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Medical
Malpractice News
Department Approves Dissolution Plan For Medical Malpractice Insurance Association (Mmia)
Superintendent of Insurance Neil D. Levin announced that the Department has approved a dissolution plan of the Medical Malpractice Insurance Association (MMIA), transferring all old liabilities to the Medical Liability Mutual Insurance Company.
"The Department’s approved plan succeeds in privatizing the obligations of MMIA and does so through the largest writer of private medical malpractice insurance in New York State," said Levin.
The Department was required to approve a dissolution plan by April 30th, that maximizes the value of MMIA to the state, without impairing or impeding the operation of the voluntary medical malpractice insurance market or limiting the access to medical malpractice coverage for health care practitioners or facilities insured by the MMIA.
The Department held a public hearing to review the Department’s proposed plan for the dissolution as well as dissolution plans proposed by other interested parties on March 29th.
In addition, the Department is reviewing proposals regarding distribution to authorized medical malpractice insurers for the insureds of MMIA and health care practitioners and facilities, which will otherwise be unable to secure coverage in the voluntary market. A regulation prescribing a plan for this equitable distribution, which will be the subject of a public hearing to be held at a later date, must be promulgated prior to July 1st.
Drug-switching practices happen and are very dangerous
Another public-spirited drug giant, Merck, was forced to pay a settlement of $1.9 million to 17 states in 1995 for drug-switching practices involving its Medco subsidiary. Medco pharmacists, who had given excessively favorable treatment to Merck products, were thereafter required to reveal their Merck connection to their customers.
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Definition:
A form of discovery in which one party submits a series of written questions to the other party, and to which the latter is bound to answer under oath.
Hearing loss
Definition:
Hearing loss is one of the most common birth defects; about 3-4 in 1,000 newborns have significant hearing impairment. Hearing loss that is present at birth is called congenital hearing loss. Hearing loss can be inherited (genetic) or can be caused by illness or injury.
Medical Practice Act
Definition:
A statute of a US state or jurisdiction that outlines the scope of practice for physicians and the responsibility of the medical board to regulate that practice. The primary responsibility and obligation of a state medical board is to protect the public through proper licensing and regulation of physicians and, in some jurisdictions, other health care professionals.
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