Thanks to a 2003 law capping awards in malpractice lawsuits, insurers have been cutting their rates and Doctors returning to their practices in Texas:
Passage of Proposition 12, also known as tort reform, on Sept. 1, 2003, caused some insurers to consider adjustments to malpractice rates. The state referendum, which placed a cap on jury awards related to malpractice suits, has resulted in attracting more insurance carriers to the state as well as more doctors.
"Last year, we were 'wait and see,' but now we're definitely pleased," notes family practitioner Dr. Robert Vanzant, president of the Harris County Medical Society.
"What's happening is going to help stabilize health care costs in Texas," he adds.
....This marks the third major rate cut for Texas doctors within the past five weeks, according to Austin internist Dr. Howard Marcus, chairman of the Texas Alliance For Patient Access.
The alliance is a statewide coalition of doctors, hospitals, nursing homes and physician liability carriers focused on improving patient care access and passing and preserving medical liability reforms.