Social inflation is defined as an increase in claim severity, above what could be anticipated under the usual scope of economic inflation and claim trends.
The impact of “social inflation” in the health care setting is wide-reaching. Medical malpractice juries, swayed by societal sentiments, commonly award hefty damages even in cases where the medicine is defensible. This heaps financial strain on healthcare institutions and professionals, as verdicts start to reflect emotional tugs rather than solid evidence of wrongdoing.
The fear of facing sky-high verdicts also impacts the practice of medicine and the cost of providing care. Consider a health care provider who feels pressured to order unnecessary tests based upon a looming fear of litigation, driving up costs without necessarily improving patient care.
In our work defending health care providers, we go to great lengths to tackle the issue of social inflation from the start. Our primary task is to advocate for fair evaluations of medical care based on evidence, not emotions. By challenging the sway of social inflation, we aim to ensure that verdicts are reflective of the facts of each case and uphold the fundamental principles of justice.
At Waranch & Brown, our seasoned attorneys are prepared to tackle this head on. If you need assistance with a legal matter, please contact us.