|By PR Newswire||
|February 19, 2013 09:00 PM EST||
TALLAHASSEE, Fla., Feb. 19, 2013 /PRNewswire-iReach/ -- With Florida facing skyrocketing Medicaid bills and surmountable deficits, a new study finds replacing the Florida medical liability system with a no-blame, administrative Patients' Compensation System could annually save $1.4 billion for Florida's state share of Medicaid.
Defensive medicine occurs when physicians order more tests and procedures than are medically necessary to keep from being sued. The annual cost of defensive medicine in Florida is estimated at $30 billion, with taxpayers picking a $5.2 billion portion of the tab through Medicaid.
The actuarial study, released by the international healthcare economics firm BioScience Valuation, found that doctors would scale back the practice of defensive medicine if the medical tort system was replaced with a no-blame, administrative compensation system.
Without the constant fear of being sued, physicians would choose the best healthcare for their patients, resulting in fewer unnecessary tests and procedures. BioScience estimates doctors would reduce the practice of defensive medicine by 30 to 70 percent under a Patients' Compensation System.
"There is no single effort that could reduce the cost of healthcare as dramatically as eliminating the practice of defensive medicine" Dr. Lee Gross, treasurer of Charlotte County Medical Society. "If Florida lawmakers embrace this model, they will bring enormous healthcare savings to taxpayers and our state budget."
Under a Patients' Compensation System, a patient who was medically injured could file a claim for review by a panel of expert practitioners. If that panel deemed the injury was "avoidable," the claim would be forwarded to a Compensation Department to award compensation.
This would create a predictable model where patients are assured their cases would be heard. Injured patients would have access to justice. And unlike the current tort system, low-value claims would be heard. The system would provide more injured patients compensation. They would receive predictable settlements in much faster time. Doctors would know they wouldn't be hauled into court for frivolous reasons.
Among highlights of the BioScience Valuation report:
- Annual cost of defensive medicine in Florida is estimated at $30 billion, an estimated 26 percent of total Florida health care costs (based on a survey by Gallup).
- Annual cost of defensive medicine is almost $7.5 billion for Florida Medicaid.
- With an effective no-fault, Patients' Compensation System, first year savings for Florida's state share of Medicaid could be $340 million; that number may grow to annual savings of $1.4 billion after five years.
- Yearly overall savings for Florida Medicaid are each expected to be in the order of $780 million in the first year and more than $3.9 billion annually after five years.
- Long-term, Florida Medicaid could achieve overall savings exceeding $45 billion over a ten-year period, of which $16.8 billion would be Florida's state share of Medicaid.
To access the full report from BioScience Valuation, visit: http://www.patientsforfaircompensation.org/landing-pages/fl-economics-of-defensive-medicine/
About Patients for Fair Compensation
Patients for Fair Compensation is a 501(c) 4 organization seeking to replace our broken medical liability system with a no-blame, administrative system. The Patients' Compensation System will lower healthcare costs by eliminating the practice of defensive medicine, saving up to $650 billion per year nationally in unnecessary costs. By assuring access to real justice for injured patients and increasing patient safety, the system is one that works for patients and our economy. Visit http://www.patientsforfaircompensation.org for more information.
SOURCE Patients for Fair Compensation
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
Dec. 28, 2014 10:00 AM EST Reads: 2,478
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
Dec. 28, 2014 10:00 AM EST Reads: 1,930
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
Dec. 28, 2014 09:45 AM EST Reads: 1,928
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
Dec. 28, 2014 09:00 AM EST Reads: 1,388
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
Dec. 28, 2014 08:30 AM EST Reads: 2,005
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Dec. 28, 2014 08:30 AM EST Reads: 2,244
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Dec. 28, 2014 08:00 AM EST Reads: 2,729
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
Dec. 28, 2014 05:45 AM EST Reads: 2,309
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 28, 2014 05:30 AM EST Reads: 1,880
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
Dec. 28, 2014 05:30 AM EST Reads: 1,926
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Dec. 28, 2014 04:00 AM EST Reads: 2,528
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
Dec. 28, 2014 03:45 AM EST Reads: 2,814
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Dec. 28, 2014 03:30 AM EST Reads: 2,602
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Dec. 28, 2014 03:00 AM EST Reads: 2,090
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 07:45 PM EST Reads: 2,057