Rising Liability Insurance Rates Hurt Family Practices

Rising Liability Insurance Rates Hurt Family Practices



Rising Liability Insurance Rates Hurt Family Practices
It is​ becoming increasingly difficult for family practice physicians to​ even obtain medical liability insurance let alone afford it. More and more insurance companies are deciding not to​ underwrite any medical liability insurance. Literally,​ in​ most states there are only few who will offer it. the​ increasing rate of​ malpractice lawsuits is​ to​ blame for this. Juries are awarding multi million dollar settlements and it​ is​ forcing many doctors to​ close the​ doors on​ their family practices.
The problem is​ concurrent with other problems; doctor a​ closes his family practice so all of​ the​ patients rush to​ doctor B,​ now Dr. B is​ on​ overload and his patients are unhappy because of​ lengthy wait times and the​ vicious cycle continues. it​ has already been obvious as​ most family practices no longer deliver babies due to​ the​ ever rising costs of​ OB insurance. Also,​ most have stopped performing any surgical procedures because they simply can not afford the​ insurance premiums.
This does not work like auto insurance either,​ regardless if​ a​ doctor has had a​ malpractice lawsuit against him or​ not,​ the​ premiums remain the​ same as​ well as​ whether or​ not the​ carrier will even write the​ policy. This is​ certainly posing a​ problem for family practice doctors or​ doctors in​ general who have to​ limit the​ scope of​ their services. Doctors are literally becoming afraid of​ assisting high risk patients because of​ the​ consequences and ramifications that could follow.
If something does not change soon what will happen is​ people will not be able to​ get health care when it​ is​ most needed and it​ is​ due to​ two factors availability of​ liability insurance and affordability. Another result from this is​ that most family practices who were always about to​ receive discount health insurance reimbursements such as​ Medicaid and such,​ no longer can because they can not simply afford to. Liability insurance companies simply claim that there is​ zero stability in​ the​ market of​ liability insurance due to​ the​ puerile lawsuits and the​ astronomical awards that juries are handing out.
This is​ causing family practices and doctors everywhere to​ watch every move that they make to​ avoid being sued. it​ is​ further raising medical costs because a​ doctor is​ running countless and sometimes unnecessary tests to​ ensure his medical security. All of​ these possible unneeded tests take money away from those who really need medical treatment. Now guess who ends up having to​ foot the​ bill for all of​ this? the​ government and the​ taxpayers.
Then,​ this process affects employers because they no longer want to​ provide employee insurance or​ cut the​ insurance that they do offer because rates climb so high that they can not afford it​ either. the​ only foreseeable way to​ get the​ system back on​ track is​ to​ begin with eliminating the​ numerous amounts of​ petty lawsuits. Beginning with this will perhaps get the​ system back on​ track and instill some validity back into America hence,​ achieving the​ ultimate goal which is​ to​ provide everyone with quality health care and instill the​ values of​ family practice.




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