Unpacking the Financial Implications of Medical Malpractice
Understanding the financial environment of medical malpractice is essential for physicians. How might the costs associated with medical malpractice cases affect your business? Discover significant takeaways and risk-management techniques from a recent, high-profile case.
- Dr. Greg Naman, owner of Epic Primary Care, was initially ordered to pay $3.1 million to the plaintiff and $810,000 in attorneys’ fees in a recent malpractice case.
- Medical malpractice representation often costs significantly more than other legal specialties, with the average hourly rate for plaintiff malpractice attorneys in Michigan being $621.
- Naman argued that the initial $810,000 in attorneys’ fees would have forced him to close some locations of Epic Primary Care, impacting many patients.
- The case highlighted the intersection of malpractice and underserved communities, with allegations of racially motivated neglectful care.
- Michigan’s trial laws can exacerbate the cost of malpractice suits, holding a party responsible for the other party’s attorneys’ fees under certain conditions.
- Accepting a settlement in a malpractice case is not an admission of malpractice, but a strategic decision to avoid the time, cost, and stress of a trial.
- A malpractice claim can raise insurance premiums, but risk can be reduced by focusing on patient safety, communication, and detailed documentation.