5 Year Analysis: Insurance Profits Up, Malpractice Cases Down

 Posted on December 10, 2013 in General

By: Robert F. Geimer

As it turns out, insurance companies are gouging doctors and hospitals for millions of dollars in premiums and then lining their own pockets.  From 2008 to 2012 inclusive, the number of claims paid by the largest medical insurer in Illinois dropped from 257 to 169, while net income rose from $34 million to $57 million.  That’s $57 million for one medical insurer in one state.  All the while, the number of medical malpractice cases in Illinois has steadily declined over the past decade, down nearly 40% since 2003.  Insurers would have us believe there are too many malpractice lawsuits; the truth is there are fewer cases and fewer claims paid.  The dirty little secret is that they are keeping these obscene profits for themselves.