Robert E. White Jr. is the President of The Doctors Company. He believes "social inflation will affect malpractice insurers."
We asked our readers and some members of our editorial advisory board to make predictions for 2024. Here's what Robert E. White Jr. had to say:
“Social inflation occurs when an insurer’s average claim amount grows faster than the overall inflation rate. Over the decade ending in 2021, social inflation has led to losses estimated to be between $2.4 billion and $3.5 billion — 8% to 11% — of all medical malpractice losses incurred by physician- focused insurers. The rapid uptick began in 2019. People are sympathetic to injured patients. Jurors also relate to credible, empathetic medical professionals, but it can be harder to evoke sympathy for a hospital.
As these cost trends continue, medical professional liability carriers may have to increase their rates to keep up with the losses. Therefore, although social inflation hits insurers first, it affects practices’ premiums.”
Global Experts Redefine Care for Women Diagnosed With Premature Ovarian Insufficiency
December 13th 2024The new guidelines consist of 145 recommendations for treating and managing premature ovarian insufficiency syndrome, which affects an estimated 4% of women under the age of 40 worldwide.
Read More
Breaking Down Health Plans, HSAs, AI With Paul Fronstin of EBRI
November 19th 2024Featured in this latest episode of Tuning In to the C-Suite podcast is Paul Fronstin, director of health benefits research at EBRI, who shed light on the evolving landscape of health benefits with editors of Managed Healthcare Executive.
Listen
In this latest episode of Tuning In to the C-Suite podcast, Briana Contreras, an editor with MHE had the pleasure of meeting Loren McCaghy, director of consulting, health and consumer engagement and product insight at Accenture, to discuss the organization's latest report on U.S. consumers switching healthcare providers and insurance payers.
Listen