How hypothesis testing could slash legal costs
There are 85,000 medical malpractice lawsuits filed annually. Among them, 52,190 are summarily dropped for reasons unknown; 26,860 are settled; 1,190 result in plaintiff verdicts, and 4,760 in defense verdicts. Only 33.3% of these lawsuits are likely to have merit, while 66.7% do not. To make matters worse, only one out of every 37.5 claims reviewed by attorneys is represented, meaning that 3,102,500 other claims are abandoned for reasons known …