CBO Finds That Medicare Malpractice Reform Would Produce Substantial Savings
The CBO responded this week to a request from Senator Orrin Hatch (R-UT) with an updated analysis on the potential budgetary effects of tort reform proposals aimed at limiting the costs related to medical malpractice. The CBO found that by instituting prudent tort reform measures, federal spending would be reduced by $41 billion over 10 years and the federal deficit would decline by $54 billion.
TORT Definition: A tort is a civil wrong for which a remedy (usually money damages) can be obtained by law. It is a breach of the special duty that skilled professionals such as doctors have in excess of the ordinary person. Tort law and insurance regulation are traditionally under the purview of the states.
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