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Medical Malpractice Insurance Costs

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What if you or a family member suffers an injury by the negligence of a doctor leaving you paralyzed or having other irreparable injuries caused by medical malpractice? The costs of these life-altering injuries are staggering. Now let’s say that the injuries that you have experienced could have been prevented. How would it be decided how much money you would get for not being able to lead a full life. Also, how much would you need to simply survive? Medical malpractice NYC cases like this happen all the time and deserve more attention.



The economic loss is something that we could actually calculate using the amount of money he was earning in the last few years before the malpractice occurred. An economist could actually project the amount of money you would have received, assuming that you continued in the job you were in and moved up the ladder over time, over the course of your working lifetime. The occurrence of a medical malpractice NYC case could potentially call for a very high settlement due to the income level and cost of living which could be staggering and clearly defined. Also, we can look into to the additional benefits you received, including health insurance, dental, bonuses, vacations and gifts. Again, recognize that these benefits could be calculated and these losses could be predicted over the course of a lifetime. Medical malpractice NYC cases are the most fought-over and litigated matters in the court system.

Now we will focus on the "non-economic loss" to your family. What is his pain and suffering worth- from the time of the malpractice until the time of trial? What has your family endured while watching a once vibrant and successful person turn into a reclusive hermit, physically incapable of doing the simple day to day everything things? What does it mean when your family must now become your nurse 24 hours a day? Every little activity needs assistance. For example, when the phone rings and you cannot race to the phone to see who is calling, you needs help. When the doorbell rings, and it takes you 15 minutes to get to the front door, you needs help. Going to the bathroom is an unpleasant and uncomfortable task.

What is the value of these tragic moments in your life? Going back to the economic loss, do you know how much rehabilitation costs? You may need rehabilitation 5 days a week, need to learn to walk again, need oxygen in your room 24 hours a day, 7 days a week, 365 days a year. How much does continuous oxygen cost? You may need bandages, needles to check his sugar level and insulin injections every day for the remainder of your life. You may not be able to work anymore. How would you support your spouse and child? How will you pay your mounting medical bills if you have no health insurance? How do we, as a society, put a price on the value of your injuries?

Critics of our justice system heavily comment on "tort reform" claiming that frivolous lawsuits are responsible for doctors leaving medicine, high medical malpractice premiums, and an assortment of other perceived ills created by "trial lawyers." Yet we rarely hear how the truly injured victims experience shocking, excessive and appalling economic losses.
Medical Malpractice Insurance Costs
Nothing you do will hold down the cost of medical malpractice. It feels that way sometimes, doesn't it?

Unfortunately, for many risk managers, that's not too far off the mark. What they're doing isn't working.

We can point to other industries, greedy lawyers, insurance companies trying to make up for losses in the stock market. But there's trouble within medical practices too.

A study published in the Archives of Internal Medicine showed that many of the actions risk managers take actually backfire(1). They create more risk and drive up costs.

The problem is not the risk managers. It's myths about medical malpractice that dominate the healthcare industry. Three myths in particular are common and costly.

Myth #1: Medical negligence causes medical malpractice claims

What could be more logical?

It's a conclusion based on common sense and backed by data from two large studies carried out by Harvard researchers over the past 20 years.

One percent of hospital visits end in medical negligence. And the injured one percent are 20 times more likely to claim medical malpractice than are the other 99 percent.

So patients injured through error must drive malpractice claims, right? Wrong.

A recent report from researchers at the Harvard School of Public Health(2) revealed that four of five patients who file medical malpractice claims have not been injured through negligence. And the great majority of patients who have suffered negligent injury don't sue.

Myth #2: Medical malpractice claims are random acts

If medical error doesn't drive malpractice claims, what does? Maybe claims are entirely unpredictable.

They're not though. Injured patients are 20 times more likely to sue than are patients who aren't injured. And there are correlations that are far stronger that we'll discuss in a minute.

Myth #3: Medical malpractice claims are filed by opportunistic patients

Undoubtedly some are. I've heard from risk managers, especially in economically depressed areas, who feel the pinch from patients who literally fall in the parking lot. Personal anecdotes like these though can be misleading.

According to Beckman and colleagues in the Archives of Internal Medicine(3), the reality is that most patients sue because of emotional errors. They feel deserted, feel their views were devaluated, feel that information was delivered poorly, and feel their physician failed to understand their perspective.

And this is why the strategies pursued by many risk managers backfire. They've been led to believe that opportunistic patients take advantage of errors and negligence as an opening to sue. So they follow what seems to be the logical course of action.

They keep the physician from the patient and withhold information. Sometimes they even mislead patients. All of which fuels the patients' feeling of having been wronged.

So what can you do?

Equip your staff, particularly your physicians and risk managers, to treat patients with empathy and respect. Even if they threaten to sue. Especially if they threaten to sue.

The Harvard School of Public Health will tell you that if your aim is to prevent liability loss, you may have more success communicating well and showing patients you value them than you will by reducing actual cases of malpractice

Of course, that's easier said than done. There are two reasons.

First, it's stressful being face-to-face with someone who's upset. Most people intend to be open. But they're afraid it would make matters worse.

Second, though most medical staff are compassionate, they don't know how to express that empathy in a way an upset patient can see. Instead, they try to fix the problem or show the patient the right way of thinking. Which does make matters worse.

My advice? Your best course of action is to get out ahead of the problem. Train your staff to identify patient feelings and needs, and negotiate solutions. So patients feel no need to make claims in the first place.

If that seems like a lot to bite off. Here are some suggestions to get you started.

Train selected staff. Risk management, security services, and social work, work often with upset patients. Focus on staff in these areas to leverage a limited training budget or to model the skills for other employees.

Train selected departments. Some departments, obstetrics and neurology for example, attract medical malpractice suits.

In the case of medical malpractice, the best defense is not a good offense. It's good collaboration. Your goal is to uncover your patients' needs and negotiate solutions that meet their needs as well as the needs of your hospital. And do it in a way your patients can see.
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About Author
Both Paul Justice & Tim Dawes are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Paul Justice has sinced written about articles on various topics from Legal Matters, Finances and Medical Malpractice. Paul Justice gives advice to clients who are looking for attorneys to handle injury related cases such as medical malpractice, automobile accidents. To know more about the services of malpractice lawyer,. Paul Justice's top article generates over 60500 views. to your Favourites.

Tim Dawes has sinced written about articles on various topics from Marketing and Communications, Medical Malpractice. . Tim Dawes's top article generates over 720 views. to your Favourites.
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