Posted on 05/17/2008 1:31:28 AM PDT by Puzzleman
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In 2003 and in 2005, Texas enacted a series of reforms to the state's civil justice system. They are stunning in their success. Texas Medical Liability Trust, one of the largest malpractice insurance companies in the state, has slashed its premiums by 35%, saving doctors some $217 million over four years. There is also a competitive malpractice insurance industry in Texas, with over 30 companies competing for business. This is driving rates down...
(Excerpt) Read more at online.wsj.com ...
Thank your lucky stars you have tort reform to keep it from getting any worse. If you let the filthy greedy lawyer scum have their way, soon you'd have nobody left in the big cities either.
I don't believe that for one moment. The average net take home of a ob-gyn is around 300k year.
The national average salary for an OB/GYN doc is $250,000 per year, not $300,000. And half of them, especially in places like South Texas, are below that figure. More than half, in fact, as an average is not the same thing as a median.
Also, when I said take-home pay, I meant after-tax income.
His medical malpractice insurance alone was cut to $5,031 in Texas, from $11,300 in Maine last year.
This is not at all reflective of the situation with OB physicians. Nationally, they pay $150,000 to 200,000 on average, and in some places (South Florida) as high as $277,000. If they've ever been sued, unsuccessfully or successfully (which any fair observer knows is highly likely to be unrelated to any real fault or malpractice in the typical OB case), then the cost of insurance will be substantially higher.
-ccm
I would probably lose your challenge. However, from what I know of human nature, the weak and incompetent will seek as much cover as possible. This law offers less risk for their mistakes than other state laws.
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