VI. Conclusion

Patient compensation funds represent one form of medical malpractice liability reform, but historical experience, empirical data, and the very nature of these funds suggest that they are not the most effective way for a state to address its medical malpractice liability and insurance problems. Other reforms, such as caps on non-economic damages, have been found to be better loss alleviators and market stabilizers. State administration of PCFs has a historically checkered record, and the establishment of a PCF faces a host of structural problems that are not easily overcome. Finally, the State of Missouri currently has numerous companies writing policies for physicians in the state as well as a Joint Underwriting Association to ensure that coverage is available. For these reasons, in its attempt to improve the medical liability climate within its borders, the State of Missouri should seek more effective and direct solutions than those offered by a patient compensation fund.