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Factors that influence malpractice insurance rates

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  • Avatar endo4jc 
    Participant
    Status: Physician
    Posts: 13
    Joined: 11/14/2018

    Starting my first real job this fall.

    What factors including malpractice rates?

    Specialty?
    Location?
    Age?
    Your own personal medical history?

    Especially interested in the last point regarding. Thanks.

    #198002 Reply
    Avatar SLC OB 
    Participant
    Status: Physician
    Posts: 304
    Joined: 06/23/2018

    Yes, all of the above.

    Claims history if super important. For instance… I have a great (no) claims history as an OB in California. Therefore, I have been with same company (a cooperative that takes only low risk people) and my cost has been no more than $18K/year. My partner had a few cases, nothing came of them but he was forced out, his policy through a different company cost $35K/year. Tort reform plays a big role… like Florida the OB’s can’t get malpractice for less than 6 figures!

    Good luck.

    #198014 Reply
    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 5400
    Joined: 01/12/2016

    How would your own medical history have anything to do with it?

    #198031 Reply
    Liked by Lordosis, ENT Doc, Tim
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 1443
    Joined: 09/18/2018

    Medical practice history? Claims?

    #198045 Reply
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 2698
    Joined: 01/14/2017

    Specialty, location (state and specific city), prior claims history, procedures you perform, claims made vs occurrence, coverage limits, time out of training, participation in risk reduction classes/education, group plan or not.

    There are some subtleties that I’m not sure if they tease out or not. For example, you’re more likely to have a claim filed against you in my field if you are male, at least in the initial phase out of training. Rest assured, they have all this data.

    #198046 Reply
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3033
    Joined: 01/08/2016
    Your own personal medical history?

    Click to expand…

    how would they even know?

     

    also why?

     

    also also more time you practice = more patients you see = higher risk for everyone.

    #198060 Reply

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