Teaching Physicians the Price of Care

Side note: Great article from the New York Times on teaching medical students about the cost of care. Thought this is an important first step, students should also be taught about the cost of running a practice, and how much this can vary by location and specialty. Since medical malpractice insurance is one of the largest costs a new doctor can face, it is vital to have a good understanding of this information. To learn about physician liability insurance rates across time, location and specialty, visit the Historic Medical Malpractice Insurance Rates page.

Click here to read the full New York Times article. It’s interesting to note that, even while medical schools teach the cost of different procedures and how to do risk-benefit analysis, they are still teaching students that they may need to practice defensive medicine and order tests and procedures that are unnecessary, simply because of the fear of medical liability laws suits. Until changes in policy are instituted, doctors will continue to face high med-mal insurance rates, and health care costs will go up due to the cost of these unnecessary procedures.

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