Skip to main content

Medical Malpractice Insurance Rate



The medical malpractice insurance rate has dramatically increased for the health care provider. This is due to a lot of things that have taken place in the world today. This includes money awarded to people who have been involved in a terrorist attack, economy sinking, and international hostilities. Amongst these factors, there has been a steady increase in the money juries awarded to plaintiffs who are placing claims of injury by a doctor who conducted a medical error.

Because of the medical malpractice insurance rate, there are some providers who have said they can't even afford to serve doctors. When this happened, at least forty thousand doctors in at least 45 states have been forced to look for insurance in other areas, by other providers.

Why Insurance Companies Feel They Can No Longer Accept Malpractice Insurance

One of the major problems with malpractice insurance is that lawyers and attorneys have raised their rates. Covering their services has become a major problem and forced providers of medical malpractice insurance rate to increase. Many of the jurors in trials want the plaintiff to be awarded one million dollars, and over the past it was more geared toward $650,000. This price went up at least thirty percent over just one year, and has contributed to the rise and fall of medical malpractice insurance rate problems.

Another major problem occurred a few years ago when a Philadelphia jury awarded over one hundred million dollars between four doctors and two hospitals for the birth of a premature baby. Even though some states have caps on how much money someone can receive for an injury, some jurors are awarding the plaintiffs double that amount.

The Bottom Line With Medical Malpractice Insurance Rate Situations

The bottom line is more people than ever before are seeking out legal recourse against the medical profession, and the jury is awarding huge sums of money to the plaintiff, even if there is a cap on the amount that can be received. This is making it more difficult to be able to pay these debts, especially with the world the way that it is today. Medical malpractice claims are not the only type of claims being made, but they are huge in comparison to some of the other claims.

We need to have a common sense of guidelines for the insurance providers to ensure that they can keep offering insurance to medical providers. Without the insurance companies, we are not protected from the wrong doings of the medical profession.

Labels

Labels:

Popular posts from this blog

There Is Little Chance That You Will Win That Medical Malpractice Law Suit

Out of the every five cases that make it to court, only one medical malpractice law suit comes out ahead. This is pretty bad odds by any standard. This happens because the strength of any medical malpractice law suit depends upon the ability of the medical malpractice attorney to put up the technical and non-technical medical terms in a simple and legible language both for the jury and the judge. It also depends upon the capacity of the medical malpractice attorney to gather the required information to back the case. It takes a lot of effort to prove the merits of a medical malpractice law suit and since it involves a lot of expenses, most of the people prefer to settle for out-of-court offers. It easier for the aggrieved person to accept an apology and a modest sum of compensation money, than spend his/her time and money pursuing justice in the court of law - that may never happen in the end. What It Takes To Improve The Chances To Win Your Medical Malpractice Law Suit The claimant ne...
Read more

Facing Confidentiality and Electronic Medical Records Concerns

With more and more hospitals employing the electronic medical record as their standard data collection, storage and retrieval system, there are those who are concerned with the risks in the confidentiality and electronic medical records system. The old way of doing things required a lot of paperwork. This meant more office space was allotted for record keeping. This usually meant a filing cabinet with a key as its main security defense against other people. The talk of confidentiality and electronic medical records keeping true to that sense is only a hype, or fluke. The concerns of confidentiality and electronic medical records falling into the wrong hands are grossly exaggerated. To put these concerns on confidentiality and electronic medical records intrusive capability, the software developers have added several security measures to insure that only those who need to know about your information get it and the information that the doctor is reading is really about you: * ...
Read more

Medical Billing Courses

First things are always first. Even though medical billing has been named one of the fastest growing occupations in the medical field industry, this doesn't mean that it's that easy to get into. Before you can call yourself a true professional in medical billing in every sense of the word, first you must learn the ins and the outs of your chosen profession. Fortunately, medical billing courses are not hard to find. Just log into any major search engine and type the words "medical billing courses" and you should be able to find a long list of online programs for medical billing training. The biggest aspect of medical billing courses and training consists of learning medical terminology, numerical codes to ensure proper financial reimbursement, and health care records management skills. Health care records management skills are especially an integral aspect of medical billing courses since a major part of the medical biller's job is to keep paperwork and payments fl...
Read more