Update on subscription rates for consultants
Claims environment for independent consultants and the impact on subscription rates
The frequency with which independent consultants in Ireland are being sued and the cost of settling clinical negligence claims are continuing to increase significantly. Regrettably, this means that the cost of subscriptions must also increase to reflect this additional risk. The new rates will take effect from the date at which you renew your annual membership subscription from 1 July onwards.
Why have rates gone up?
The claims environment against private hospital consultants has deteriorated significantly over the last two years with the actuarial estimates of the cost of indemnity per member increasing by more than 90%. This increase is a result of large increases in both the rate at which hospital consultants are being sued and the average size of those claims, fuelled by large and often disproportionate compensation payments together with ever increasing legal costs.
MPS is acutely aware of the deteriorating viability of independent medical practice for many members and the concern the subscription increases will cause
MPS is acutely aware of the deteriorating viability of independent medical practice for many members and the concern the subscription increases will cause.
MPS makes no profit from subscriptions. As a mutual organisation we are owned by and accountable to our members. The membership subscription that you pay reflects the claims environment and risk faced by your area of practice in Ireland.
We have met and spoken to many members and are in no doubt about the challenges you face which is why we delayed the introduction of the new subscription rates by three months.
We used this three month period to continue to push the government to address the problem and to work with various representative groups to build support for our approach but we could not delay subscription increases indefinitely. We have an obligation to ensure that we collect sufficient subscription income to meet the expected future costs of claims against members so we can be in a position to defend your interests long into the future.
It is clear that the government must address the rising cost of clinical negligence claims. To find out more about what MPS is doing to lobby the government to take action click here >>