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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019
| Contributor Information
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
When it comes to being sued by a patient, the question isn't "if" but "when," say many physicians. While malpractice coverage is a must, premiums vary by location and specialty, with surgeons and ob/gyns usually paying the most because of the high-risk nature of potential outcomes.
We received responses from more than 4300 physicians regarding how much they pay to protect themselves in the event of a lawsuit and how they feel about those premiums.
(Medscape is presenting the average of data collected through this year's report. Malpractice premium pricing depends on a variety of factors. This information should not be used for competitive shopping for malpractice coverage. Label values in charts are rounded, but rankings and calculations are based on raw data to avoid rounding errors.)
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
Nearly all physicians, both employed and self-employed, have insurance to protect them against lawsuits.
"Although it is ill-advised to go without insurance, some physicians may not feel the need to obtain malpractice coverage," says Dan Cavanaugh, vice president of membership development for the Cooperative of American Physicians, Inc., a medical malpractice insurer in California. Physicians without insurance can range from doctors employed or contracted as medical directors, with no direct role in patient care, to some physicians in lower-risk fields and settings like psychoanalysis, acupuncture, and med spas, he said.
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
Nearly 90% of employed physicians do not pay for their own malpractice coverage. Only a small percentage fund their insurance in part or in full out-of-pocket (6% each).
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
A large number of physicians (93%) did not purchase additional coverage outside of their employer's plan. Of those who did, more than twice as many physicians did so voluntarily versus being required by their employer to do so.
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
Specialists pay significantly more than primary care physicians in annual malpractice premiums. Almost two-fifths (37%) of self-employed physicians say they do not know how much they pay. Similarly, among employees who pay for all or part of their insurance, 43% do not know how much they pay.
"One of the tradeoffs of being employed is not always having the freedom to choose between multiple malpractice coverage options," says Cavanaugh. "If a physician is not making the buying decision, they may be unaware of the costs."
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
"Patients think large payouts will improve outcomes for others." –Internist
"Patients don't want to accept that bad things can happen without someone to blame." –Anesthesiologist
"Poor relationships between the patient and the 'target' of their anger, and disappointment in outcomes." –Urologist
"Lack of communication; the patient feels betrayed by the surgeon." –Orthopedic surgeon
"There is literally no other way for patients injured in any fashion to be compensated for their additional costs, pain, and suffering." –Internist
"Because they can." –Emergency medicine physician
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
Due to the high-risk nature of their work, ob/gyns and specialized surgeons have correspondingly larger premiums.
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
Overall, about half (51%) of physicians feel that their annual malpractice premiums are reasonable for their specialty. One quarter think they are not reasonable, and a similar amount are unsure. Among specialists, psychiatrists, oncologists, and anesthesiologists were most likely to say that the premiums are reasonable. Ob/Gyn and women's health physicians, general surgeons, and neurologists were least likely.
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
Among physicians who pay for their own malpractice insurance, owners in group practices pay the most, followed closely by partners. Independent contractors and employees pay the least, according to our findings.
Cavanaugh says group owners "generally have greater assets than the physicians they employ," and many pay higher premiums to obtain increased coverage limits to protect their assets.
"Owners of group practices also have vicarious liability for the actions of the physicians they employ," he adds. "Therefore, they are more likely to be named in lawsuits, even when they had no direct role in the patient's care."
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
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Medscape Malpractice Premium Report 2019
Keith L. Martin | December 4, 2019 | Contributor Information
More than 4300 physicians told us whether they'd been sued, what led to the lawsuit, what the experience was like for them, and whether the verdict was fair.Medscape Features Slideshows, November 2019
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Comments on Medscape are moderated and should be professional in tone and on topic. You must declare any conflicts of interest related to your comments and responses. Please see our Commenting Guide for further information. We reserve the right to remove posts at our sole discretion.
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Keith L. Martin
Editorial Director
Medscape Business of Medicine
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