Malpractice?

[ideas]

How much is malpractice generally running?

---

Members don't see this ad.

 

[sallyjoe]

It depends on where you are and how many years you have practiced.

If your state is a judicial cesspool it will be more, than if your state has passed tort reform and the tort reform has not yet been thrown out as unconstitutional.

Your rates will go up for your first few years in practice.
When you get sued your rates will go up and you will have less choices of insurance companies willing to cover you.

One thing to look out for is the cost of the Tail and who pays it. Many employers try to dump the cost of Tail insurance on you. Tail cost is equal to 2.5 to 3 years of insurance. I have been forced to buy a 30K tail policy. Most anesthesiologist leave their first job in less than two years so the cost of a tail is not irrelevant.

Another trap for the uninformed is Anesthesia groups providing offshore insurance. A policy from a Cayman Island insurance company is not worth the paper it is written on since when you get sued you will not be able to count on your Cayman Island insurance company accepting any responsibility to pay the claim or the cost of representation.

Insurance is a promise by a large corporation, just like the promise of a year end bonus by many anesthesia groups it is not a promise you can take to the bank. So it pays to protect your assets and to practice in a defensive manner as if you do not have insurance. Although you are paying the premiums, when you get sued your insurance company many not feel like honoring its promises. You will see this in all lines of insurance, when faced with a large payout an insurance company will seldom just write a check but will send out their lawyers and adjustors to treat you like a criminal and declare that your insurance claim is not valid so they have no obligation to pay.

 

[dr. mccoy]

How much is malpractice generally running?

I think anesthesia malpractice premiums are about the same as a gastroenterologist. As important as the specialty and years of that you practice, it also is affected by the state in which you practice. For example, states like California which have a cap on pain and suffering, usually have lesser premiums than states that do not.

 

[BSEMD]

I think anesthesia malpractice premiums are about the same as a gastroenterologist. As important as the specialty and years of that you practice, it also is affected by the state in which you practice. For example, states like California which have a cap on pain and suffering, usually have lesser premiums than states that do not.

Other than outright asking professionals in practice what they pay, where can people look to find information about malpractice premiums in their area? I, perhaps like the OP, wouldn't mind just seeing a dollar figure, regardless of how inaccurate it may be for my personal situation - especially since my personal situation still has years of medical school and residency ahead of me before I have to purchase coverage.

That said, anyone willing to offer up some dollar number for their region for, say, a recently-graduated anesthesiologist?

 

[denied]

That said, anyone willing to offer up some dollar number for their region for, say, a recently-graduated anesthesiologist?

Year 1 $7000
Year 2 $10000
Year 3 $12000
Then I started working locums for a two years. I was told by a locums agency they paid $100 to $150 to insure me for a 8 hour shift.
I am currently employed. I do not know the exact premiums but was told they are about $15000 per year.
I have not been sued or filed any claims. This is the Midwest but not IL.

from; http://depts.washington.edu/asaccp/prof/asa70_6_6_7.shtml

Although newspaper accounts of gasoline shortages and shocking gasoline prices have eclipsed reports of the medical malpractice crisis, concern continues over availability and cost of medical liability insurance in some states. Between 2002-04, average liability insurance premiums for anesthesiologists increased 33 percent, while the number of insurance carriers decreased.1 Premium increases were particularly striking when medical liability insurers withdrew from the market in the state.1 A variety of factors were implicated in the escalation in premium costs, including increased defense costs, changes in the insurance industry marketplace, declining investment income, withdrawal of competing insurance companies and volatile jury awards.2

In order to assess trends in liability insurance for anesthesiologists during the past year, the ASA Committee on Professional Liability conducted a survey of 31 medical liability insurance carriers. We collected data concerning premium amounts for a mature $1 million/$3 million policy limit in the various states and regions in which these carriers provide coverage. In addition we surveyed trends in premiums, moratoriums and comparative costs for specialists in pain medicine.

This year has been characterized by greater stability in medical liability premiums for anesthesiologists. The average premium in 2006 was $19,558 (range of $2,921 to $77,436), essentially the same as in 2005 [Figure]. Florida, Illinois, Michigan, Nevada, Ohio and West Virginia continue to lead the nation in average premium costs. About one-third of the liability insurers reduced 2006 premiums, one-third increased them and one-third did not change them significantly from 2005 premiums. These changes resulted in small decreases in average premiums in two-thirds of the states. In spite of the trends over the past several years, comparison with inflation-adjusted premiums from 19853 still shows a marked reduction in average premiums [Figure]. Improvements in patient safety in anesthesiology have been credited for these savings.