January 2006

MD malpractice rates highest in Miami

How much do you pay for your malpractice insurance? Most assuredly it is not what medical doctors in Miami pay. According to a survey taken by Medical Economics (ME)magazine, internists pay a high of $74,855.

General surgeons and OB/GYNs have it even worse: They pay $299,420 a year.

The lowest rates in the country for medical doctors are in Minnesota, where the lowest rate for internists was $3,375 and $11,306 for general surgeons. Nebraska had the lowest rates for OB/GYNs at $17,144.

ME reported that liability rates are leveling off and future increases are likely to be more moderate.

The improvement in medical malpractice rates is attributed to more competition, because more companies have entered the arena; and tort reform laws, which have capped noneconomic damages in several states.

Source: Medical Economics, www.memag.com

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