“When doctors become invested in an outpatient surgery center, they perform on average twice as many surgeries as doctors with no such financial stake, according to a new study from the University of Michigan Health System.”

Things are never as they are as reported by the hype it up news to get your attention so we can sell advertising for a profit. Next time you hear about the out of control court system from a political party, talking head, or news media remember what they are in the business for, not the truth but the hype. Boring news or moderation gets you nothing in the hyper competitive news business.

 http://www.sciencedaily.com/releases/2010/04/100406101446.htm

“Radiologists who work in breast imaging tend to overestimate their actual risk of medical malpractice lawsuits, according to a study performed at the University of Washington School of Public Health and Community Medicine in Seattle, WA.”

This supports my belief the we humans tend to exaggerate many things in life or should I say our egos tend to exaggerate the ugliness that we place on an object or person.

http://www.physorg.com/news152807289.html

“Lawmakers said the number of malpractice suits and the dollar amounts awarded to plaintiffs have gone down, but insurance premiums for businesses and doctors have not.”

How could that be? I guess it has to do with insurance company investments as I talked about here: https://robertsfight.wordpress.com/2010/03/30/medical-malpractice-premiums/

 

http://www.wfmz.com/news/23237043/detail.html

“Implants can fail for many reasons, but if only a small percentage of them fail prematurely because they are substandard, the costs to taxpayers, policyholders and patients can run into the tens of millions
of dollars each year, health care experts estimate.”

http://www.nytimes.com/2010/04/03/business/03ortho.html?adxnnl=1&adxnnlx=1270566061-ikygVfqn7J3U6IfSyHSixQ

An interesting article on tort reform in Missouri.

“More recently, a study by WellPoint, a large insurer, found that medical malpractice was “not a major driver of spending trends.”

“In the Kansas City area, 22 medical malpractice claims were filed last year, but only five resulted in plaintiffs’ verdicts, according to the Greater Kansas City Jury Verdict Service. In 2007, 19 claims were filed, and only five resulted in plaintiffs’ verdicts. In 2006, 23 claims were filed and just two resulted in plaintiffs’ verdicts.”

http://www.kansascity.com/2009/08/28/1412046_p2/would-tort-reform-make-a-difference.html

You get into your car and place your child in the back seat and wrap the seatbelt around your child. You wrap the seatbelt around you child in case you are involved in an accident. Unfortunately you are in an accident and in that moment in time the seatbelt fails, throwing your child through the window and killing him. This seat belt was required by Federal Law and had to meet minimum design standards.

You later discovered that this seat belt had a recall because of a 4% failure rate. You also learn that this seat belt had an earlier recall with a smaller subset of that model of seat belts.

Unfortunately you can not sue because of a Supreme Court ruling for pre-emption protecting the automobile industry from lawsuits. The Supreme Court argued that allowing fifty states to sue would be imposing fifty different requirements on the auto industry.

Sorry you are out of luck.

Do I hear this Texas congressman talking about states rights. I do not believe I see him on the list of co-signers of the Medical Device Act to overturn the Supreme Court ruling restricting states rights.

“The existing process in some way thwarts innovation. By definition, the 510K approval is designated for substantial equivalence. That is, the device must do something in the same way as an existing device that was previously approved.”

http://www.healthnewsreview.org/blog/2009/12/star-tribune-gives-one-sided-view-of-fda-medical-device-approval-process.html

What drives the wild swings in medical malpractice premiums? Insurance premiums are no different in bonds in how they fluctuate in prices based on the return in investments.

Each bond pays a fixed coupon payment, usually every six months. That payment determines the rate of return, or the interest. For instance, if a bond pay $50 every six months and costs $1,000 to buy then the interest rate is $100/$1000 = 10%.   However, if investors bid up bond prices then the interest rate falls because the coupon payment does not change. For example, if the bond price is bid higher to $2,000 then the interest rate is $100/$2000 = 5%

Insurance companies have to invest the premiums they receive from doctors. This means that they have to adjust their rates based on the return on investment because they have to maintain their reserves.

So how does it work? If I can invest $1.00 at 8%, I’ll have $1.71 in seven years. If I can only invest at say 3%, I’d need $1.39 to have $1.71 in seven years. That would imply a 39% rate increase just on that factor.

You can easily see that large fluctuations in premiums could very well be driven by the insurance companies investments.

“I was first ignored, then pressured to change my scientific opinion, and when I refused to do that, I was intimidated and ultimately terminated,” he said in an interview. “And I’m going to tell the committee exactly that at this meeting.”

http://www.nytimes.com/2010/03/29/health/policy/29fda.html?pagewanted=2&partner=rss&emc=rss

I have one question regarding this news report. Why did the FDA miss this? Was it not reported by the drug company? Why did the drug company just not do this on their own?

 

“Ex-Toyota lawyer says documents prove company hid damaging information”

What if you had lost your infant in a Toyota. If you were in California or Texas there is a cap of $250,000 on pain and suffering.

Who is looking out for you? California has a cap of pain and suffering of $250,000. Is this the reason even after this happened to seven infants at one hospital no action was taken.

Once again the jury, the common man, has spoken but with no real voice.

Money can buy you safety from the justice and the Republicans are very happy to obliged. Be careful because you could be next as the Chamber of Commerce marches down the tort reform list industry by industry.

The award probably will not stand because the cap in Texas for punitive damages is $2 million. The people have spoken but the those with power and money with the Republicans have the final say because they drive the tort reform debate and laws.

“A jury has ordered Houston homebuilder Bob Perry to pay $51 million to a retirement-age Mansfield couple who fought for a decade over a defective house that Perry Homes refused to fix. Perry is the biggest campaign contributor in Texas and a major figure in tort reform championed by Gov. Rick Perry (no relation) to limit lawsuits and cap jury awards against business.”

http://trailblazersblog.dallasnews.com/archives/2010/03/political-moneyman-bob-perry-o.html

Another example of a frivolous lawsuit. I wonder if this woman is suing this clinic? Were these chambers really that old or is this a disgruntled employee?

And, of course if you lived in Texas or California your burns would be worth $250,000.

“A highly flammable oxygen chamber at a private clinic exploded into flames Friday, critically burning a woman and a young boy who was plucked from the fiery bed by a Broward Sheriff’s Office deputy.”

http://www.firefightingnews.com/article.cfm?articleID=65428