Liability costs rising: report

Share this article:
Mark Parkinson
Mark Parkinson
Long-term care operators have had to pay 4% more annually in liability costs over the past three years, a new analysis shows.

Costs have soared from just over $1,000 per bed in 2005 to what is projected to be $1,540 in 2013, according to an Aon Global Risk Consulting report. Claim severity projections are $175,000 per bed by 2013.

“This analysis shows costs exploding in states without meaningful, effective medical liability reform,” said Mark Parkinson, the president and CEO of the American Health Care Association, the study's sponsor.

Bright spots: The frequency of claims has stayed the same over the past four years and cases that were settled by arbitration were 21% less costly for providers.
Share this article:

More in News

Long-term care leaders need self-awareness, partnerships to avoid the 'Founder's Trap,' CEO panel advises

Long-term care leaders need self-awareness, partnerships to avoid ...

Strong leaders must be vigilant or they could stifle a company's innovation and growth, a CEO panel said Monday at the 2014 LINK LTC and Senior Living Conference in Chicago.

Coaching sessions reduce hospital readmissions, study finds

An hour-long educational coaching session and up to three follow-up phone calls reduced readmissions by 39% among Medicare patients, a new study finds.

County nursing home weighs heroin addict plan

An Ohio county is evaluating whether 20 beds at its nursing home could be dedicated for heroin addicts during their withdrawal, according to local reports.