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Earlier this month, the Ohio Court of Appeals ruled on the medical liability case Jones vs. MetroHealth Medical Center. A key portion of this ruling pertains to the determination of economic damages related to future medical costs. Specifically, the court ruled to award the plaintiff an amount sufficient to cover the premium on future health insurance policies that the plaintiff would purchase. This is a radical shift from past practice.
The second issue debated was the impact of increased employment of physicians by hospitals. Data was presented showing that while the number of doctors practicing has increased by roughly 10,000 per year since 2000, the number of solo practitioners has decreased by almost the same amount. Since 2009, this decrease has jumped to roughly 15,000 per year.
On August 20, 2014, Pinnacle’s monthly APEX webinar focused on health care reform and its impact on medical professional liability insurance. Art Randolph and Tim Mosler, both senior consulting actuaries with Pinnacle, squared off in a series of six debates. Each debate centered on a key health care reform issue and its impact. Elissa Sirovatka provided the background for each issue and moderated the debate.
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Pinnacle is an actuarial firm focused on property/casualty insurance, including alternative markets, captives, self insureds, enterprise risk management, predictive analytics, commercial lines and more. We serve trucking, insurance, health care, medical professional liability, reinsurance, workers compensation, public entities and other companies and concerns.
Our services include expert witness, loss reserving, litigation support, pricing, ratemaking, rate filing, statements of actuarial opinion, feasibility studies, capital modeling and other actuarial services and products.
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