Malpractice premiums are on the rise nationwide, according to Medscape's "The Rising Price of Risk Management: Physicians and Malpractice Report 2024," published Oct. 11.
Annual malpractice premiums reached at least $10,000 for most physicians, according to the report.
Here is a breakdown of average malpractice premium costs for employed and self-employed physicians:
Less than $4,999
Employed: 12%
Self-employed: 13%
$5,000-$9,999
Employed: 25%
Self-employed: 22%
$10,000-$14,999
Employed: 18%
Self-employed: 26%
$15,000-$19,999
Employed: 15%
Self-employed: 10%
$20,000-$24,999
Employed: 18%
Self-employed: 9%
$25,000-$29,999
Employed: 4%
Self-employed: 7%
Greater than or equal to $30,000
Employed: 8%
Self-employed: 13%