- In 2024, the top 50 medical malpractice verdicts averaged $56 million. (AMA)
- Potential explanations for the rise include corporatized medical care, higher initial demands, and economic inflation.
- High settlement awards are often justified due to the extreme nature of medical negligence and its long-lasting impacts on victims and their families.
Medical malpractice settlements are getting larger, but why? As the nation sees more “nuclear” and “thermonuclear” verdicts than ever before, it begs the question: what are these figures based on? Who needs tens of millions of dollars in financial restitution?
We explore the potential reasons why malpractice victims are generously compensated below and what you can do if you or a loved one were harmed by medical negligence.
Understanding “Nuclear” and “Thermonuclear” Verdicts
In 2024 alone, the average amount of the top 50 medical negligence awards was $56 million per claim, according to the American Medical Association. In 2023, the average was $48 million per claim, and in 2022, the average was $32 million.
This means that “nuclear verdicts” (settlements over $10 million) and even “thermonuclear verdicts (settlements over $100 million) are increasing, and juries are awarding catastrophic damages to a greater extent.
Potential Explanations for the Rise
Economic Inflation Is High
Data shows that the cumulative rate of inflation since 2020 is nearly 30%. This impacts the price of everything from goods to services and more. Those rising costs directly affect settlement values since the financial losses tied to malpractice are more expensive than they were just a few years ago.
For example, a $50,000 hospital bill in 2020 now costs over $64,000. When you apply that to other expenses associated with a malpractice claim, such as prescription medications, in-home assistance, future procedures, and lost wages, it’s easy to see how today’s malpractice settlements need to be much higher.
It’s also important to consider how ongoing inflation might impact the cost of future medical care and lost wages. A victim’s settlement not only needs to cover their past healthcare expenses but also what they’ll incur in the future as they continue to receive treatment.
Furthermore, it should compensate victims for what they would have earned, including raises, bonuses, and promotions they will miss out on. A malpractice claim needs to account for all of this, but not at today’s prices. Instead, the settlement should reflect what those things are anticipated to cost as time goes on.
COVID-19 Impacts on Healthcare Still Affect Patients
Even though the COVID-19 pandemic occurred several years ago, its impact continues to influence medical care today. During and after the pandemic, many healthcare workers left bedside care, leaving hospitals with staffing shortages and strained resources. This makes malpractice a more common occurrence and results in more severe consequences for victims of medical errors.
Medical mistakes can easily lead to longer hospital stays, additional procedures, and greater future healthcare needs, all of which raise the base cost of a malpractice claim.
Pain and Suffering Are Being Taken More Seriously
Over time, the public opinion of the pain and suffering associated with medical negligence has shifted. Although difficult to quantify, these aspects are now being taken more seriously, and juries have a better understanding of how things like physical pain, emotional distress, and loss of independence actually impact victims.
As a result, they are often more willing to award higher damages that reflect the lasting emotional and physical toll of malpractice.
Read more about calculating pain and suffering in a medical malpractice claim.
Malpractice Is a Public Health Risk
Medical malpractice does more than harm individual patients. It can also put public health at risk by allowing unsafe practices and preventable errors to continue. When at-fault parties aren’t held accountable, the same mistakes can happen again and impact other patients.
Higher malpractice settlements aim to create stronger financial consequences for negligence to encourage providers and facilities to improve training and safety protocols.
Punitive Damages May Play a Role
Although rarely awarded in Ohio, punitive damages may be included in a malpractice claim if a physician’s or hospital’s error was especially egregious. They are meant to punish especially wrongful conduct and discourage similar behavior in the future.
These damages are also capped at twice the amount of compensatory damages. This means that if you are awarded $500,000 for medical expenses and emotional distress, you cannot receive more than $1 million in punitive damages.
Read more about punitive damages in medical malpractice cases.
Do You Have a Medical Malpractice Claim? Get the Settlement You Deserve
If you or a loved one were the victim of negligence in a hospital or physician’s office, our Ohio medical malpractice lawyers can help. As soon as you get in touch with us, we go to work to protect your rights, preserve evidence, and advocate for you to get the maximum settlement available in your case.
Contact us for your no-cost, no-obligation case evaluation or to learn more about how we can fight for you. Call (440) 333-3800 or get in touch online today.