Is there anyone out there besides me that is losing sleep over malpractice ins costs?

carn311

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The figures and horror stories I see online are well....horrifying.

Doctors writting text books, forced to abandon their practices and work a hospital (my own GP had to do this).

Is the average cost of malpractice insurance really somwhere around $25,000 a year?

If you work in a hospital do they provide you with coverage or does it come out of your salary?

Im not becoming a physician for the money...I'm just worried about my loans and my family. I'm sure theirs someone out there that is as shooken up as I am...right???...right???!! :scared:
 

AStudent

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25k per year.......out of 125,000 still puts you over the top buddy.
 

Ross434

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AStudent said:
25k per year.......out of 125,000 still puts you over the top buddy.
Malpractice comes out of physicians revenue. I think the average private family practice doc brings in like.. 400-450k.. and surgeons around 800k. 25 or 75 grand isnt going to matter much here. Yeah malprac costs are high, but its not killing physicians incomes.
 

Blue Scrub

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yeah avg doc salary runs close to 150k/year....minus your figure of malpractice (not sure of the avg for that)...still puts you way above the avg joe's salary

dont lose sleep over it now, lose sleep over it when you're going thru it! :D
 

Ross434

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That average salary you quoted is generally expressed as $ after net expenses. Most salaries you see posted out there are figured after malpractice has already been taken out
 

brats800

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i am sleeping fine at night. thanks for asking. :)
 

Blue Scrub

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Sweeet! :thumbup: That's cool, didnt know that...yeah so 150k after malpractice, even better than the avg joe's salary
 
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carn311

carn311

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Ross434 said:
That average salary you quoted is generally expressed as $ after net expenses. Most salaries you see posted out there are figured after malpractice has already been taken out
Your kidding...

Man is my prehealth advisor missinformed. Thanks a lot!

I look pretty greedy now heh? :)
 

Ross434

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carn311 said:
Your kidding...

Man is my prehealth advisor missinformed. Thanks a lot!

I look pretty greedy now heh? :)
Np. It seems to be a hot button issue. A lot of people are concerned. However, I think its only drastically affecting a select few individual practices or small group practices in certain states. If you are an employee, your malpractice is almost always covered by your employer.
 

pratik7

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carn311 said:
Doctors writting text books, forced to abandon their practices and work a hospital (my own GP had to do this)

I dont think that most doctors have to quit there practice bc of insurance cost. Doctors in private practice usually make more than those employed by the hospital. However, they also work longer hours and being self employed is more stressful. As a result, GP docs are quitting there practice and are seeking employment at a hospital because the large margin that existed between private and employed practice is decreasing. I just isnt worth the time and effort to some docs to be in private practice for an extra 20,000 bucks a year
 

Ross434

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pratik7 said:
I dont think that most doctors have to quit there practice bc of insurance cost. Doctors in private practice usually make more than those employed by the hospital. However, they also work longer hours and being self employed is more stressful. As a result, GP docs are quitting there practice and are seeking employment at a hospital because the large margin that existed between private and employed practice is decreasing. I just isnt worth the time and effort to some docs to be in private practice for an extra 20,000 bucks a year
Im aware of a pretty large margin between private practice and hospital.. For example. they only pay ortho surgeons here in employed HMO practices about 250k... whereas 400 is more the norm in private groups.