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Factors that influence malpractice insurance rates

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  • Avatar endo4jc 
    Participant
    Status: Physician
    Posts: 14
    Joined: 11/14/2018
    Earnest refinancing bonus

    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: 425
    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: 5647
    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: 2127
    Joined: 09/18/2018

    Medical practice history? Claims?

    #198045 Reply
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3024
    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: 3618
    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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