• Listen Live NOW!
  • On Demand
  • Ways to Listen
  • All Shows
    • Radio Shows
      • 1st Talk Compliance
      • FINN Voices
      • Harlow on Healthcare
      • Healthcare De Jure
      • Healthcare IT Today
      • Healthcare Upside/Down
      • Health UnaBASHEd
      • Payment Matters
      • PopHealth Week
      • The Incrementalist
      • The Scope with Dr. K
      • The Tate Chronicles
      • The Virtual Shift
      • This Just In Radio Show
      • Trending NOW
      • Value-Based Care Insights
    • Podcast Shows
      • 4sight Health Roundup
      • Ambulatory Healthcare Today
      • AMCP Podcast Series – Listen Up
      • Ask the Educator
      • Beyond the Needle
      • Conversations on Health Care
      • Healthcare Changemakers
      • Healthcare Rap
      • Healthcare Mixtape
      • HealthLaw HotSpot
      • Hello Healthcare Podcast
      • The Brain Trust
      • The Digital Patient
      • The Handoff
    • Monthly Podcast Shows
      • Follow the Medical Record
      • How I Transformed This
      • Life-Centered Health Care
      • Paving the Path
      • Tell Me Where IT Hurts
      • The Dish on Health IT
      • The Healthusiasm Podcast
      • Trauma-Informed Life
      • Voices of Change
      • Voices of Self Funding
      • What Consumers Want
      • What’s My Tagline
  • Playlists
  • NursesNOW
    • Nursing News
      • Organizations
      • Podcasts
  • Request Media Kit
  • Contact Us
Event Calendar
HealthcareNOWradio.comHealthcareNOWradio.com
  • Listen Live NOW!
  • On Demand
  • Ways to Listen
  • All Shows
    • Radio Shows
      • 1st Talk Compliance
      • FINN Voices
      • Harlow on Healthcare
      • Healthcare De Jure
      • Healthcare IT Today
      • Healthcare Upside/Down
      • Health UnaBASHEd
      • Payment Matters
      • PopHealth Week
      • The Incrementalist
      • The Scope with Dr. K
      • The Tate Chronicles
      • The Virtual Shift
      • This Just In Radio Show
      • Trending NOW
      • Value-Based Care Insights
    • Podcast Shows
      • 4sight Health Roundup
      • Ambulatory Healthcare Today
      • AMCP Podcast Series – Listen Up
      • Ask the Educator
      • Beyond the Needle
      • Conversations on Health Care
      • Healthcare Changemakers
      • Healthcare Rap
      • Healthcare Mixtape
      • HealthLaw HotSpot
      • Hello Healthcare Podcast
      • The Brain Trust
      • The Digital Patient
      • The Handoff
    • Monthly Podcast Shows
      • Follow the Medical Record
      • How I Transformed This
      • Life-Centered Health Care
      • Paving the Path
      • Tell Me Where IT Hurts
      • The Dish on Health IT
      • The Healthusiasm Podcast
      • Trauma-Informed Life
      • Voices of Change
      • Voices of Self Funding
      • What Consumers Want
      • What’s My Tagline
  • Playlists
  • NursesNOW
    • Nursing News
      • Organizations
      • Podcasts
  • Request Media Kit
  • Contact Us

AMA Issues Analysis of Medical Liability Insurance Premiums

Apr 6, 2021 | Posted by Industry News | News |

Medical liability insurance premiums have begun an upward trend after holding more or less steady during the past decade, according to a new analysis (PDF) from the American Medical Association (AMA) (@AmerMedicalAssn). In 2020, during the height of the COVID-19 pandemic, more than 30% of premiums reported on a survey of liability insurers increased from the previous year, the highest percentage since 2005.

For a second consecutive year there has been an exceptional surge in the percentage of premiums with a year-to-year increase. Between 2010 and 2018, the share of premiums that increased maintained a somewhat stable pattern, ranging from 12% to 17%. In 2019, that proportion almost doubled to 26.5% and went up again in 2020 to 31.1%.

According to the AMA analysis, “the responsiveness of premiums to changes in their determinants and external factors takes considerable time in the medical liability insurance market. Therefore, although some 2020 premiums may have been set after the onset of the [COVID-19] pandemic, it was still too early for them to be affected by it.”

“Increases in medical liability premiums compound the economic stress on medical practices as the COVID-19 pandemic resulted in significant reductions to patient volume and revenue, and higher expenses for scarce medical supplies,” said AMA President Susan R. Bailey, M.D. “Practice revenue has not fully recovered as the pandemic has stretched on and a protracted upward trend in medical liability premiums will threaten the viability of many practices that already face a difficult road to recovery.”

The AMA analysis identified the 14 states that had premium increases of 10% or more. Those states and their shares of reported premiums that increased by such magnitude in 2020 are: Kentucky (29.6%), South Carolina (27.8%), Maryland (18.8%), Nebraska (16.7%), Oregon (16.7%), Montana (16.7%), Georgia (14.8%), Missouri (14.8%), New Hampshire (13.3%), Illinois (11.9%), Michigan (11.6%), Texas (9.2%), North Carolina (6.7%), and Virginia (1.3%).

The AMA report also finds striking differences in premiums by geography. For example, in 2020 some physicians in OB/GYN faced base premiums ranging from $49,804 in Los Angeles County, California to $205,380 in Miami-Dade County, Florida.

“Keeping medical liability premium growth in-check is imperative to ensure patient access to care is not jeopardized by unaffordable liability insurance costs that make it impossible for physicians to remain in practice,” said Dr. Bailey. “This concern is particularly pressing given the negative impact that the COVID-19 pandemic has had on access and practice viability, as many physicians have had to suspend patient visits or elective procedures, and some have had to close their practices.”

Together with state medical societies, the AMA is pursuing both traditional and innovative medical liability reforms to preserve premium stability and meet the needs of millions of Americans who need affordable, accessible medical care. This includes limited and targeted emergency protections for physicians who continue to treat patients during the pandemic without adequate resources and support. For more information on AMA solutions to reshape the current medical liability system to better serve both physicians and patients, please read Medical Liability Reform– Now! (PDF)

The newly released AMA analysis on medical liability insurance premiums is based on an annual survey of professional liability insurers conducted by the Medical Liability Monitor (MLM). The MLM reports base premiums for three specialties in each state where the responding insurers provide coverage.

The AMA offers medical practices a growing list of tools and resources to support physicians as the COVID-19 pandemic evolves. Additional details on clinical information, guides, advocacy and medical ethics are available at the AMA COVID-19 Resource Center.

About the American Medical Association
The American Medical Association is the physicians’ powerful ally in patient care. As the only medical association that convenes 190+ state and specialty medical societies and other critical stakeholders, the AMA represents physicians with a unified voice to all key players in health care. The AMA leverages its strength by removing the obstacles that interfere with patient care, leading the charge to prevent chronic disease and confront public health crises and, driving the future of medicine to tackle the biggest challenges in health care.

Share on twitter
Twitter
Share on linkedin
Linkedin
Share on facebook
Facebook
Share on pinterest
Pinterest
Share on reddit
Reddit
Share on email
Email
Share this...
Tags: American Medical Associationinsurance

Radio for the Healthcare Industry

No HTML5 audio playback capabilities for this browser. Use Chrome Browser!

Categories

Follow Us on Twitter

My Tweets

About HealthcareNOWRadio.com

HealthcareNOWradio.com is an Internet radio station operated and produced as part of Answers Media Network. The station offers interviews, and commentary from industry leaders in healthcare and health information technology, as well as originally produced programming hosted by industry leaders. Listen on any device 24/7. You can also subscribe to get notification when a new show airs.

Sign Up for Our e-News Digest

Get notified when a new show airs or when your favorites are available as podcasts. Sign up here.

Our News Media Site

Connect with Us

Contact Us

Contact a Host

Media Kit

Listening Guide

 

Follow Us

Our Radio Hosts on Twitter

Tweets by @HCNowRadio

©2023 Answers Media Company, LLC

  • HealthcareNOW Radio Media Kit
  • Contact Us
  • Our Privacy Policy
  • Our Guests and Recording Policy
Prev Next