Study Finds Medical Malpractice Claim Frequency is Stabilizing

By Cullan & Cullan on November 5, 2013 - Comments off

A joint study recently released by Aon Risk Solutions and the American Society for Healthcare Risk Management (ASHRM) indicated that the rate of medical malpractice claim filing is expected to stabilize throughout the coming year, says a report by Business Insurance.

The hospital professional liability claim frequency is expected to experience no growth for 2014. Additionally, the med mal claim severity annual growth rate is at 2.5%, the lowest rate recorded in 14 years.

An associate with Aon Risk Solutions stated, “This risk appears to be fairly under control and fairly stable.”

According to estimates from the study, in 2014, med mal claims will account for 60 cents of every $100 of hospital revenue. Costs have been significantly brought down due to improved patient procedures and self-insuring on the part of hospitals.

An Aon employee conducted another study regarding high-severity med mal claims with values of more than $2 million. Surprisingly, he found that med mal claim severity for tort reform states is increasing at sharper rates than the general trend.

Unfortunately, medical malpractice still contributes to hundreds of thousands of injuries and deaths each year. Despite this fact, many legislators throughout the nation are pushing for lower settlement amounts, making it harder for victims to get what they need for a full recovery. Medical bills, especially for more serious injuries, can amount to six or even seven figures.

In the state of Nebraska, the medical malpractice claim cap is $1,750,000. This may not be enough to cover the expenses that resulted from your medical malpractice incident. You should get in contact with the experienced Omaha personal injury attorneys who are also physicians at Cullan & Cullan, LLC. We can get you a settlement that completely covers your past and future losses. Contact us today by calling (402) 397-7600.

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