Thats pretty interesting Steve S., but how much
do they pay for malpractice insurance?
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June 1, 2005
High cost of malpractice insurance threatens supply of ob/gyns, especially in some urban areas
UMHS study finds premium rates affect where ob/gyns choose to practice; could have major impact on urban areas.
ANN ARBOR, MI - The high cost of malpractice insurance for some medical specialties affects not only how many doctors are entering the field of obstetrics and gynecology, but also where they offer their widely needed obstetric, prenatal and gynecological care, according to new University of Michigan Health System research.
heir study, published in the June issue of the journal Obstetrics & Gynecology, gives a foreboding prognosis for the supply of doctors specializing in the field because of the rising costs of malpractice premiums.
Malpractice insurance premiums vary widely from state to state. Florida is the highest-premium state, with an average 2004 premium of more than $195,, followed by Nevada, Michigan, the District of Columbia, Ohio, Massachusetts, West Virginia, Connecticut, Illinois and New York.
The 10 lowest-premium states are Oklahoma, at about $17,000 on average, and Nebraska, South Dakota, Minnesota, Indiana, Idaho, North Dakota, Wisconsin, Arkansas and South Carolina.
Many areas of the country, especially around major metropolitan areas, are experiencing large increases in the average costs of premiums. Between 2003 and 2004, Dade County in Florida, which includes the city of Miami, went from $249,000 to $277,, an increase of about 11 percent.
In that same period, Cook County in Illinois, which includes Chicago , jumped about 67 percent from $138,000 to more than $230,000. Wayne County in Michigan , which includes Detroit, went up 18 percent, from almost $164,000 to nearly $194,000.
University of Mich. Health System---------------------------------------------------------------------
This report seems to conflict with yours, which, while it may be true, may not be necessarily accurate.
I know if my insurance rates were to jump 67%, I'd seriously be considering getting out of the business.