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Re: Bitter medicine From: Gail Waldby (gwaldby@willinet.net) Mon Jun 30 12:06:58 2003 Messages sorted by: [ date ][ thread ][ subject ][ author ] Next message: Myer Bornstein: "Re: Bitter medicine" Previous message: Douglas Krell: "Re: Bitter medicine" Maybe in reply to: rmodugno@aol.com: "Bitter medicine" Next in thread: Charlie Chambers: "Re: Bitter medicine" Any idea what will happen if you decide to unretire? Will the tail no longer be free or will it be converted to a nose? Gail Waldby, MD ENDODOK@aol.com wrote: > After 32 years of practice, I folded my tent 2 weeks ago. Our > former carrier withdrew our coverage. A new carrier was found, but > with nose coverage plus the annual premium, the first year premium was > $198,000. ( this was reportedly a "mature" policy). This was projected > to be a "stable" annual premium, however it raised our practice > overhead to 80%, and this was the best scenario our CFO could project. > This required a massive cutback in staffing, posssible increased hours > of operation etc. As you all know, the projection for liability > carriers losses is enormous, and the " De facto, insolvancy" of the > liabilty industry is a possibility . Do read the lead article in Time > ( 6/9/03 ). The outlook for improvement in premium rates for > physicians is grim. > The toll of this decision is profound, and my family is > devastated . I was given one day to choose to (1) leave totally > medical practice, and tail coverage was free, or (2) accept the new > policy with its unpredictability, and costs. Unless true liability > reform occurs, the lack of affordable coverage , or the unavailability > of any coverage will shut down medical practice as we know it. > > J.Glenn Bradley MD Next message: Myer Bornstein: "Re: Bitter medicine" Previous message: Douglas Krell: "Re: Bitter medicine" Maybe in reply to: rmodugno@aol.com: "Bitter medicine" Next in thread: Charlie Chambers: "Re: Bitter medicine"

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