Liability insurance premium hikes take bite out of physicians' income
MANAGED CARE May 2003. ©MediMedia USA
No wonder increases in physician liability insurance premiums have caused such uproar over the last year. Data collected by the Medical Group Management Association show that physician income rose from 1999 to 2001. Liability insurance premiums skyrocketed, however, siphoning off an even greater portion of physician income. The result: nationwide protests, rallies, and lobbying efforts in Congress from physician groups.
The MGMA thinks physician income actually went down in 2002, though exact numbers will not be available until broad studies are conducted.
Doctors pay dearly for peace of mind
Average professional liability insurance premiums
SOURCE: MEDICAL LIABILITY MONITOR, 2002