House passes medical liability reform law

04/04/2012

In what will come as good news for the American Medical Association, the House of Representatives recently passed medical reform that could help reduce liability costs for physicians.<br/><br/>As reported by American Medical News, should the bill be approved in the Senate, it would remove the Medicare Independent Payment Advisory Board, which was initially created as a cost-containment measure for Medicare. The AMA has been opposed to the IPAB since its creation, however, saying that the authority given to the IPAB panel would negatively impact consumers&#39; access to care.<br/><br/>&quot;This new, arbitrary system is not what we need when patients and physicians are already struggling with a looming cut of nearly 30% from the broken Medicare physician payment formula,&quot; said Jeremy Lazarus, president-elect of the AMA, according AmedNews. &quot;Ending the ongoing threat of drastic cuts from the physician payment formula and preventing new cuts from IPAB are important first steps to stabilize the Medicare system for patients.&quot;<br/><br/>Despite the bill&#39;s passage in the House, many believe it won&#39;t pass the Senate. In the meantime, physicians may want to ensure they have sufficient professional insurance, as this can help them absorb any costs they may experience from potential lawsuits.