A big drop in the size and amount of payouts from Pennsylvania’s Mcare fund show that the state’s medical malpractice climate is improving, Gov. Edward Rendell said.
Over the last seven years, Mcare —which provides the catastrophic level of insurance coverage to medical providers — has seen payouts decrease by 61 percent, while the number of claims has dropped dropping 44 percent. Payouts are now at the lowest level in 19 years.
Rendell called it “great news for doctors, patients, insurers and our health care systems.” Doctors will pay about 18 percent less in premiums for Mcare coverage this year.
Rendell said the drop in Mcare costs and payouts mirrors the decline in costs for primary coverage, which have dropped about 20 percent over that period.
__
Source: Pennsylvania Governor’s Office/Insurance Department
Topics Pennsylvania
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Lemonade Books Q4 Net Loss of $21.7M as Customer Count Grows 
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
