Source for Medical Malpractice Insurance Quotes for Doctors/Hospitals?
March 16, 2009 6:28 PM   Subscribe

Do you know of any reasonably credible sources that list the premiums and deductibles that hospitals/doctors (of any kind, but largely medical surgeons for intensive-care/emergency/surgical hospitals) pay for medical malpractice insurance? I'm researching figures for a malpractice reform idea.

The idea is based on a rumor that medical malpractice insurance is an absurdly burdensome expense for hospitals/doctors who must pay it in order to legitimately practice. If there were a way to eliminate that particular burden, the massive periodic (monthly/etc) savings would gradually equal lesser medical expenses for Billy and Susie down the line.

My idea was to eliminate the need for malpractice insurance by enacting legislation requiring the hospital in question to add the malpracticed-against as simply a new employee, paid out of the standard payroll expenses, at a comfort-offering rate (variable according to terms of the suit and local standards of living) instead of having to lop over this giant sum (and pay insurance for the dark cloud of a giant sum to loom over them, waiting to be dished out). Does this idea hold much water?
posted by Quarter Pincher to Work & Money (2 answers total)
 
I think you should first research how much malpractice premiums and lawsuit payouts actually contribute to healthcare costs. From what I've read, it's on the order of 0.5 - 2% of total healthcare costs. In other words, I don't believe the cost of premiums and lawsuit payouts are significant enough that any type of restructuring would result in appreciable cost savings.

What is likely to be more significant is the cost to the consumer for the actual medical errors that are made that require fixing, repeat surgeries, etc. Tom Baker put together a lot of stats for malpractice insurance costs vs malpractice medical costs in The Medical Malpractice Myth.
posted by junesix at 7:23 PM on March 16, 2009


I found actuarial data for my state by googling $statename malpractice insurance.

I think that the insurance companies you're looking at are large enough that they amortize out losses correctly.
posted by a robot made out of meat at 2:26 PM on March 18, 2009


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