Release Date: June 7, 2010

“Many of our experts testifying today agree that New Jersey’s distinction as the state with the seventh highest malpractice insurance rate is one of the contributing factors chasing medical students away from practicing in New Jersey after graduation. These exorbitant rates are also prompting physicians to retire earlier and limit the parameters of their practice to exclude high-risk patents.

 “Furthermore, other states are offering better Medicaid reimbursement rates, more generous loan repayment programs, and prompter payment requirements for HMO’s.  If a new doctor can go to a state like Kansas or Texas and earn three times as much, while also enjoying a lower cost of living, how are we going to entice them to stay in New Jersey?  We need to take a cue from states that have had success in improving their physician retention climate as we move forward in addressing this issue in New Jersey.

 “In the coming weeks and months, we hope to delve deeper into the issue of women’s healthcare and find both long-term solutions to stop this bleeding at the source and short-term solutions to help combat the lack of access here and now,” said Senator Loretta Weinberg (D-Bergen), Senator Diane Allen (R-Burlington/Camden), Assemblywoman L. Grace Spencer (D-Essex), and Assemblywoman Amy Handlin (R-Middlesex/ Monmouth).

 Read entire statement.