Also doctors and psychiatrists must buy expensive malpractice insurance and contend with patient demands in off hours.
Seven years ago Novich had 1, 600 patients and generated 55% operating margins, after staff, rent and malpractice insurance.
In Florida, the number of underwriters of malpractice insurance has fallen in three years from 66 to 12.
And dare I mention the costs associated with medical lawsuits and malpractice insurance?
One San Diego, California, bariatric surgeon's malpractice insurance has increased by a factor of four in the past year.
He also came out against rising malpractice insurance, which has recently caused hundreds of doctors to strike in protest.
Actuarial and investment consulting firms claim the lawsuits referred to above are jeopardizing their ability to obtain malpractice insurance.
FORBES: Actuarial Limitations of Liability? (LOL) Laugh Out Loud! (December 1, 2002 )
And that's not even considering further costs arising from lawsuits and malpractice insurance.
You must think about having enough money for the secretary and the nurse and the rent and the malpractice insurance.
Malpractice insurance is almost unaffordable for some high-risk specialties such as securities and patent law, where damage claims can run into hundreds of millions of dollars.
Doctors' salaries are so high not only because of supply and demand but also to offset the amounts they have to invest in education and in malpractice insurance.
Smoking chestnuts to brew in a dark stout will be his project for the summer, says Mr. Leander, the chief technology officer of a medical malpractice insurance brokerage in Elmwood Park, Ill.
Some malpractice insurers are urging doctors not to write any prescription without seeing the patient in person, says Lawrence Smarr, president of the Physician Insurers Association of America, which represents malpractice insurance providers.
When their home state of Texas was considering capping the amount of pain and suffering damages available to plaintiffs in medical malpractice cases, the malpractice insurance industry made a big push in support of the legislation.
FORBES: GOP Fights With Itself Over Medical Malpractice Reform
Bingham, which employs about 1, 000 lawyers around the world and has developed in recent years one of the legal industry's more recognizable brands, owns malpractice insurance that likely will cover the cost of any settlement, or judgment in the case of litigation.
That means a larger health-care agenda beyond the GOP talking points of medical malpractice and cross-state insurance purchases.
Still believe medical malpractice claims are the cause of escalating health insurance coverage?
Nine months later, the largest malpractice carrier in the state was before the Insurance Commissioner seeking a rate increase.
FORBES: GOP Fights With Itself Over Medical Malpractice Reform
The Illinois Supreme Court, for example, last year chucked out caps on non-economic damages in medical malpractice cases that had been sought by doctors and insurance companies and opposed by trial lawyers.
This year he started an insurance company in Bermuda that will soon sell medical malpractice and workers' compensation coverage.
Its insurance arm, which ranked just behind St Paul in malpractice, is widely believed to be up for sale.
Reinsurance companies provide insurance for insurance companies (property, casualty, life, health or malpractice), frequently assuming a portion of the financial risk involved.
We can end the era of defensive medicine with real malpractice reforms, and use the savings to fund state programs that provide insurance for Americans with pre-existing conditions.
New Zealand has a national, no-fault insurance scheme, and as a result, far less anxiety about malpractice litigation.
They went so far as to go on record with the Texas Insurance Commissioner, promising that such a law would go a long way towards reducing the malpractice premiums they charged physicians, thereby reducing the cost of medical care to the consumer.
FORBES: GOP Fights With Itself Over Medical Malpractice Reform
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