malpractice insurance in Florida

[Ahamis]

Why is malpractice insurance so expensive in Florida compared to other states? I know many states don't have a friendly legislation for malpractice against doctors. Is there anything in particular that makes Florida premium be so expensive?

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[masterofmonkeys]

I'm not sure but it may relate to the fact that Florida has some weird things where all docs help cover the cost of OB malpractice insurance.

 

[sweetlenovo88]

A lot of litigation here so premiums are higher, especially in S. Florida

 

[PistolPete]

Maybe it has something to do with the face that South Florida is the Medicare Fraud capital of the US?

 

[TexasPhysician]

Poor legislation that is very pro-attorney, anti-physician. One of the least physician friendly states if not last.

 

[PistolPete]

Agree with @TexasPhysician . Look into the whole "3 strike" rule, @Ahamis .

 

[Psychotic]

What other states are like, or are as bad, as Florida in terms of the cost of malpractice insurance?

Conversely, what are the "best" states for doctors, specifically psychiatrists?

 

[F0nzie]

What other states are like, or are as bad, as Florida in terms of the cost of malpractice insurance?

Conversely, what are the "best" states for doctors, specifically psychiatrists?

There may be a variety of factors. Check out states with Malpractice caps. I believe Texas has a 250k cap.


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[TexasPhysician]

What other states are like, or are as bad, as Florida in terms of the cost of malpractice insurance?

Conversely, what are the "best" states for doctors, specifically psychiatrists?

There are websites that rank physician friendliness. Try google.

Idaho always ranks high even without malpractice caps. The culture in Idaho is certainly different than Florida.

Also consider calling The Doctor's Company and asking about rates in different areas. I feel like they are one of the better malpractice companies.

 

[MLT2MT2DO]

There are websites that rank physician friendliness. Try google.

Idaho always ranks high even without malpractice caps. The culture in Idaho is certainly different than Florida.

Also consider calling The Doctor's Company and asking about rates in different areas. I feel like they are one of the better malpractice companies.

Idaho actually does have a cap of 400k. You're right that the culture isn't really geared towards litgation, though it has drastically changed in the mid 2000s with a large Californian influx due to the housing bubble. Even still most of the litgation isn't medical, and there doesn't seem to be any lawyers that are overly interested in cases without GROSS negligence.

On the flip side Florida is the synthetic opiate capital of the world. It has a large population that ends up with debilitating injuries even do to minor misteps in treatment (the elderly). Some of the sketchiest practitioners work there, along with some of the sketchiest attorneys. It was not odd to watch a television commercial break and not see 2 to 3 attorney commercials in Florida most usually pointed towards medicine.


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[AcronymAllergy]

Idaho actually does have a cap of 400k. You're right that the culture isn't really geared towards litgation, though it has drastically changed in the mid 2000s with a large Californian influx due to the housing bubble. Even still most of the litgation isn't medical, and there doesn't seem to be any lawyers that are overly interested in cases without GROSS negligence.

On the flip side Florida is the synthetic opiate capital of the world. It has a large population that ends up with debilitating injuries even do to minor misteps in treatment (the elderly). Some of the sketchiest practitioners work there, along with some of the sketchiest attorneys. It was not odd to watch a television commercial break and not see 2 to 3 attorney commercials in Florida most usually pointed towards medicine.


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Medical malpractice and personal injury, yep. As you've said, at least 2-3 per commercial break, usually more. Lots of SSDI, workman's comp, and related attorney ads as well.

 

[nexus73]

Florida sucks

 

[Blitz2006]

Not sure how legitimate this is but, ranking of all 50 states:

2017’s Best & Worst States for Doctors

"Based on this analysis of each state's compensation rates, litigiousness, patient population size and medical board sanctions, South Carolina, Minnesota and Texas secured the top three respective states to practice, while Oregon, New Jersey and Rhode Island rounded out the bottom."

 

[Gavanshir]

Florida is also one of the few states where you are not required to carry malpractice insurance. In fact, MANY physicians do not carry it which significantly decreases the incentive for junk litigation.

 

[PistolPete]

Florida is also one of the few states where you are not required to carry malpractice insurance. In fact, MANY physicians do not carry it which significantly decreases the incentive for junk litigation.

Except God forbid when you are actually medically negligent, then are royally SCREWED.

 

[Gavanshir]

Except God forbid when you are actually medically negligent, then are royally SCREWED.

Hmm not really. I mean if you deserve to have your license suspended by the board, then yes, but financially speaking and from a litigation perspective, as long as your assets are protected, most trial lawyers will not even accept the case if the physician doesn't have insurance because they know they are not going to be able to collect.

 

[PistolPete]

Hmm not really. I mean if you deserve to have your license suspended by the board, then yes, but financially speaking and from a litigation perspective, as long as your assets are protected, most trial lawyers will not even accept the case if the physician doesn't have insurance because they know they are not going to be able to collect.

If you get a $10 million judgement against you, for example, they will simply garnish your future earnings for the next 10-20 years. Just because you don't have malpractice insurance doesn't mean you don't pay up, as far as I understand.

 

[PistolPete]

Look up "going bare": Going Bare? | Physicians Practice

 

[PistolPete]

https://www.equotemd.com/blog/doctors-going-bare-in-florida-without-medical-malpractice-insurance/

Physicians today are under the false assumption that if they do not carry medical malpractice insurance, and there is no insurance money to go after, that they cannot be sued, or that they cannot lose money. This is a dangerous misconception.

Courts do have the ability to garnish future wages. For example, if a physician makes a mistake and causes the patient damage, that damage could have an effect of the patient’s future earning potential. If the courts find that the damage will cost the patient $200,000 over the next ten years, the courts have the power to garnish that physicians future earnings to pay the patient over time for those damages done to the patient.

 

[Gavanshir]

https://www.equotemd.com/blog/doctors-going-bare-in-florida-without-medical-malpractice-insurance/

Physicians today are under the false assumption that if they do not carry medical malpractice insurance, and there is no insurance money to go after, that they cannot be sued, or that they cannot lose money. This is a dangerous misconception.

Courts do have the ability to garnish future wages. For example, if a physician makes a mistake and causes the patient damage, that damage could have an effect of the patient’s future earning potential. If the courts find that the damage will cost the patient $200,000 over the next ten years, the courts have the power to garnish that physicians future earnings to pay the patient over time for those damages done to the patient.

I'm skeptical of that article given that it's nameless and written by a medical malpractice insurance firm that touts itself as "largest in the nation", but I would be curious to know if there is actually any precendence for garnishing an MD's future wages in a malpractice case where he/she did not carry insurance.

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[nexus73]

Will a plaintiffs attorney want to get paid by garnished wages for the next 20 years? What if the doctor files bankruptcy. I think Florida protects your house against civil judgment or bankruptcy so you can by a big house and protect assets that way.

 

[Blitz2006]

MMS: Error

Nice overview on malpractice among specialties.

Psych is the lowest at 2.9%, and the median is around 190k per case.

Surprisingly OBGYN isn't the highest, as I thought it would be...

Even though it says error, link should work

 

[clausewitz2]

Will a plaintiffs attorney want to get paid by garnished wages for the next 20 years? What if the doctor files bankruptcy. I think Florida protects your house against civil judgment or bankruptcy so you can by a big house and protect assets that way.

Given how unemployment is a strictly voluntary affair for most BE/BC physicians who haven't had their licenses suspended, and given average physician wages as a function of the average household income in this country, why yes, 20 years of guaranteed revenue sounds like a really excellent investment. Garnishing a physician's wages in a significant judgment compares favorably to owning a small rental property.

 

[clausewitz2]

MMS: Error

Nice overview on malpractice among specialties.

Psych is the lowest at 2.9%, and the median is around 190k per case.

Surprisingly OBGYN isn't the highest, as I thought it would be...

Even though it says error, link should work

I thought it was interesting that from this data the median judgment in pediatrics is in the top third ranked by specialty, but the mean judgment for pediatrics soars waaaaay past any of the other specialties. I assume this is because juries are wont to impose enormous damages on perpetrators of dead children, especially children who die absent the setting of surgery or obvious trauma, where everyone goes into it with at least some sense of risk.

 

[PistolPete]

Average malpractice insurance rate per year is something like $5,000 for psychiatry, one of the lowest, if not the lowest, specialties. No excuse not to have it in my opinion, even in Florida.

 

[Candidate2017]

I thought it was interesting that from this data the median judgment in pediatrics is in the top third ranked by specialty, but the mean judgment for pediatrics soars waaaaay past any of the other specialties. I assume this is because juries are wont to impose enormous damages on perpetrators of dead children, especially children who die absent the setting of surgery or obvious trauma, where everyone goes into it with at least some sense of risk.

Dead patients cost less. Seriously injured, 89 year olds usually die quickly. Seriously injured, young patients will rack up money for up to 70-80 years of 24/7 care.