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How much does the medical malpractice insurance cost for physicians these days? |
How much does the medical malpractice insurance cost for physicians these days? A way lot. It can be as low as $5,000 a year for a first year part time podiatrist in Iowa with no claims, or Millions, for an ob in a major city who's been practicing for ten years, and has a dead baby once a year (not his fault). Rating factors include: years in practice, city & state of practice, weekly number of hours working, type of practice, type of procedures done, and claims history. Source(s): agent, 20+ years Good question. It depends a a great deal of variables. The premium is often determined by the specialty type, the location of practice, and if high risk procedures are done by the phsycian. The answer can be a "low" as 15000 dollars a year (pre-tax) up to over 250,000 per year based on the variables discussed above. A general practice doctor with out obstetrics in the Midwest will pay at the low end. A OBGYN in Las Vegas or Florida will pay at the high end. Most insurance companies are getting out of this business because despite the high premiums there costs are equally variable and can be truly high (EG one patient's Vioxx case cost them close to 250 million). Hope this helps... Invisible Bankers: teh insurance business in America, Andrew Tobias (out of print) It can range from $25,000 to $100,000 annually. |
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