The Medical Society of Virginia, the Virginia Hospital & Healthcare Association, and the Virginia Health Care Association recently commissioned Milliman to estimate the impact of a potential change to the tort environment on physicians’ professional liability and hospital professional liability costs in the state. Specifically, this report estimates the impact of removing the current cap on total damages. Our analysis relies on data from insurance carriers, hospitals and health systems, and public sources. Topics discussed include:
- Summary of results, data sources, and analysis
- Impact to increase in claim frequency
- Nursing home commentary
- Uncertainty
- Public disclosure of results
This report was commissioned by Medical Society of Virginia, Virginia Hospital & Healthcare Association, and Virginia Health Care Association.