In an article in The Westchester County Business Journal by Bob Rozycki on April 2, 2018, he refers to a study done by WalletHub which found New York State as the third worst for doctors. The next two states above New York were Rhode Island and New Jersey. These findings come for the Washington D.C. Personal Finance website by comparing all 50 states and Washington D.C across 16 key metrics including average annual wage of doctors, hospitals per capita and quality of public hospital systems.
One of the biggest problems for doctors working in New York State is the high cost of malpractice liability insurance. New York State is in first place as having the most expensive annual malpractice liability insurance. Following New York was Illinois, Michigan, The District of Columbia and West Virginia. The top least expensive states for malpractice insurance were Nebraska, South Dakota, Wisconsin, Minnesota and Kansas tied for last place with the highest malpractice award payouts were New Jersey, New York and New Hampshire. The states with the lowest payout amounts were Wisconsin, North Dakota, South Dakota, North Carolina and Texas.
According to a medical malpractice payout analysis by Diedrick Healthcare,, New York malpractice insurance payouts in 2017 was $617 million. Pennsylvania was second with a payout of $342 million and New Jersey was third at $267.9 million amount Northeast states.
In January, an agreement was reached among New York Legislators on Andrew Cuomo’s Lavern’s Law that would extend the amount of time a person can file suite for missed cancer diagnosis. Cuomo signed the legislation that would extend the time a patient has to bring a malpractice suit involving cancer from 15 months from the date of diagnosis to 2.5 years. This law is expected to increase the cost of liability insurance. Also making the cost of malpractice insurance high in New York is the amount that New York doctors are paid. New York came in 49th in WalletHub study in wages for doctors. The study found that the states with the highest average wages for doctors and Mississippi, South Dakota, Iowa, Georgia and Tennessee.
If you or a loved one has been a victim of medical malpractice, contact the Law Firm of Dominick J. Robustelli & Associates, PLLC at (914) 288-0800 or at our website of WhitePlains-Injury-Lawyer.com or on our new web name of Robustelli Personal Injury Law NY.com