Medical Malpractice Attorneys: Insurance Costs and Capped Damages

Within the recent whirlwind of tort reform debates, two topics consistently raised are the rising cost of insurance and the potential of capped damages. Victims of medical negligence, such as patients and their families, do not like the idea of capped damages because there is a possibility that capping damages could prevent victims from being fully compensated. Doctors, on the other hand, are fearful of the rising cost of insurance. This group of people will claim that if a high number of medical malpractice claims reach trial, this will force physicians to acquire more insurance which will be pushed off on to the general public, leading to increased health care costs. Medical malpractice attorneys argue that it is important to strike a balance in the tort reform battle.

Medical Malpractice and Tort Reform

new jersey philadelphia medical malpractice attorneys balance insurance costs capped damages
Some experts maintain that caps on damage awards from medical malpractice cases will reduce the number of “frivolous” lawsuits and therefore decrease the amount of malpractice insurance premiums. Some lawyers will claim that enacting these caps will have a much bigger effect by threatening to take away an individual’s rights to compensation following a preventable medical error. Frivolous lawsuits represent an extremely small portion of lawsuits and it is unlikely that a jury would return a verdict in favor of such a claim.

A second major issue discussed by some experts is that medical malpractice claims are driving up malpractice insurance premiums, causing a rise in health care costs. Medical malpractice attorneys have a different view and associate the increase in malpractice premiums with the sluggish state of our economy. Malpractice costs are less than two percent of total health care spending and therefore not likely the blame for the rise in health care costs in our country.

Medical Malpractice Attorneys in New Jersey and Philadelphia

If you or a family member have recently been the victim of medical negligence, it is possible that you would like to speak with our professionals. Please contact the Mininno Law Office for a free case evaluation, or call for a free consultation at (856) 833-0600 in New Jersey, or (215) 567-2380 in Philadelphia.

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