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An Empirical Assessment of Early Offer Reform for Medical Malpractice

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  • Joni Hersch
  • Jeffrey O'Connell
  • W. Kip Viscusi

Abstract

The early offer reform proposal for medical malpractice provides an option for claimants to receive prompt payment of all their net economic losses and reasonable attorney fees. Using a large sample of closed individual medical malpractice claims from Texas supplemented by data from Florida, this article provides an empirical assessment of the consequences of the early offer reform. Noneconomic damages make up about two-thirds of paid claim amounts. The minimum payment amount for serious injuries will affect the magnitude of insurer savings and claimant compensation. Payments to claimants will be expedited by 2 years by the early offer reform, and litigation costs will be reduced by an average of $100,000-$200,000 per claim. (c) 2007 by The University of Chicago. All rights reserved..

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File URL: http://www.journals.uchicago.edu/doi/pdf/10.1086/519464
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Bibliographic Info

Article provided by University of Chicago Press in its journal The Journal of Legal Studies.

Volume (Year): 36 (2007)
Issue (Month): S2 (06)
Pages: S231-S259

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Handle: RePEc:ucp:jlstud:v:36:y:2007:i:s2:p:s231-s259

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Web page: http://www.journals.uchicago.edu/JLS/

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Cited by:
  1. Zhou, Jun, 2010. "The Timing of Out-of-Court Settlements Revisited: Theory and Cross- Sectional Evidence from Texas since 1988," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 347, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  2. Thomas J. Kniesner & Andrew Friedson, 2011. "Losers and Losers: Some Demographics of Medical Malpractice Tort Reforms," Center for Policy Research Working Papers 132, Center for Policy Research, Maxwell School, Syracuse University.
  3. Felli, Leonardo & Koenen, Johannes & Stahl, Konrad O, 2011. "Competition and Trust: Evidence from German Car Manufacturers," CEPR Discussion Papers 8265, C.E.P.R. Discussion Papers.
  4. Zhou, Jun, 2010. "Determinants of Noneconomic Damages in Medical Malpractice Settlements and Litigations: Evidence from Texas since 1988," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 348, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.

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