chopin1810900 asked:
In terms of a percentage, how much money does it usually eat up?
How Much is Malpractice Insurance for Most Medical Professionals?
5 thoughts on “How Much is Malpractice Insurance for Most Medical Professionals?”
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Well, that varies! Podiatrists might pay 5%, and high risk obstetricians might pay 35%. Physicians with prior claims pay about 3X what one without a claim pays. So an obstetrician with lots of claims could pay 60%!
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Unfortunately there is no easy answer to your questions. The price will depend on what type of mecial professional they are, where they are located, and if they have had prior claims.
Malpractice varies depending on what your profession is, what state your in, and your claims history. A dentist in CO is around 12,000 , where as an Oral Surgeon is around $12,000. An anesthesiologist is around $16,000, OBGYN $$35,000… See how it differs?
These rates vary per carrier too…
Here in Illinois, it is really high. It is even becoming common for Hospitals to either pay a phycisian’s malpractice insurance or their salary. Orthopedic surgeons, Obgyn, and neuro surgeons have the highest rates. To give you an idea I worked for a group of 5 surgeons their rates were $300,000 for 6 months.