Welcome!

News Feed Item

Study Finds $1.4 Billion in Annual Medicaid Savings with New Medical Liability System

TALLAHASSEE, Fla., Feb. 19, 2013 /PRNewswire-iReach/ -- With Florida facing skyrocketing Medicaid bills and surmountable deficits, a new study finds replacing the Florida medical liability system with a no-blame, administrative Patients' Compensation System could annually save $1.4 billion for Florida's state share of Medicaid.

(Photo: http://photos.prnewswire.com/prnh/20130219/CG62338)

Defensive medicine occurs when physicians order more tests and procedures than are medically necessary to keep from being sued. The annual cost of defensive medicine in Florida is estimated at $30 billion, with taxpayers picking a $5.2 billion portion of the tab through Medicaid.

The actuarial study, released by the international healthcare economics firm BioScience Valuation, found that doctors would scale back the practice of defensive medicine if the medical tort system was replaced with a no-blame, administrative compensation system.

Without the constant fear of being sued, physicians would choose the best healthcare for their patients, resulting in fewer unnecessary tests and procedures. BioScience estimates doctors would reduce the practice of defensive medicine by 30 to 70 percent under a Patients' Compensation System.

"There is no single effort that could reduce the cost of healthcare as dramatically as eliminating the practice of defensive medicine" Dr. Lee Gross, treasurer of Charlotte County Medical Society. "If Florida lawmakers embrace this model, they will bring enormous healthcare savings to taxpayers and our state budget."

Under a Patients' Compensation System, a patient who was medically injured could file a claim for review by a panel of expert practitioners. If that panel deemed the injury was "avoidable," the claim would be forwarded to a Compensation Department to award compensation.

This would create a predictable model where patients are assured their cases would be heard. Injured patients would have access to justice. And unlike the current tort system, low-value claims would be heard. The system would provide more injured patients compensation. They would receive predictable settlements in much faster time. Doctors would know they wouldn't be hauled into court for frivolous reasons.



Among highlights of the BioScience Valuation report:

  • Annual cost of defensive medicine in Florida is estimated at $30 billion, an estimated 26 percent of total Florida health care costs (based on a survey by Gallup).
  • Annual cost of defensive medicine is almost $7.5 billion for Florida Medicaid.
  • With an effective no-fault, Patients' Compensation System, first year savings for Florida's state share of Medicaid could be $340 million; that number may grow to annual savings of $1.4 billion after five years.
  • Yearly overall savings for Florida Medicaid are each expected to be in the order of $780 million in the first year and more than $3.9 billion annually after five years.
  • Long-term, Florida Medicaid could achieve overall savings exceeding $45 billion over a ten-year period, of which $16.8 billion would be Florida's state share of Medicaid.

To access the full report from BioScience Valuation, visit: 
http://www.patientsforfaircompensation.org/landing-pages/fl-economics-of-defensive-medicine/

About Patients for Fair Compensation
Patients for Fair Compensation is a 501(c) 4 organization seeking to replace our broken medical liability system with a no-blame, administrative system. The Patients' Compensation System will lower healthcare costs by eliminating the practice of defensive medicine, saving up to $650 billion per year nationally in unnecessary costs. By assuring access to real justice for injured patients and increasing patient safety, the system is one that works for patients and our economy. Visit http://www.patientsforfaircompensation.org for more information.

Media Contact: Jordan Jacobs Patients for Fair Compensation, 850-224-0174, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Patients for Fair Compensation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Cybersecurity is a critical component of software development in many industries including medical devices. However, code is not always written to be robust or secure from the unknown or the unexpected. This gap can make medical devices susceptible to cybersecurity attacks ranging from compromised personal health information to life-sustaining treatment. In his session at @ThingsExpo, Clark Fortney, Software Engineer at Battelle, will discuss how programming oversight using key methods can incre...
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyor belt between the Software Factory and production stages. Artifacts are ...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...