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From 1990 through 2020,
the number of medical malpractice
payment reports >$500,000
have risen 544%

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Becker’s ASC Review reports that the majority of providers were named in a medical malpractice lawsuit last year. Becker’s ASC Review also reported a significant increase in medical malpractice payment reports exceeding $500,000,.

This increase can be see as highlighted by data from the National Practitioner Data Base (NPDB) analysis tool producing this chart on the right, showing a 544% rise (1990-2020).

Recent legal judgments have seen historic medical malpractice verdicts, including a $97M verdict in Iowa and a $111M “shock verdict” in Minnesota. These cases underscore the importance of safeguarding healthcare professionals and institutions against malpractice claims, as affirmed by high court rulings holding hospitals accountable for contractor negligence. Regardless of your location, it’s crucial to comprehend the prevailing medical malpractice landscape.

This chart from the NPDB analysis tool illustrates the escalating number of medical malpractice payment reports between 1990 and 2020, showcasing three payment categories: over $2,000,000, $1,000,000 to $1,999,999, and $500,000 to $999,999.

The chart displays three different payment categories:

  1. >$2,000,000 
  2. $1,000,000 to $1,999,999
  3. $500,000 to $999,999

This substantial 544% increase (1990-2020) highlights the complexity of the current medical malpractice risk environment.

Npdb Data Medical Malpractice Payment Reports 1990-2020 Over 500000
From https://www.npdb.hrsa.gov/analysistool/ 6.13.22

Fifth Avenue Agency specializes in medical malpractice and MPLI solutions.

Fifth Avenue Agency offers a comprehensive suite of solutions for medical malpractice and MPLI (Medical Professional Liability Insurance), encompassing traditional and high-risk coverage, as well as self-insured or captive alternatives. Our seasoned team possesses the necessary expertise to assist you in implementing the most suitable solution tailored to your needs in this ever-changing medical malpractice landscape.

In the intricate realm of medical malpractice, access to experts is crucial. Whether delving into the top five common causes of medical malpractice, elucidating the nuances of proof of fault, explaining the FL “free kill” issue or intricacies of long-tail coverage, or navigating the complexities of a “hammer clause,” our team stands ready to guide you. We can help you comprehend your policy limits and evaluate your eligibility for unique premium credits in the medical malpractice domain.

Before procuring medical malpractice coverage, it is imperative to consider a carrier’s top three financial strength factors. Our aim is to ensure that you are equipped with the right coverage, offering you security and peace of mind.

Given the evolving landscape of medical malpractice and the upward trajectory of premiums, partnering with a knowledgeable team of experts is paramount. With 75% of our medical malpractice team possessing over a decade of experience, we are well-equipped to address any medical malpractice insurance questions and ensure that your medical malpractice coverage is meticulously structured.

75% of our Fifth Avenue team has 10+ years of experience

A combined 385+ years of industry experience

We harness the wealth of credentialing data and cutting-edge technology from our affiliated sister companies, 5ACVO and Primoris Credentialing Network, to streamline and expedite the underwriting process. This approach is renowned for its heightened thoroughness compared to conventional methods.

We specialize in delivering comprehensive medical malpractice and medical professional liability insurance solutions tailored to meet the intricate requirements of the entire healthcare sector.

Our client base encompasses a wide spectrum, from individual practitioners to prominent hospitals. Protect your accreditation(‡) by choosing our services, whether you are a nurse practitioner seeking individual coverage or a healthcare system in need of group medical malpractice insurance.

Fifth Avenue Agency operates as a member of the Fifth Avenue Healthcare Services family, a consortium of collaborative sister companies. Our collective synergy is designed to empower you, minimize risks, and expedite revenue generation.

Medical malpractice incidents are deeply distressing for patients and their families,
and they can inflict significant financial harm on a medical practice.

To access valuable insights on medical professional liability and medical malpractice, including the latest trends and topics on credentialing, along with updates on AI and Blockchain technologies in healthcare, updates on COVID-19, telehealth, health plan developments, and our partnership highlights, please explore our comprehensive healthcare blog. Feel free to reach out to us for any inquiries or assistance.

Engaging with our medical malpractice experts at Fifth Avenue Agency and entrusting us with your credentialing needs offers numerous advantages. We are committed to providing help and guidance.

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