Mr. Shaman
Well-Known Member
- Joined
- Nov 27, 2007
- Messages
- 7,829
"The American Association for Justice — the trial lawyers’ lobby group — has just released an astounding statistic: medical malpractice insurance companies’ average profit$ are higher than those of 99 percent of Fortune 500 companies.
As the nation remains mired in a debate over health care reform and how to keep down the costs of expanding coverage, AAJ is trying to point out that Republicans claims that medical malpractice lawsuits are one of the big cost drivers is completely misleading. In fact, though malpractice claims and so-called “defensive medicine” does account for a small percentage of unnecessary costs, medical errors and the astronomical profit$ of malpractice in$urer$ appear to be a bigger part of the problem.
AAJ’s report released today finds that 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 in$urer$ have seen their profit margins range from 5.9 percent to 74.8 percent, with an average of 31.2 percent. The report also finds that malpractice insurers have publicly overestimated their losses and underestimated their profit$ in an attempt to suggest the insurance business and medical practice in general faces a cri$i$ that must be resolved by so-called “tort reform” — i.e., making it harder for patients to sue and to collect damages for their injuries."
Gee.....another health-insurance HU$TLE!!
Imagine THAT!!!!
