I know you have read the stories in your local newspaper. Medical malpractice lawsuits are driving doctors away as the result of outrageous jury awards in frivolous lawsuits. The doctors, and their insurance carriers, tell their state and national representatives that laws must be passed to stop this outrageous tragedy.
This is a bunch of B….S….!
A recently released report reveals the average profit of medical malpractice insurance companies is higher than 99 percent of all Fortune 500 companies and 35 times higher than the Fortune 500 average for the same time period; and malpractice insurers have seen their profit margins range from 5.9 percent to 74.8 percent, with an average of 31.2 percent.
My Take: Insurance companies are gouging doctors on their premiums to mislead lawmakers.