A better system would integrate two types of insurance: “negligence” insurance- purchased by the physician and “bad outcome” insurance – purchased by the patient. A “bad outcome” market would address the unavoidable: the risk that a patient could sustain a complication or less than desirable outcome, even after the absolute standard of care had been followed. It would be akin to insuring a trip to the Caribbean against a low risk but detrimental event such as a hurricane. One of the hard things about medicine is explaining to patients that you can never eliminate 100% of the risk inherent to treatments. Such a market would not only be possible but would communicate a more realistic view of risk of medical interventions.
This is a snippet…best to read the whole thang.