Two weeks ago, the Congressional Budget Office released a report that said the Federal government could save $54 billion per year in Medicare and Medicaid expenses if caps were placed on medical malpractice suits (Click to See Full Story: "Tort reform could save $54 billion, Congressional Budget Office says"). Keep in mind, this saving would only apply to that portion of the nation's health care bill that is being picked up by the Federal government.
Now comes another study that supports tort reform.
The Thomas Reuters company has just completed a study and their conclusion is that there is between $500 billion and $800 billion in wasted dollars in our health care system each year (Click to See Full Story: "Healthcare system wastes up to $800 billion a year").
22 percent of this waste is directly due to fraud. Medical mistakes can cost up to $100 billion a year. Other waste exists in the redundant flow of paperwork that could be eliminated if electronic record keeping was adopted and fully implemented.
But, by far, the greatest waste -- 37 percent of the total -- is due to the unnecessary use of procedures and drugs to avoid medical malpractice lawsuits. This number -- somewhere between $200 billion and $300 billion per year --- has a 10-year cost of between $2 trillion and $3 trillion dollars. That, unto itself, would easily pay the cost for any of the health care legislation that is floating around Congress these days. Yet, these Democrats would prefer to protect their personal special interest group, the American Trial Lawyers, and not implement any form of tort reform for medical malpractice suits. Instead, they would have you and I foot the bill for health care reform while those "greedy" trial lawyers keep all their luxury cars, homes, and boats. So much for the Democrats looking out for the "little guy"!