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The Shocking Cost of Medical Malpractice

Posted by on Dec 22, 2015 in Health-care costs | Comments Off on The Shocking Cost of Medical Malpractice

One of the health care costs that often get forgotten is medical malpractice, which according to a recent study costs the healthcare system and average of $55.6 billion every single year. The same study from Harvard showed that only a small portion of that goes to medical malpractice settlements, while the rest, approximately $45.6 billion covers the cost of defensive medical practices. When the numbers are crunched, 2.4% of the health care costs are spent on medical malpractice issues.

Professor Michelle Mello said knowing the numbers is important.  “We cannot debate the potential for medical liability reform to bring down health-care costs in any meaningful way without realistic cost estimates. Some of the numbers bandied about in policy discussion were quite imaginative and we wanted a more defensible estimate.”

When it comes to medical malpractice there aren’t any good or easy answers. On one hand, doctors could stop taking some of the preventative measures currently in place, which would reduce the cost of health care. However, if those preventative measures get discontinued, it’s reasonable to expect that there will be an increase in incidents and misdiagnosis, which in turn would mean more medical malpractice suits would be filed against the health care community. The average inpatient medical malpractice settlement is $363,000. When the patient was in an outpatient situation, the average settlement is $290,000.

One of the ways that medical malpractice could be better managed rests on the shoulders of New York attorneys. As New York medical malpractice lawyers quickly prosecute any wrongdoing, it can stop the same issues from recurring with future patients. This will not only prevent the courts from being bogged down by frivolous cases, but it also means the medical community won’t rush to pay settlements even when there isn’t any wrongdoing in an attempt to keep the situation out of the press.

In addition to making sure that the client has a genuine medical malpractice case, the New York medical malpractice lawyer also needs to be realistic when speaking to their client about what will happen and the type of settlement they can reasonable expect.
With the cost of healthcare continuing to put a strain on the U.S. budget and population, it’s reasonable to expect that changes will soon be made to the way that the medical malpractice cases get handled.
In some situations this could mean a decrease in the number of preventive measures the medical community takes, or the change could be stricter rules on how settlements are handled.

12If you feel that you or a loved one has been the victim of medical malpractice, you should act quickly. The best way to handle the situation is seeking out the opinion of a reputable New York medical malpractice lawyer. Based on what they uncover, you can decide whether or not you should pursue a settlement. These attorneys know what it takes to get the settlement you deserve. Not only will you be compensated for losses, but you also could prevent the same tragedy from happening to other patients in the near future.

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