My malpractice insurance may go up if a suit (or grievance) is brought against me.
With the same company, I pay almost twice as much more for my malpractice insurance as a psychologist than I did as a masters-level counselor. I assume that this reflects actuarial data. As a psychologist, I expect to work with people with more complex problems, so the chances of a problem arising may be greater.
So here’s something I’ve been thinking about lately then:
Given that premiums will continue to rise, and given that the rise is beginning to drive some doctors out of certain areas of practice, when does the insurance water reach the bottom of the hill.
That is, when do we stop seeing basic health care being available at any price?
Or
When is it no longer cost effective to be a doctor and those who would normally go through med school elect another profession?
Very good question, JC. I predict massive Enron-style collapse in the insurance industry within 5-10 years, forcing the adoption of some kind of socialized medicine.