Yes Virgnina, There is No Free Lunch.

Ted Frank posted this from via Kevin MD (which I could not find on his blog)…( I am quoting verbatim from his post, but check out his related coverage at Overlawyered)

A dose of reality

September 1 UPI interview with William Plested III, president of the American Medical Association (via Kevin MD):

Q: Ken Suggs, head of the Association of Trial Lawyers of America, recently told UPI that doctors and lawyers should stop fighting each other and unite against the medical malpractice insurance companies who keep hiking insurance premiums to push their profits higher. How would you respond?

A: Do you have any idea what happened with medical malpractice insurance? It's almost totally in the hands of doctor-owned companies; doctors who put together their finances to get a company to give them insurance, because the for-profit insurers all ran. There is no profit in this; (the insurers) left it. And people who are not out to make a profit, they're just out to protect doctors (via) their own insurance companies, they're the one who are left.

We posted about this same issue two years ago (here and here).  As I have said before, I can just picture the doctors sitting around a smoke filled room thinking about ways to charge themselves more for med mal coverage.  

 

September 1 UPI interview with William Plested III, president of the American Medical Association (via Kevin MD):

Q: Ken Suggs, head of the Association of Trial Lawyers of America, recently told UPI that doctors and lawyers should stop fighting each other and unite against the medical malpractice insurance companies who keep hiking insurance premiums to push their profits higher. How would you respond?

A: Do you have any idea what happened with medical malpractice insurance? It's almost totally in the hands of doctor-owned companies; doctors who put together their finances to get a company to give them insurance, because the for-profit insurers all ran. There is no profit in this; (the insurers) left it. And people who are not out to make a profit, they're just out to protect doctors (via) their own insurance companies, they're the one who are left.

We posted about this same issue two years ago (here and here).  As I have said before, I can just picture the doctors sitting around a smoke filled room thinking about ways to charge themselves more for med mal coverage.  

 

Comments

[Evan]

Thanks for that interesting insight RiskProf, I was unaware of the way that medical malpractice insurance was handled for doctors. This seems like something that is set in stone for a while, is that right?