Does Malpractice cost upwards of thirty thousand a year for a MD?

Question

someone told me that doctors really dont bring home that much money because they pay out so much in malpractice

Answer 1

It depends... malpractice for a neurosurgeon is approximately $106,000 a year, depending on the state. Most neurosurgeons aren't affected that much because the speciality is really high paying ($400,000-$800,000+ per year) but solo practices can be hit pretty hard if the neurosurgeon is new to the area and relies on word of mouth for new patients. In same states malpractice premiums for the higher risk specialities can reach $200,000 a year. This was previously unheard of in the 90s. Doctors are starting to worry though.

That said, most doctors are still comfortably off while surgeons are still bathing in money. This could all change in the next twenty years.

Answer 2

It all depends on what kind of physician you are. OB/Gyn pays a very large amount because of the liability of delivering babies. And yes is true that doctors do not bring home as much as people think. As a resident physician (training) you are paid between $34,000 - 42,000 a year. May sound good but keep in mind that they are working about 80 hrs a week. That does not include the time you spend reading and studying so you do not kill a patient. Average that out and they make less that $10 an hour. All that and most still have school loans to pay off (that can range between $20,000 - >150,000). Once you are done training it does get better but they are not the millionaires everyone thinks they are.

Answer 3

It completely depends on the specialty, plus the doctor's personal claims history (if you get sued, your rates skyrocket)

Some high-risk specialties pay > $100,000 a year JUST FOR THE INSURANCE. They also have to pay their staff, rent, billing company, etc.

It's not a job to go into for the money.

Answer 4

It is very true, and the state of Pennsylvania has the highest rates in the country.

Answer 5

Neurosurgeons and obstetricians that deliver babies pay more than 100K per year for insurance.