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Malpractice Caps Shown to Have No Effect On Medical Costs

The Insurance and Financial Advisor News recently published a story that reiterates the reality that limits on malpractice damage awards have little to no effect on health care costs.

Supporters of the caps typically claim that medical costs will be drastically lowered by limiting the amount of money a jury can award a victim of malpractice, regardless of the injury. However data continues to roll in revealing that claim to be nothing more than a false myth used to push a specific political agenda. In fact, a report by the Congressional Budget Office in 2004 explained that limiting the damage awards, at a maximum, influence healthcare costs by less than one half of one percent.

However, regardless of the truth, many state medical lobbies have effectively passed state laws to create arbitrary caps on damage awards for malpractice victims. For example, Florida has a $500,000 cap for regular doctors and $150,000 caps for emergency room doctors. Investigators into the state explained that over 1/3 of doctors in many area do not even have malpractice insurance. In those cases, the victims of an uninsured doctor likely have no means to receive compensation for the mistakes made and losses suffered.

Our Chicago malpractice lawyers at Levin & Perconti will continue to spread the truth about the need for unfettered access to justice for victims of malpractice. There is no value in the continued push to appease big special interests like insurance companies and the medical lobby at the expense of ordinary citizen victims. Please contact our malpractice attorneys if you or a loved one has suffered injury following a medical mistake.

See Our Related Blog Posts:

New Fact Sheet Explains Recent Medical Malpractice Studies

The Truth About Access to Justice and Medical Insurance Rates