Monday, June 04, 2007

Cap malpractice lawsuit awards and they will come

According to an article in the San Antonio Express-News, physicians are flocking to Texas:

The lower cost of being a doctor in Texas has helped trigger a stampede of applications for physician licenses, with the waiting line now up to 12 months.

Rates have fallen an average of 21.3 percent, and up to 41 percent at one insurance company, says former state Rep. Joe Nixon, a Houston trial lawyer who helped sponsor passage of Proposition 12.

An internal medicine doctor in Houston paid $18,507 for malpractice insurance in 2003 but only $13,272 in 2007, or $10,403 with a 20 percent renewal dividend, according to figures given to Nixon by the state's largest insurer, Texas Medical Liability Trust.
Apparently insurance companies are also moving to Texas since they can now "...put a numeric value on the risk of doing business in Texas, something that was not possible when the sky was the limit for juries." Click here to read this article.

No comments: