New York Physicians Frustrated at Rising Medical Malpractice Insurance Rates

Medical malpractice lawsuits are fairly common in the state of New York. Over the last decade or so, the Empire State has seen more medical malpractice reports than any other state in America. However you slice it, this is not an encouraging sign. On the one hand, lawmakers and physician groups complain that these medical malpractice lawsuits are costing taxpayers and doctors serious amounts of cash each year. On the other hand, average citizens are pointing out that if so many medical malpractice claims are being filed each year, something is seriously wrong with the system.

If you have been the victim of medical malpractice in the state of New York, you are entitled to pursue justice. Doctors are supposed to help us, not harm us. These acts of negligence need to be addressed, and it is not just about receiving compensation. Medical malpractice lawsuits also serve as important checks and balances for our healthcare system, ensuring that everyone receives the best care possible. If you think you were the victim of medical malpractice, reach out to an experienced attorney in New York who specializes in these matters.

Physicians in New York are Not Happy With Cuomo’s State Budget

In March of 2021, it was reported that the Medical Society of the State of New York was concerned about Governor Cuomo’s new budget. Among other things, Cuomo cut funding to the Excess Medical Malpractice Insurance Program. This insurance program protects doctors against the financial consequences of medical malpractice lawsuits. As long as they pay their premiums, their insurance provider will cover any payouts to patients who have suffered from their negligence.

With the new budget in place, these budget cuts will raise the premiums for this insurance program. This means that doctors are going to have to pay more each month to remain covered. The Medical Society of the State of New York predicts that these budget cuts will add “tens of thousands” of dollars to premiums for each doctor.

For many, this move is somewhat predictable. New York spends more money on medical malpractice payouts than many other states, so it is understandable that lawmakers attempt to lower the costs of these settlements. What kind of an impact could this have? Although physicians are not exactly part of the 1%, the majority of them are probably not struggling with poverty. On many levels, it is difficult to relate to their economic woes. Patients who have suffered from medical malpractice are clearly the real victims here.

For the most part, doctors in New York are frustrated in large part due to the inconsistencies of Cuomo’s administration. It is a well-known fact that patient visits have dropped significantly during the pandemic. This results in lower revenue for doctors across the state. However, these doctors are actually being asked to pay higher insurance premiums despite the fact that few patients are walking through their doors. With this in mind, you can understand why representatives of the Medical Society are saying that it “makes no sense whatsoever.”

Enlist the Help of a Qualified Attorney Today

If you have been searching New York for a qualified, experienced attorney who can help with your medical malpractice lawsuit, look no further than The Glassman Law Group. We specialize in medical malpractice lawsuits, and we know how to hold doctors accountable for their negligence. Reach out today, and we can take the first steps toward pursuing justice and a significant settlement.