Quote:
Originally Posted by Jim in CT
We need to somehow address the underlying cost of the healthcare that docs provide. One way to do that is tort reform. Unfortunately, the American Trial Lawyers lobby gives big $$ to democrats, who consequently won't allow that reform.
That's just a very small piece. I don't know that there is a solution. It's a staggering problem even in a simple environment, but when you throw on top of it the looming tsunami of the baby boomers, and we are in for a real reckoning. A real reckoning.
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As you said, a small piece - but a piece.
The NE journal of medicine says about 7.4% of Drs. are sued each year and by age 65, even Drs. in low risk specialties (like pediatrics and dermatology) face a 75% chance they will have been sued. In 2009, the Congressional budget office said that going to a 250K cap on noneconomic damages and 500K on punitive damages and a 1 year statute of limitation would save about 11B/year - 40% of from reduced malpractice prem. and the rest from fewer tests/procedures.
Total cost/year are about 2.6Trillion. Thus 11B, is not even 1/2 of 1% of total costs. Cost are incr. about 100B/year.
In 2010, the 5 largest medical insur. had about 11.7B in profit.
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