Interesting piece in The Economist notes that healthcare tort reform in Texas, which caps damages in most cases at $250,000, hasn’t led to an increase in the number of physicians in the state or reduced healthcare cost trends.
The caps did achieve their direct aim: medical-malpractice claims fell sharply in number, and awards dropped just as sharply in value….But these have failed to bring down overall Medicare costs, a key indicator of medical costs generally.
Of course, Massachusetts-style healthcare reform — the model for ObamaCare — hasn’t bent the cost curve either, The Economist notes:
In reality, incentives must change in American health care across the board, and tort reform is only part of that.
But you knew that already.