Connecticut hospitals are feeling the benefits of the overall push to provide higher quality patient care through reduced malpractice insurance costs, according to the Hartford Business Journal.
According to reports, the nearly 30 acute-care hospitals throughout the state spent a total of $119.9 million on medical malpractice insurance premiums in fiscal 2012, which is down from the two previous years. The savings reflect better quality of care and a relatively competitive insurance market.
According to reports, malpractice-related costs have dropped in other states, including New York. But, it is too early to tell whether this trend will continue to spread. According to a new study by the RAND Corp., the Affordable Care Act may increase medical malpractice suits up to 5 percent as more people become insured. This may impact malpractice premiums.
Malpractice costs have raised concerns in the medical communities across the country. Voters in California, for example, will decide later this year if the $250,000 cap on non-financial damages will increase. The limit has been in place since 1975.
The good news for patients in Connecticut and elsewhere is that doctors and other caretakers are working towards a higher standard of care. And, even if this effort is partially financially driven, patients will still benefit.
But, that being said, mistakes still occur. If you feel that you have suffered injury as a result of a medical mistake, you should contact an attorney to find out if you qualify to recoup damages. You may be eligible to recover economic and noneconomic damages.