Wednesday, January 05, 2005

In the immortal words of Socrates, “I drank what?”

You are going to hear a lot about how medical malpractice suits are causing all this havoc to medical insurance companies, and rates are so high because of them that doctors can’t afford to practice anymore.

Here are some facts:

1. Payouts of medical malpractice claims accounted for less than 1% of all medical insurance costs last year.

2. The actual figure is about $.60 for every $100.00 of insurance costs.

3. Medical companies invest a giant portion of their money in the stock market.

4. Medical companies have lost a lot of this same money in the stock market.

5. The only way to recoup these losses is to raise rates.

6. Drug costs and losses in the stock market are what are costs insurance companies most of their money.

Don’t buy the hype. It’s all BS. You may agree with Bush now, but think about this... You go into have surgery, have the wrong surgery performed, are then improperly medicated during the surgery, and suffer a bunch of horrible complications because of it. You then find out that this same doctor has been convicted of malpractice for almost the same thing three times before, yet still allowed to practice medicine. Your medical costs will costs around a million dollars total by the time you die. However, with Bush’s plan you can get a max of 250,000, which adds up to about 7 dollars a day for the rest of your life.

Where would you stand?

With the people who have actually been injured? Or…. With the big huge medical insurance companies that make you go to eight different doctors before you can get a prescription?


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