10 key points on malpractice premiums in 2016
Malpractice premiums varied throughout the nation based on factors including specialty and patient volume in 2016, according to Medical Economics' "88th annual Physician Report."
Here are 10 key points:
1. Compared to 2015, 12 percent of physicians had an increase in malpractice premiums in 2016.
2. Fifty-two percent said premiums were stagnant.
3. In 2016, 6 percent of those polled said malpractice premiums fell compared to the year prior.
4. Twenty-nine percent said they were unsure if malpractice premiums rose or fell.
5. Cardiologists had an average malpractice premium of $18,700 in 2016.
6. Internal medicine physicians had a $12,600 malpractice premium last year.
7. By U.S. region, the Northeast had the highest average malpractice premium of $15,700 in 2016.
8. Physicians in practices of more than 50 providers had an average malpractice premium of $15,000 in 2016.
9. Solo practitioners had a $12,800 average malpractice premium that year.
10. Physicians with fewer than 25 patients had a $10,001 average malpractice premium while physicians with upwards of 200 patients had a $14,400 average monthly premium in 2016.
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