In 2015, a Medscape study showed that 59% of the 4,000 primary care physicians they surveyed had been named in a malpractice lawsuit. More and more, medical professionals have pulled away from their passion of treating the sick to contend with malpractice cases, even those that have no merit. ven worse, to resolve their cases, many physicians rely on ineffective medical practitioner’s defenses that cost them dearly.The following are some costs medical professionals overlook or underestimate when they rely on an ineffective legal strategy, exclusively.
Expensive, Lengthy Lawsuits
Many lawyers convince their clients that settling is the cheapest and most effective option; however, settling a medical malpractice lawsuit isn’t inexpensive. The average cost of a medical malpractice lawsuit is $425,000, explains Medscape. Additionally, if the case goes before a jury, a settlement can exceed $1 million dollars.
In addition to large settlements, your practice may lose money because you and your staff are tied up in legal proceedings. If you go to court, you aren’t at your practice treating and diagnosing patients. As such, you aren’t making money for your practice.
Damage to Your Brand’s Image
Unfortunately, the fallout associated with being involved in a malpractice lawsuit doesn’t stop once the legal proceedings are over. In fact, many medical professionals sustain significant damage to their brand’s image. Medical professionals, just like you, spend years and thousands of dollars on their marketing efforts to mitigate the damage to their image after a lawsuit. They hire public relations firms, revamp internal processes, and undertake a host of other costly efforts that require time and money, to achieve their former glory.
Not only do malpractice lawsuits affect your practice’s image, but it can also affect how you feel about yourself. Many medical professionals stated they were embarrassed by their malpractice case, even if they won. The emotional toll of your malpractice lawsuit can have an effect on your ability and your confidence years down the road.
What’s the Best Medical Practitioner’s Defense?
Fortunately, there is a better way to handle your medical practitioner’s defense: the ProAdvocate Group. By drawing from 41 years of research and experience in the field, our team can help you make the law work for you. Our process doesn’t require you to spend a fortune, which can jeopardize your ability to sustain your practice.
With our lifetime membership, you have the coverage you need, including coverage for cases that go to the U.S. Supreme Court. Our medical practitioner’s defense is successful because it uncovers illegal or defective practices and the lack of standing by the Texas Medical Board (TMB).
We encourage you to join our ProAdvocate Group today. By purchasing a membership, you get lifetime access to proven strategies that help you overcome the TMB.