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Doctor quits over malpractice costs

Discussion in 'U.S. Politics' started by PLC1, Sep 14, 2009.

  1. PLC1

    PLC1 Moderator Staff Member

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    I'd like to think this is an isolated incident, but I doubt that it is:


    Rx for money woes: Doctors quit medicine

    After years of school, one would think that a doctor would be free to practice the art of healing and be well paid for it.

    One would think.
     
  2. pocketfullofshells

    pocketfullofshells Well-Known Member

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    while I am sure someone will cry for reform on payments for medical screw up...I wounder how many billions in profits that insurance company made over that time each year....
     
  3. Pidgey

    Pidgey Well-Known Member

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    It's said that insurance companies tend to make their money from the "float", which is the time between when a premium is received and when a payout is made on behalf of the insured. During that time, the insurance companies invest the money in high-grade securities. Looking at their financials (AETNA and the like), they typically have made from 3-4% net profit based on revenues. Proceeding from there, it's most likely that they've actually heretofore supplemented their payouts with money earned through investments.

    However, given the extreme downgrading of many investments these days, and, worse, that many investment portfolios aren't "performing" (forget what you think you see in the stock market), there might well be many of them (large insurance companies) that are actually losing money at this point instead of the other way around. I need to dig deeper into a few companies' financials...

    Walmart and Microsoft have tended to a do a h*lluva' lot better than the insurance companies, by the way.
     
  4. BigRob

    BigRob Well-Known Member

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    In pure profits? Probably not all that much.
     
  5. ASPCA4EVER

    ASPCA4EVER Well-Known Member

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    I've often wondered the reason that there weren't any 'CAPS' nationally that could be awarded for 'PAIN & SUFFERING' if a doctor was found GUILTY of malpractice and intentional harm.

    I mean; there have been as many wide diverse amounts of juror awards of $$$$ for 'Pain & Suffering' across this country, and that begs the question of how does one weigh the pain & suffering for one type of court case against another {does that mean that this patient was worth more $$$$ award then another in a different location in America} ??? And just because a jury awards the $$$$ amount to be handed over doesn't mean that the defendant ever has to pay the adjudication...(ie. O.J Simpson to the Goldman family isn't an isolated case by any means} :mad:
     
  6. Mr. Shaman

    Mr. Shaman Well-Known Member

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    "Well paid...".....compared to WHO?????

     
  7. Mr. Shaman

    Mr. Shaman Well-Known Member

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    Actually....it's an old STORY...one told by insurance-companies, on a fairly-regular basis. You merely need to be old-enough to recognize that....​

     
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