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LeverageRx Publishes 2019 Medical Malpractice Payout Report

1145 Days ago

Omaha, NE, April 01, 2019 (GLOBE NEWSWIRE) -- LeverageRx, a digital lending and insurance broker for healthcare professionals, has released the “2019 Medical Malpractice Payout Report.”

Last year, total malpractice payouts in the United States reached $4.03 billion, a 2.9 percent increase from the previous year. While the number of payouts decreased 1.5 percent, the average malpractice payment grew 4.4 percent in 2018 from the previous year. It was the second consecutive year that overall malpractice payouts have increased.

New York continues to lead the nation in total malpractice payouts and highest per capita, with over $685 million in 2018, an increase of 11.3 percent from the prior year. Meanwhile, Vermont experienced a 486 percent increase in total payout amount, growing from $1,536,500 in 2017 to $9,006,250 in 2018.

Females accounted for nearly 56 percent of total payouts in 2018, whereas males accounted for approximately 44 percent. The 50-59 patient age group saw the highest payout count and payout amount, totaling 2,307 cases for $762,599,700. As for how malpractice payouts were paid, settlements accounted for 96% of all payments in 2018.

The 2019 Medical Malpractice Payout Report is the latest addition to LeverageRx’s resource library for doctors, which includes the “Ultimate Guide to Medical Malpractice Insurance” and “Medical Malpractice Insurance Cost Analysis.”

Sources used for this report

National Practitioner Data Bank Public Use Data File, December 31, 2018, U.S. Department of Health and Human Services, Health Resources and Services Administration, Bureau of Health Workforce, Division of Practitioner Data Bank.

About LeverageRx

LeverageRx is a digital lending and insurance marketplace for healthcare professionals. In addition to malpractice insurance, the online platform makes it simple to compare rates on physician mortgage loans, physician disability insurance and other financial products for doctors. For more information, visit https://www.leveragerx.com/, email hello@leveragerx.com or call (402) 915-2045.

Colin Nabity

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