In another blow to physicians, the State of Nevada recently passed AB404, changing the medical malpractice landscape in the state by increasing the caps on noneconomic damages, among other significant changes. 

Beginning next year, on January 1, 2024, the cap on noneconomic damages will increase in Nevada from $350,000 to $435,000 and it will continue to increase annually, by $80,000/year, until it reaches a cap of $750,000 in 2028.  After that, it increases by a flat rate of 2.1 percent a year.  Thus, over the next four years, the cap will more than double, most likely leaving physicians in the state having to pay higher premiums, due to the potential for radically higher payouts in medical malpractice cases. 

In addition, AB404 also expands Nevada’s statute of limitations from one year to two years.  (However, the three-year maximum for undiscovered injuries remains as-is.)  And, the final significant change to come out of AB404 is that the current tiered sliding scale limit on contingency fees for attorneys will be replaced with a flat 35% limit. 

For more detailed information, you can view AB404 here.