JOURNAL ARTICLE

Medical malpractice payouts are ballooning—and insurers are warning it will cost patients.

  • Published In: Fortune.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: White, Robert 3 of 3

Abstract

The article focuses on the significant increase in medical malpractice verdicts in the U.S. from 2013 to 2023, particularly those awarding $10 million or more, with a notable rise in average awards. Despite the high dollar amounts, the frequency of claims is either flat or decreasing, a phenomenon attributed to "social inflation," which describes the rising costs of resolving malpractice claims due to various social and economic factors. This inflation not only raises healthcare costs but also encourages defensive medicine practices among healthcare providers. The article suggests that tort reform, including damage caps, could help mitigate these issues and reduce the financial burden on the healthcare system and patients. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2024/07, pN.PAG
  • Document Type:Article
  • Subject Area:Health and Medicine
  • Publication Date:2024
  • Accession Number:178255942
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