The managing attorney for claims and litigation at Johns Hopkins attributed the hospital’s 30 percent reduction in expense payments for malpractice in 2003 at least in part to the new policy it adopted in 2001. The new policy, as described in Constance E. Bagley, Winning Legally: How to Use the Law to Create Value, Marshall Resources, and Manage Risks (Harv. Bus. School Press 2005) at 61, was to “encourage doctors to be candid about their errors and to apologize to injured parties.”
Please let me know if “We’re real sorry” reduces your legal costs.