Myths of Medical Malpractice Driven by Profits

The myths surrounding medical malpractice are driven by revenue and profits. The medical industry, though geared toward treatment and care of patients, is like every other industry governed largely by revenue and profit. Medical malpractice insurance providers are driven solely by profit.

Although the medical profession has some responsibility for the myths of an epidemic of frivolous medical malpractice lawsuits, the bulk of responsibility lies with the insurance industry. And it has paid up in spades.

As a result of these efforts to vilify innocent patients and families harmed or killed by medical negligence, medical malpractice claims and lawsuits have gone down dramatically over the last 20 years while the death toll has gone dramatically up with estimates as high as 440,000 deaths each year from preventable medical error.

Doing the math is simple. Medical malpractice insurance industry profits are up. Premiums are up based upon the myths created by the insurance industry. Payouts are down due to the buy-in to myths.

One need only look at the realities of medical malpractice and its toll on patients, families, taxpayers and the medical care system overall to see that the constant drumbeat for reform is at best illogical, at worst it is based on outright deliberate driven by a desire for profit over patient safety.

Don’t buy into the myth! If you believe that you or a loved one has been seriously harmed by medical malpractice, Collins & Collins, P.C. can be reached at (505) 242-5958.