In: Economics
Critics of malpractice suits claim that they have contributed significantly to the rise of medical costs and want legislation that would limit the size of awards and lawyers’ fees, or otherwise discourage such suits. Many lawyers are concerned that any such legislation would impair the rights of victims of malpractice to be justly compensated for the damages they have suffered. Discuss the equity-efficiency trade-offs. What do you think should be done?
Equity-Efficiency Trade Off:- An equity-efficiency trade off results when increase in the productive efficiency of a market leads to a decrease in its equity as in how equitable its wealth is given out. The debate around the trade off often centre on addressing growing economic inequality within a country or region where the economy and GDP are increasing.
Medical Malpractice:- Medical malpractice law in the United States is obtained from English common law and was expanded by ruling in various state courts. It is designed to motivate extensive discovery and conferencing between adversarial parties with the goal of resolving the dispute without going to jury trial.
Some tips for improvement in Medical Malpractice:-
1. Screening claims at the outset of litigation.
2. Medical expertise and claim selection.
3. Screening panels.
4. Certification.
5. Determining liability at trial.
6. Jury determinations of liability
7. Proposal for medical courts.
8. Alternatives for improving liability determinations.