The premiums that physicians pay for medical malpractice insurance in the United States fell for the fifth consecutive year in 2012 for physicians in the following medical specialties: obstetrics/gynecology, general internists, and general surgeons. The medical malpractice insurance premiums for these three medical specialties decreased by an average of 1.7% in 2012. In 2011, the average decline in medical malpractice insurance premiums for these physicians was 0.2%. In 2010, the average decline was 0.5%. For 2009, it was 2.5%. And for 2008, the average decline in medical malpractice insurance premiums for these physicians was 4%.
For one group of insured physicians, the 2012 medical malpractice insurance premium rates remained the same for 59.2% when compared to 2011, 25.7% of the physicians experienced a decrease, and only 15.1% of the physicians experienced an increase in premiums paid in 2012. For internists, those in Miami-Dade County, Florida paid the highest medical malpractice insurance premium rate for a $1 million/$3 million policy ($47,731) and internists in Minnesota paid the lowest medical malpractice insurance premium rate for internists in the United States ($3,375). For obstetricians/gynecologists, the highest medical malpractice insurance premiums were paid in Nassau and Suffolk Counties on Long Island, New York ($204,684) and the lowest medical malpractice insurance premiums for obstetricians/gynecologists were paid in in mid-California ($15,484).
In 2012, general surgeons paid medical malpractice insurance rates from a high of $190,926 in Miami-Dade County Florida to a low of $11,306 in Minnesota.
What Are The Reasons For The Continuing Annual Reductions In Medical Malpractice Insurance Rates In The United States?
Well, for one thing, medical malpractice insurance companies continue, year-after-year, to reap huge profits from the medical malpractice insurance lines they sell, so do not feel sorry for them!
One explanation for the drop in medical malpractice insurance rates charged to doctors is that the medical claims per physician have dropped by approximately one-half in the last decade. (This does not mean that physicians are committing less medical malpractice now then in the past – it may be explained, in part, by the increasing number of U.S. states imposing limits on the amount of noneconomic damages that may be recovered by victims of medical malpractice, thereby making it more difficult to find a medical malpractice lawyer to handle a smaller medical malpractice claim due to the enormous expenses involved in bringing and litigating medical malpractice cases in those states that cap the amount that innocent medical malpractice victims and their families may recover from physicians and other medical providers who unbiased juries have determined to have been medically negligent and to have failed to conform to the applicable standards of care that their colleagues have established for their medical specialties). Notably, there has also been a decline in medical malpractice insurance rates in states without so-called tort reform.
Next time the physicians in your state instruct their high-paid lobbyists to try to convince the public (you) that limits on the amount of damages that innocent victims of medical malpractice may recover from medical providers who have been found to have provided negligent medical care that severely and permanently injured their patients, remember that the sky is not falling (physicians are not retiring from their medical practices or moving out of state because of the amount they pay for medical malpractice insurance and physicians who fear being held responsible for large medical malpractice verdicts against them should have nothing to fear if they consistently provide competent care that meets the minimum standards established by their profession) and that the vast majority of medical malpractice claims are meritorious and are not frivolous (medical malpractice lawyers do not knowingly file weak medical malpractice claims because of the amount of their time they devote and the money they must spend in advancing litigation costs when they represent medical malpractice claimants) – don’t let a wealthy, powerful minority of our citizens subvert your right to fair and adequate compensation when their failures, errors, or mistakes devastate your life and the lives of your family members forever.
If you are the victim of medical malpractice, you should promptly consult with a local medical malpractice attorney who may agree to investigate your possible medical malpractice claim for you and represent you in a medical malpractice case, if appropriate.
Click here to visit our website to be connected with medical malpractice lawyers in your state who may be able to assist you with your medical malpractice claim, or call us toll-free at 800-295-3959.
Turn to us when you don’t know where to turn.