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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 61157  
Subject: Re: Health Care: We're missing the big picture, Date: 7/11/2007 11:57 PM
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ziggy29 writes,

I'm sorry, but no matter how you slice it, a 21.3% decline in malpractice premiums IS a significant drop in medical costs. I'll admit that the group quoted isn't unbiased, but the fact remains that Texas can't handle the number of doctors coming here because of tort reform.


Malpractice insurance premiums accounted for 0.58% of the nation's healthcare spending in 2002, while the actual claims paid out to patients (and their lawyers) were 0.38% of national healthcare spending. The total is less than 1%.

http://www.insurance-reform.org/pr/AIRhealthcosts.pdf

Despite what Rush Limbaugh, the Heritage Foundation, and the Cato Institute tell you, medical malpractice is "lost in the round-off" in terms of the nation's healthcare spending.

Interestingly, the insurance industry enjoys higher overheads & profit on malpractice insurance than it collects on health insurance ($58 premiums against $38 in claims & payouts = overhead rate of 34%.

I suspect malpractice insurance would also greatly benefit from the removal of private insurers from the equation.

intercst
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