The decision to overturn the cap on non-economic damages in medical malpractice cases adds more uncertainty about the future of health care in Missouri, but most are taking a wait-and-see approach. Missouri’s highest court threw out the $350,000 limit on July 31st in a case involving a baby born with brain injuries, ruling that the cap is unconstitutional. The cap…
The Supreme Court of Missouri voted 4 – 3 to overrule the cap on non–economic damages in medical malpractice cases on July 31, 2012. The court ruled that damage caps are unconstitutional and violate the right of trial by jury. A prior decision in 1992 had upheld the cap as constitutional, and in 2005 a tort reform bill was passed…
Another medical liability insurance company recently announced the approval of a dividend for policyholders. This is not unusual these days. Mutual medical malpractice insurance companies that build surplus over and above operating costs, have more than adequate reserves for claims, and still have a profit after all other expenses often give the physician policyholders dividends either in the form of discounts…
Everyone is familiar with the story of “The Emperor’s New Clothes.” It’s a little fairytale describing how a king’s vanity becomes so great that his subjects and even his most trusted advisors will not question him and will go along with anything he says. In the story, as the king proudly struts through the city naked and unashamed, there is…
Health care providers face more challenges today than at any other time in recent history. The uncertain future of health care in the U.S., increasing patient loads, added expenses, and decreasing reimbursements makes practicing medicine difficult for physicians and groups these days. With all of the obstacles you face, I want you to know that we are here to…
Physicians and administrators have a great deal to consider when choosing whether to work with a medical professional liability insurance company directly or to work with a broker with more options. There are many good reasons to work with a broker that has access to multiple insurance carriers as opposed to dealing with a company directly. As your policy renewal…
At the start of a new year it’s a good idea to take a look in the rearview mirror to see how far you have come, to check off the list of goals you have accomplished, and to evaluate the areas that still need improvement. This is a worthwhile exercise in your personal life as well as in your business. …
As a physician you may wonder if it is a good idea to finance your medical malpractice insurance premiums. For some, the benefits of cash flow throughout the year outweigh the finance charges that are applied for monthly or quarterly payments. Of course, you will want to find out how much it will cost you to spread the premiums out…
The Missouri Department of Insurance has released its 2010 Missouri Medical Malpractice Insurance Report, which is available here. The MO Dept. of Insurance has collected data on Missouri medical malpractice claims for more than 30 years. This is important data for physicians, hospitals, and insurance companies because it shows how claim frequency and severity fluctuates from year to year. …
To Our Valued Clients and Potential New Customers: As fall rushes in I am reminded that we are again near the close of another year. I hope that things are going well for you this year and that you finish with a prosperous 2011. I know the last few years have been challenging for many practices. Although there are still…