“Tort reform can play a very significant role in how expensive it is for a physician to practice.....like Texas did in 2003, medical liability insurance rates can drop by as much as 40%.."
Chicago (PRWEB) March 30, 2010
As the United States' health reform debate winds to its legislative conclusion, one thing has become self-evident: our current system of healthcare is bloated and mired in complexity. One of the most vigorously debated methods of reducing the overall cost of healthcare has been tort reform and how it affects the medical professional liability insurance rates of physicians practicing in different states. MyMedicalMalpracticeInsurance.com, an online broker of medical malpractice insurance has teamed with Medical Liability Monitor to publish historic medical liability insurance rate data as a physician resource for each of the 50 states.
“Because each state has its own, unique historic claims data and varying levels of tort reform in its legislation, medical malpractice insurance rates can vary significantly from state to state,” said Michael Matray, editor of Medical Liability Monitor, the industry newsletter reporting on the medical professional liability insurance industry since 1975. “Tort reform can play a very significant role in how expensive it is for a physician to practice in a particular area. If you look at a state that passes airtight tort reform, like Texas did in 2003, medical liability insurance rates can drop by as much as 40 percent over the course of a few years.”
Medical Liability Monitor publishes an annual, state-by-state survey of the medical professional liability insurance base rates for every major medical malpractice insurance company in its special Rate Survey edition. MyMedicalMalpracticeInsurance.com negotiated with the widely respected newsletter to make available online the last 10 years of base rate data for physicians visiting its website.
"Visit MyMedicalMalpracticeInsurance.com and take a look at how rates have declined in Texas since 2003," Matray said. "Across the board, medical professional liability insurance premiums have reduced by an average of 28 percent, and new physician enrollment increased from 2,038 in 2002 to 3,621 in 2008. By reducing its malpractice costs, Texas has been able to improve its citizens' access to healthcare."
The dust is still settling around the nation's healthcare reform debate, and the lofty hopes many physicians hold for federal tort reform appear dashed, not likely to be rekindled for some time. Rather, these physicians should concentrate their activism around local, state reforms. The historic rate data available on MyMedicalMalpracticeInsurance.com allows physicians to compare their state to those with stronger reforms in legislation.
“We aim to be the online medical liability resource for today's physicians, and our partnership with Medical Liability Monitor positions us to be just that,” said Erik Leander, chief information officer for MyMedicalMalpracticeInsurance.com. “The historic rate data that we have posted on our website isn't available anywhere else on the internet. Doctors interested in viewing malpractice premiums in other states, or looking for a greater understanding of rate trends within their own state, can find that information at our website, free of charge. It's just one more thing that separates MyMedicalMalpracticeInsurance.com from other online brokers of medical liability insurance.”
Available, free of charge, historic rate data for all 50 states is available at:
MyMedicalMalpracticeInsurance.com is the premier online broker of medical professional liability insurance. With specialists for every state to help you meet your goals, and access to every medical professional liability insurer, we've shared our expert advice with thousands of healthcare providers, physicians and healthcare facilities.
About Medical Liability Monitor
Medical Liability Monitor, (MedicalLiabilityMonitor.com), is the only independent source of consistent, reliable coverage and fresh perspectives on the medical professional liability insurance market. The monthly, independent newsletter reports all the critical business happenings as well as political, legal and risk management issues that affect the healthcare industry. No other source offers the latest information on medical liability insurance premium rates and trends, tort reform, significant jury verdicts and what’s happening with professional liability insurers across the nation.