This week, to continue the LRANY video series, we bring to you a video on the medical liability crisis our state is currently facing.
Last year alone New Yorkers paid $127 million to subsidize medical-malpractice insurance. Even with this subsidy, doctors across the state still pay astronomically high amounts for insurance, some as high as $200,000 annually; the highest in the nation by an astounding margin. With doctors in New York being among the most highly skilled and safest in the nation, the high cost is not indicative of the performance of our medical professionals but is a direct reflection of our broken legal system.
Our current system allows for a continuous flow lawsuit abuse often offering mind boggling damages for “pain-and-suffering”. These high costs are forcing facilities out of business and pushing our doctors out of New York to other states where measures have been put in place to help alleviate these cost. Since Since 2000, 19 hospitals throughout the NYC alone have been forced to close their doors, impacting many New Yorkers’ access to health care.
Our state needs to pass true reforms to decrease the cost of medical liability insurance, increase the access to healthcare and stop closures of hospitals.