Medical Malpractice Claims Costs
The average cost of medical malpractice claims has been on the rise since 2009. While there was a decrease in cost during the pandemic, largely due to cases being placed on hold, it is predicted costs will return to and likely exceed previous years’ levels. Much of this increase can be attributed to outlier verdicts or “nuclear” verdicts as the number of claims were not rising in parallel to severity (cost); however, frequency increases are expected in the near future. With increase in claims costs, ongoing and emerging difficult venues, lack of tort reform, an aggressive plaintiff bar, social and financial inflation, consolidation within healthcare and the use of new technology and care delivery methods, insurers are facing unprecedented challenges in predicting the market. While costs continue to increase and nuclear verdicts continue to be unpredictable, top allegation trends continue to remain the same: diagnosis error and improper performance. Practice and ASC focus on risk management is more important than ever in this market.
It is important that practices and ASCs understand their claims data and the claims trends within their industry. Utilizing this data to identify and mitigate operational and clinical gaps and variability is important to managing risks that can lead to safety concerns, medical malpractice claims, complaints and accreditation/licensure deficiencies. Loss runs, complaint databases and patient satisfaction survey responses are readily available tools that can be utilized to identify gaps and trends.
Ortho Risk Partners staff can assist in establishing a process and providing data to identify and address trends within your practice and/or ASC. Contact Julie Jines to learn more or gain assistance at [email protected] or (618) 223-9596.
Telephone Triage and Phone Call Documentation
Giving medical advice over the phone is legally considered medical practice and creates liability exposure because the advice is given without physically assessing the patient. Potential risks include failure to treat and delayed treatment. Using standard protocols, detailed documentation and licensed professionals are great ways to reduce liability with telephone triage.
Our Ortho Risk Partners insurance provider, MagMutual, provides practical advice for reducing liability exposures with telephone triage in the article: How to Establish Effective Telephone Triage for Medical Practices
We encourage practice and physician leaders to review the article and evaluate their internal process to mitigate risks associated with telephone triage and phone call documentation.
Contact Julie Jines to learn more or gain assistance at [email protected] or (618) 223-9596.
What’s New?
With its rebranding earlier this year, Ortho Risk Partners launched its website. Phase two (third quarter 2022) will include a member area to house our risk management resources and continuing medical education programs. Resources will include sample policies and procedures, forms/tools and articles to utilize within the practice and ASC environment to address common and trended operational and clinical risk management issues. Our inaugural continuing education program format will be on-demand case reviews and scenarios presented by our members that include lessons learned and strategies to reduce risk related to allegations of improper performance, diagnosis error, complications of treatment and medication errors. These allegations trends have been identified in the Ortho Risk Partners claims data and are aligned with industry-wide claims trends as well.
The next year will also bring the launch our our podcast. The podcast will focus on new and emerging trends in orthopedics. The podcast will be moderated by Ortho Risk Partners and panels will include our members and industry experts.
If you are interested in presenting your claims/suit experience via a CME program or participating in a podcast, please let us know via [email protected].
