- Joined
- Oct 28, 2007
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- 36
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A while back I was flying and the person sitting next to me revealed he was a professional expert witness/consultant economist. His job was to help companies compute the litigation costs for a given product so they could include that in the cost of the product.
His neighbor, an OBG had asked him to do this for delivery of a baby. He told me the very least OB's should charge is 25,000 per baby if they followed the industry standards. He said the situation is so bad that OB's should unionize and demand higher reimbursement.
If you get two bad babies in your practice, it will cost you 20 million on the average, which is four times what you can plan to make. To make up for it, you would have to charge much higher costs.
He said the other alternative was for the federal govt to insure OB's. He said this would lead to tort reform nationally. He made me think soberly about the whole business.
His neighbor, an OBG had asked him to do this for delivery of a baby. He told me the very least OB's should charge is 25,000 per baby if they followed the industry standards. He said the situation is so bad that OB's should unionize and demand higher reimbursement.
If you get two bad babies in your practice, it will cost you 20 million on the average, which is four times what you can plan to make. To make up for it, you would have to charge much higher costs.
He said the other alternative was for the federal govt to insure OB's. He said this would lead to tort reform nationally. He made me think soberly about the whole business.