As a healthcare professional, it is important to be aware of malpractice incidents and procedures, so that your staff and healthcare facilities can provide the best care for your patients. Here are the top 7 medical malpractice facts for New York and the rest of the country.
Doctors and healthcare professionals paid $6.4 billion for medical malpractice insurance in the last decade.
-As of 2010, the average cost of medical malpractice in the United States was about $55.6 billion a year, with $45.6 billion spent on defensive medicine practices to prevent lawsuits.
Patients have 30 months to file a malpractice claim in New York.
-Under the statute of limitations for New York State, a victim has a little more than two years to file a lawsuit. After this period expires, the injured victim loses their right to file a lawsuit to collect damages.
One in eight preventable medical errors that occur in hospitals are sent to trial each year.
-For many defendants, it is cheaper to settle a malpractice suit out of court. Over 90% of malpractice cases are settled out of court.
There are up to 98,000 deaths every year due to medical errors or misdiagnoses.
-Many illnesses that are not diagnosed properly lead to fatalities.
Nearly only 5% of medical malpractice payouts have topped $1 million.
-The average compensation for medical malpractice is around $462,000.
Medical errors cost Americans roughly $17.1 billion each year.
-In 2008, medical injuries were estimated at $3.8 billion.
Punitive damages, or rewards that are meant to punish, were granted in only 1% of medical malpractice cases.
-Large punitive damage rewards are rare, however, New York does not have a limit on how much a plaintiff can recover for pain and suffering, lost wages or other medical malpractice damages.