Report Shows Medical Malpractice Claims Down – Liability Costs Increase
John Curiel8 months ago
A recent report by patient safety organization CRICO Strategies shows a decline in medical malpractice claims from 2007 to 2016. In that timeframe, claims declined 27% from 5.1 cases per 100 physicians to 3.7 cases. The report compiled 10 years of data involving 124,000 patients.
Obstetricians/Gynecologists See Positive Trend
According to a summary from Business Insurance, the report highlights the decline in malpractice claims against obstetricians and gynecologists, two medical fields known for high claim rates. The report saw a 44% decline in claims in this field with 5.1 cases per 100 physicians.
Medical Liability Costs on the Rise
While malpractice cases have declined over a 10 year period, case management costs have increased. The CRICO report cites an annual 3.5% increase with an average cost of $46,000 per case. There are a number of reasons why costs are increasing. But the report places a large share of the blame on cases featuring multiple defendants and the use of medical professional liability (MPL) insurance.
The report shows a two month decline in the average time malpractice cases are resolved with indemnity, down from 29 months to 27. The report credits the speedy resolution of cases as a major factor in the decrease.
In the 10-year span of the report, average indemnity payments increased 3% per year.
CRICO Strategies is a division of The Risk Management Foundation of Harvard Medical Institutions Inc.
Contact an Experienced Medical Malpractice Attorney
If you or a loved one have been injured due to a medical error, contact Thomas J. Henry. Our firm has a proven track record of winning large cases for severely injured clients for more than 25 years. Thomas J. Henry has the experienced medical malpractice lawyers and the legal and financial resources necessary to properly develop your case. Our dedication and determination is reflected in the record-breaking results we have helped our clients achieve.