High Cost of Medical Malpractice Insurance
Medical malpractice insurance premiums are a big cost for many OB/GYNs, sometimes even equating to a third of a doctor’s salary. OB/GYNs face some of the highest rates of malpractice cases, and the specialty is extremely high-risk. The expenses of practicing as an OB/GYN lead some physicians to leave the most risky part of the specialty – obstetrics. Approximately 30% of OB/GYNs stop practicing obstetrics within 12 years, with many deciding instead to provide gynecological care only.
Across the board, insurance premiums are rising for medical professionals of all specialties, and the same can be predicted for OB/GYNs. In general, doctors’ medical malpractice insurance rates are on the rise as a result of increasing healthcare liability defense costs and larger indemnity payments.