Professional Liability Costs for Hospitals and Physicians Continue to Rise, Outpacing Inflation
CHICAGO, Oct. 12 /PRNewswire-FirstCall/ -- Hospitals and physicians should prepare for increasing liability costs, according to the 2010 Hospital Professional Liability and Physician Liability Benchmark Analysis created by Aon Risk Solutions, the global risk management business of Aon Corporation (NYSE: AON), in conjunction with the American Society for Healthcare Risk Management.
In its 11th year, the study confirms an emerging change in the liability environment: The frequency of claims against hospitals has entered a growth phase. Combined with continued claim severity growth, this uptick is expected to drive liability costs up at a rate higher than general inflation.
U.S.-based hospitals are expected to face more than 44,000 claims arising from incidents occurring in 2009, according to the report, with anticipated costs exceeding $8.6 billion. Claims resulting from incidents in two key hospital risk areas, the obstetrics unit and the emergency department, make up more than a quarter of that e