Health Care Reform: Is Medical Malpractice in New York Next?

I read an article today in Newsday by an ‘activist’ that suggested the reason health care costs are so high are because of medical malpractice lawsuits. I will tell you that such a statement is totally false. Why do I say this?

Because there have been studies that show specifically that the two primary reasons health care and medical malpractice costs are so high are: (1) The insurance companies inability to properly plan for and realize significant profit during a down-turn economy, and (2) Private health insurance companies and their profits.

This activist was so radical in her beliefs that she actually suggested that limiting an injured victims’ rights will reduce the cost of health care. She made no mention of compensating an injured victim by the wrongdoer. I am amazed every time I hear such radical comments and here’s why:

Let’s say you own a Picasso painting that is valued at $10 Million dollars. Let’s say that through some carelessness of a painter doing work in your home that painting is destroyed; he accidentally spilled a bucket of paint all over that nice painting. The value of the painting is $10 million dollars and must be repaid. Luckily for you, you have an insurance policy that insured the painting. Do you think it would be fair if a group of ‘activists’ said, “We don’t care what the value of your valuable paintings were, you should only be able to recover a maximum of $500,000 for your damaged painting.”

Let’s see if that’s fair. Maybe you paid a few million dollars for your precious painting. Let’s say that painting’s value increased over the years and now a buyer wanted to pay you $10 Million dollars for it. Before you had a chance to agree to the transaction, your painting is destroyed and now the maximum you can recover for your damages is $500,000. That doesn’t sound right to me. Does it sound right to you?

These ‘activists’ believe that by limiting the amount of money  a medical malpractice insurance company pays to an injured victim will reduce the amount of money we all pay in health insurance premiums. To be blunt- that’s nonsense.

Insurance companies are in business to generate profit and make money for their shareholders. When CEO’s of health insurance companies are raking in millions of dollars a year in salary while thousands of people are uninsured, there’s a significant disparity that should not be ignored.

The next time you talk to someone with ‘activist’ views, ask them about their Picasso painting and how they would feel if it was destroyed and could only recover a minimal arbitrary amount. I guarantee you that they won’t have the same viewpoint after that.