I keep hearing that Tennessee doctors pay a lot of money for malpractice insurance and that if we limit the right of patients to bring lawsuits doctors will save money on insurance. Is that right?
There is no reason to believe that malpractice rates will be dramatically or even materially reduced if the Tennessee Legislature caps damages in medical malpractice cases.
Here are a few statistics that address the issue. In 2010 an internist in Tennessee paid $7076 for $1,000,000 worth of medical malpractice insurance. This provided the doctor for up to $1,000,000 for any single act of malpractice and total payments for three or more claims of $3,000,000 in any year. The rate for this insurance was 23.11% less than it was in 2009.