Interesting...rising medical costs not due to malpractice payouts

[cute fuzzy bunny]

http://www.boston.com/yourlife/heal...g_doctors_premiums_not_due_to_lawsuit_awards/

Yes, another 'study'. Havent looked at their methodology or results.

They claim insurance payouts are not going up, but that insurers are raising rates to cover their declining investment returns.

 

[Cut-Throat]

Bush 43 was trying to Blame Medical Costs going up because of 'Trial Lawyers' and Malpractice suits. The truth was otherwise.

Insurance Companies are making record profits.

 

[cute fuzzy bunny]

apparently there are a range of studies, all with completely contradicting results. They all look like blatant hooey to me. Every one was paid for by someone with an axe to grind and their axe miraculously got ground to suit them.

In other words, nobody knows. But I can say for sure that almost everyone in the loop from the doctors to the lawyers to the insurance companies all made more than the average joe last year...

 

[JohnP]

In Ohio, our legislature capped malpractice ins awards at $250,000 three years ago in response to the so-called malpractice award problem.  Since then malpractice insurance for Doctors has continued to increase at record rates in Ohio.  This gets little attention here, except from the doctors who have no one to blame but the malpractice Ins Cos - but who you gonna call... 

Malpractice suits are and were a small part of the problem.  As I recall, the malpractice ins industry collects premiums of approx $10 Billion per year in a $2,500-3,500  Billion per year industry component in the US - how significant can that component be?

JohnP 

 

[Dawg52]

Bush  43 was trying to Blame Medical Costs going up because of 'Trial Lawyers' and Malpractice suits. The truth was otherwise.

Insurance Companies are making record profits.

BC/BS of Mississippi actually reduced premiums(5%) on individual policies for 2005 due to record profits. Probably just a p/r thing as they have been rasing rates anywhere from 15-25% per year for the last 5 years on our company group plan. I actually had a BC rep tell me that poor investment returns was the main reason for all the increases. 

 

[unclemick]

Sooo - the real problem is the docters cost of premiums -
passed on to you -
da customer?

 

[windsurf]

Most hospitals are self-insured for the first several million dollars of a claim with excess insurance to cover the hugest verdicts. I am aware of some instances where the hospital has been totally self-insured. In Ohio and many other states, hospitals are named in suits under a vicarious liability theory; i.e. no hospital employee was at fault but rather the independent contractor docs whom the paitient encounters at the hospital "look" like employees, so, the hospital is sued into the case for the sake of its additional deep pocket and potentially held responsible for the errant doc. This is a cost passed onto consumers somewhat independent of the controversey over malpractice premiums.

 

[cute fuzzy bunny]

I've got the solution. We all go to the hospital, find something they do wrong during our visit, sue them, take their self insurance money, and use that to pay the exhorbitant insurance rates for the remainder of our lives.

Who's first?

 

[MJ]

What's on second?

 

[HFWR]

I don't know... third base.

 

[Spanky]

I've got the solution. We all go to the hospital, find something they do wrong during our visit, sue them, take their self insurance money, and use that to pay the exhorbitant insurance rates for the remainder of our lives.

Who's first?

Seems to be a "prudent and radical" idea.

 

[Spanky]

Rising medical costs are attributed by many factors: prescription drugs, hospitial facility expansion, government mandates (e.g., to provide care for the poor), poor Lifestyle choices and cost unconscious consumers (with insurance) since they are only paying a fraction of the cost.

 

[moghopper]

From Kiplinger:
http://www.kiplingerforecasts.com/a...costs_of_imaging_tests_spur_restrictions.html

Get the PICTURE?

The zooming costs of diagnostic imaging are a growing concern. Bills for MRIs and other such tests will top $100 billion in 2005. Some employers and insurers want physicians to think twice before ordering costly scans. Requiring standards for doctors, radiologists and imaging facilities can also save money. Repeat scans required because of testing mistakes are one big cause of inflated bills.

 

[LEX]

th:

Playing the litigation lottery can be profitable, but it is seldom fun....

 

[sgeeeee]

th:

Playing the litigation lottery can be profitable, but it is seldom fun....

Yeah. You have to decide how much it is worth to you not to have to spend months or years of your life with lawyers and court dates . . . no offence, Martha.

 

[cute fuzzy bunny]

I was just KIDDING. I keed...I keed.

Apparently all y'all have forgotten that my moments of seriosity are few and far between. Time to apply SG's smiley philosophy...