Hospital term insurance/ liability waivers?

Question

Are there any hospitals that allow you to purchase term malpractice or operational insurance and sign legal liabilty waivers? It seems to me that a simple "Sorry for your loss, here's (insert dollar figure here)." beats a long, drawn-out malpractice suit, and would be easier and cheaper for everyone involved. Am I on to something, or am I just stupid?

Answer 1

Interesting idea! It should cap the hospitals liability and doctors liability  which would help lower the health insurance rates.   The problem is that people would never purchase something like this under the current insurance structure and market structure for the following reasons:

1. Nobody wants to pay money to cap their potential reward if the hospital/doctor is negligent.

2. Malpractice insurance is currently paid for by the Doctor/Hospital.

3. The first to try this will be ridicouled by their competitors.

4. Purchasing something like this could interfere with other coverages - If you are lucky enough to have disability coverage, the disability company may want the right to sue the hospital/doctor for your disability if they are the cause of your disability