Fifty-two percent of paid medical malpractice claims between 2013 and 2022 alleged a procedural error. The second most common medical error alleged was a diagnostic error (30%). Diagnostic errors accounted for an average indemnity payment of $428,000; procedural errors accounted for an average indemnity payment of $331,000.
The medical speciality with the highest average indemnity payment by verdict was otorhinolaryngology ($2,541,000), followed by neurological surgery ($1,698,000), cardiovascular and thoracic surgery ($1,323,000), and OB/GYN surgery ($1,095,000).
The average medical malpractice indemnity payment by injury severity was 30% for moderate injury, 26% for death, 24% for severe injuries, and 20% for mild injuries. The average indemnity payment by verdict was highest for severe injuries ($1,343,000).
The highest average indemnity payment by verdict was for breast cancer ($496,000), followed by cardiac arrest ($377,000) and accidental puncture ($354,000).
The highest average medical malpractice indemnity payment by verdict by age was for 0-21 ($1,121,000). The lowest was for those age 70 and above ($506,000).
Medical Malpractice Megaverdicts
2023 saw the highest number of medical malpractice megaverdicts than in any previous year – more than one-half (57) were over $25 million. An industry group has an explanation for the increase: “Increasing social inflation, a changing jury pool, the rising influence of generative AI, and the coming retirement wave of experienced MPL [medical professional liability] defense attorneys may all play a role in increasing severity, in addition to numerous other factors. As the backlog of cases from the COVID-19 pandemic court closures continues to clear, more cases are going to trial and/or reaching settlement.”
Nonetheless, medical malpractice insurers apparently have not suffered financially from medical malpractice megaverdicts: “In many ways, the trajectory of 2023 was similar to 2022 for the medical professional liability (MPL) industry. Direct written premium continued its slow trek upwards, the combined ratio remained virtually unchanged, prior-year reserve releases demonstrated a minor increase, and policyholder dividends remained constant. However, investment performance improved and surplus recovered after a dip in 2022, leading to a slightly better year for the MPL industry in 2023 when compared to 2022.”
“Direct written MPL premium for the composite grew by 1.5% during 2023 and reached nearly $4.6 billion, which is the highest overall MPL premium volume since 2007 … The 1.5% growth in 2023 was similar to the growth experienced during 2022. While MPL premium growth appears to have stalled somewhat over the last two years after significant increases in both 2019 and 2021, the industry may still view this as a welcome sight after a decade straight of year-over-year premium decreases from 2007 through 2016. The annualized increase in direct written premium has been approximately 2.7% since it began its ascent in 2017.”
If you or a loved one may have been harmed as a result of medical malpractice in the United States, you should promptly find a medical malpractice lawyer in your state who may investigate your medical malpractice claim for you and represent you or your loved one in a medical malpractice case, if appropriate.
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