April 3, 2007

Matthew C. Katz, executive director of the Connecticut State Medical Society, in the Hartford Courant:

Each year, it's harder for Volpintesta [Edward Volpintesta, a 62-year-old family physician in Bethel, Ct.] to stay in business. His malpractice insurance costs $15,000. His annual salary is $75,000. That's not a typo - it's fairly typical for a primary care physician in Connecticut. For the record, Volpintesta plans to drive his 5-year-old Toyota until it stops running. ...

Dr. Jim Watson, a board-certified obstetrician, stopped practicing obstetrics and major surgery and went to a part-time schedule in 2006. Watson, Windham Community Hospital's 2005 Physician of the Year, cut his hours severely to reduce his annual medical malpractice insurance premiums from $120,000 to $25,000.

Watson wants to retire, but he can't afford to. His practice changed malpractice carriers two years ago to cut costs. Watson must carry the insurance for five years after the change, just in case of a claim. The only way he can retire is to pay his malpractice insurer close to $100,000 up front to cover the possibility of a malpractice suit.