total.

The Supreme Court said the Missouri Constitution’s prohibition on retroactive laws means those new limits cannot be applied to the Klotzes, nor to anyone else whose injuries occurred before the 2005 law took effect.
(more…)

March 24, 2010

Texas Supreme Court Upholds Malpractice Reform Law

side note: On the surface, this looks like a harsh ruling, but it does affirm the bulletproof nature of Texas’ tort reforms. Many states would like to see their tort reforms stand up to this kind of scrutiny.

Patients in Texas must file malpractice claims within 10 years of when an alleged negligence occurred and within 2 years of discovering an injury, according to a pair of unanimous decisions handed down by the state supreme court last week.

Both rulings involved cases of surgical sponges being left behind in patients’ bodies and centered on Texas’ Open Court Provision, which declares a 10-year last-chance deadline for all malpractice cases and establishes a 2-year statue of limitations on malpractice lawsuits.

In Walters v. Cleveland Regional Medical Center, Shirley Kiefer, and Keith Spooner, MD, the supreme court ruled in favor of Tangie Walters — who learned she had a sponge lodged against her small intestine 9-and-a-half years after undergoing a tubal ligation procedure — because she filed suit 2 months after the sponge was discovered.
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March 17, 2010

e-prescriptions reduce errors, decrease rate of medical malpractice

side note: Here is one of the many benefits to adopting electronic health records and embracing technology as the country moves forward with healthcare.

NEW YORK (Reuters Health) – Doctors who trade in their prescription pads for electronic prescribing systems may be able to significantly cut down on medication errors, a small study suggests.

Researchers found that among 12 New York State primary care practices, the six that had adopted “e-prescribing” systems reduced their prescribing errors by nearly seven-fold over one year. Errors included mistakes like giving patients the wrong dose, wrong duration of use or incorrect or missing usage directions.

Electronic prescribing has been widely seen as a way to improve efficiency, save money and cut medication errors, such as cases where a pharmacy dispenses the wrong drug due to a doctor’s illegible handwriting. The systems also typically provide doctors with a drug’s allergy warnings, potential for interacting with other medications and other information that could help prevent adverse effects.

President Barack Obama has promoted greater use of e-prescribing and electronic patient records as part of healthcare reform, and the economic stimulus package passed last year included funds to encourage more doctors to adopt e-prescribing — which as of 2009, only an estimated 13 percent of U.S. doctors had done.

But it is unclear how the commercially available e-prescribing systems have so far performed in the real world, in solo and small-group medical practices, according to the researchers on the new study, led by Dr. Rainu Kaushal of Weill Cornell Medical College in New York City.

To study the question, the researchers focused on a dozen small practices in a largely suburban and rural area of New York. According to their report in the Journal of General Internal Medicine, half of the practices adopted e-prescribing systems, while the other six stayed with paper prescribing.

Kaushal’s team found that over one year, the e-prescribing practices cut their average prescribing error rate from 42.5 per 100 prescriptions to 6.6 for every 100 prescriptions.

In contrast, practices that stayed with paper saw their error rate remain nearly the same; at the outset, about 37 percent of prescriptions contained an error, and one year later that figure was 38 percent.
(more…)

March 15, 2010

Georgia Supreme Court Upholds ER statute of medical malpractice tort reform

side note: here is a substantial win for the “gross negligence rule” that many state’s tort reforms now include.

The Georgia Supreme Court on Monday upheld a key provision of the state’s tort reform law that makes it more far more difficult for patients to win damages in cases involving emergency room care.

In a 4-3 decision, the court ruled in a challenge brought by a woman who went to the emergency room in Columbus complaining of serious pain behind her eyes. She said a doctor sent her away with a prescription and failed to diagnose her real, disabling illness.

Under the tort reform law enacted in 2005, a plaintiff must establish by “clear and convincing evidence” that an ER doctor committed “gross negligence” to prevail in a lawsuit.

Justice George Carley, writing for the majority, noted the law was enacted amid the medical industry’s claims that medical malpractice insurance rates were soaring.
(more…)

March 8, 2010

Medical malpractice insurance market expected to soften

side note: Wow! I found this to be a surprise. Even with the investment sector still moving in relative chaos, the highly respected Standard & Poor’s Rating Service is forecasting a continued soft market for medical liability insurance. What does this do to the argument that medical malpractice insurance rates are climbing unchecked through the roof?

The medical malpractice insurance market appears likely to soften more, as insurers continue to battle what one ratings service calls “significant challenges.”

Standard & Poor’s Ratings Service is forecasting that the market will continue to soften as prices declined at a more moderate pace.

The ratings service notes that medical malpractice insurance writers apparently achieved better operating results in 2008 and through the first nine months of 2009 than it had forecast two years ago because of
larger-than-expected favorable reserve development.

“Even without the ups and downs of the pricing cycle, medical malpracticeinsurers face significant challenges, including volatile losses, the long-tail nature of the reserves and exposures, and the potential for adverse legal verdicts,” Standard & Poor’s said in a statement. “We have only seen a handful of insurers sustain profitability throughout pricing cycles, and they have generally been the larger, more diversified insurers in a highly fragmented industry.”

The ratings service said it expects many medical malpractice monoline companies to ultimately report a stable or improved combined ratio for 2009, mainly because of reserve releases, a trend it anticipates will continue through 2010 and mitigate the expected decline in prices.
(more…)

March 4, 2010

Healthcare Bill being pushed by White House to be passed by Easter?

President Obama has made a clear and concise statement to the leadership in both Chambers that he wants to get his bill passed ASAP.

After scouring blogs on the right, left and middle….it doesn’t appear that the President will have enough votes to get this done. Politics however, can change in a moments notice. We know that deals are being made behind closed doors….so it’ll be interesting to see if the President has enough in his back pocket to dangle in front of conservaDems and Republicans.

Will the hard-working physicians in this country get what they want in this bill? They desperately need protection from the trial lawyers who come after them with such frivolous lawsuits. We need to lower the rates of medical malpractice insurance so docs can get back to doing what they do best: practicing medicine and helping their patients.

March 2, 2010

President Obama will consider 4 GOP lawmaker options on Health Care

President Barack Obama has decided to take 4 Republican ideas and move forward to try and find some common ground and get something done with the proposed health care bill. The four ideas are:

1. Going after fraud by using undercover patients.
2. Putting more money back into the pockets of physicians that take medicare patients…..basically increasing medicare payment rates.
3. Issuing grants to states to limit med-mal lawsuits.
4. Expanding HSA’s in conjunction with high-deductible insurance policies.

I think that the President is offering this gesture, which will almost certainly be shot down by the Republican leadership, because it allows him to say “Hey, I tried to work with GOP leaders, but they wouldn’t work with me, even when I offered to include some of their very own ideas in the health care bill.”

We home that the President also listens to physicians and makes sure that they don’t get the short end of the stick when the final bill is released. We need physician advocate groups such as SERMO and Docs4PatientCare to be heard on The Hill, and these politicians to realize that the best people to ask on how to help fix our health care problems in this country is to call upon the one group that is in the trenches every single day: Physicians.

You can read the President’s press release here.

As usual…..I end this post urging all physicians to request a free medical liability insurance quote. There have been too many instances in the past where we’ve seen brokers “say” they have access to multiple insurance companies…but actually do not. MyMedicalMalpracticeInsurance.com has access to
EVERY
single insurance company in the nation. Our brokers have been helping physicians and other health care professionals find the lowest rates, with the best terms for over 35 years.

March 1, 2010

New Study: Physicians average hours have dropped

A new study that appeared recently in the Journal of the American Medical Associated shows that doctors have been consistently shedding hours from their work week. The average hours dropped from 55 to 51 between 1996 and 2008. The drop in average hours equals losing 36,000 doctors in a decade.

Studies like these have to be taken seriously especially as the Boomers continue to retire. We know from previous reports that there is a serious doctor shortage looming. This is why we here at MyMedicalMalpracticeInsurance.com were so bothered by the 21% Medicare cuts. What is the federal government thinking? Will this force physicians to stop accepting Medicare patients? I think that answer is across the board. If your practice relies heavily on Medicare patients……then probably not. If it’s a small percentage, then yes, I see that as a strong possibility.

Some the reasons we think there has been a drop in the average amount of hours worked:

1. Being hassled by patients…..we feel that doctors in America have become undervalued, and people have started treating them that way.
2. In high risk specialties, the risk of lawsuits has gone up…..which means your medical malpractice insurance costs go up. (a quick side note, make sure you’re not paying too much for your liability insurance, there are a lot of brokers who don’t have access to all the insurance companies, which in turn inhibits you from finding the best, most cost effective solution: request a free professional medical liability quote.)
3. Physicians want “a life”. I think they’d rather go home at 5 or 6pm then stay till 8 or 9. They have families, and like everyone else, they want to be an active part.
4. Amounts dropping for reimbursements….and costs increasing.
5. Politicians have demonized doctors for their own gain and agenda…..

The strangest thing about this study, and the general buzz around it is the drop to 51 working hours a week. 51! Most people would be screaming if they had to work 51 hours a week……we need to get back to the days when such an important part of our society was not taken for granted. Maybe when people can’t make an appointment with a physician…maybe then we’ll see an about-face in attitude.

Sen. Dick Durbin on medical malpractice reform at White House health summit

side note: Here is insight on the medical malpractice debate from the second most powerful member of the Senate majority party.

DURBIN: Mr. President, I’ve been biding my time throughout this entire meeting. I thank you for inviting us on the issue of medical malpractice. Before I was elected to Congress, I worked in a courtroom. For years, I defended doctors and hospitals, and for years I sued them on behalf of people who were victims of medical malpractice. So I’ve sat at both tables in a courtroom. At least many years ago, I think I kind of understood this area of the law better than some.

But I listen time and again as our friends on the other side when they’re asked what are the most important things you can do when it comes to our health care system in America. The first thing they say is medical malpractice. It’s the first thing they say. Today, it was the first thing that was said.

The point that’s been made by the president is if we do believe the Congressional Budget Office, when Orrin Hatch asked them how much will we save if we implement the Republican plan on medical malpractice from the House, they said $54 billion over 10 years; $5.4 billion a year is a lot of money, except in the context of the $2.5 trillion bill that we pay each year for health care. It represents one-fifth of 1 percent of the amount of money we spend each year on health care.

The Congressional Budget Office said something else. They said and as you lose accountability for what the doctors and hospitals are doing, more people will die — 4,800 a year, according to the Congressional Budget Office’s reference to this study.
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