The insurance industry does not earn billions of dollars in profits every year by accident. These companies know exactly what they are doing, and one of the many reasons that they continue to make money is because they understand how to compile, analyze and put data to use such that it protects them in the future. The medical malpractice insurance industry is no different. Reports are generated, trends are analyzed and decisions are made based on information that the industry mines.
One of the many ways that medical malpractice insurance companies analyze their coverage and their progress is to record the different types of injuries that occurred during the previous year that led to payouts to patients. Diederich Healthcare is one such company, and it has published its 2012 data regarding these payouts. Below you will find the top 5 types of injuries that led to medical malpractice payouts during that year, as it is the most recent one with a complete set of data available. These payouts included judgments and settlements.
- Death – 31 percent
Nearly one-third of all medical malpractice payouts involved patients losing their lives. As stated above, these numbers include situations where patients recovered compensation both because of settlements and because of judgments won at trial.
- Significant Permanent Injury – 19 percent
Nearly one-fifth of all medical malpractice payouts in 2012 resulted from incidents during medical care that led to a significant permanent injury. These injuries can include large scars or other types of harm that required additional medical care and the loss of the quality of life.
- Major Permanent Injury – 18 percent
Nearly 20 percent of all medical malpractice payouts in 2012 involved patients suffering major permanent injuries. These types of injuries included the permanent loss of a limb or the permanent loss of some other function of the body.
- Quadriplegic, Brain Damage, Lifelong Care – 12 percent
Approximately one-eighth of all medical malpractice payouts were made in 2012 because the patient who was harmed suffered injuries that were even more severe than those that were classified as major, permanent injuries. Lifelong care is something that most people simply cannot afford without help.
- Minor Permanent Injury – 8 percent
Nearly one-tenth of all of the payouts for medical malpractice claims in 2012 involved patients suffering minor permanent injuries. These injuries are clearly less severe than those listed above, but they still involve necessary adjustments by the people who were wrongfully harmed.
We have been taught from an early age that we should always trust our medical care providers and listen to what they say. While this is generally good advice, these people are human like anyone else and they will make mistakes from time to time. When they do, the costs can be severe. If you or someone you love has been harmed in this manner, contact the New York medical malpractice lawyers at Fitzgerald & Fitzgerald today to schedule a free initial consultation.