In view of IMA waking up to demand government to alter the new formula Discovered by courts to fix amount of compensation in a case of medical negligence. Can anyone suggest the new formula For award of compensation in case of medical negligence bu Indian Doctors.
The present Formula being used is as below (copied from Docplexus news); "The apex court has also evolved a new formula for calculating the loss of income of the deceased to be paid as compensation by the doctors, which is 70 - age at death x annual income + 30 per cent inflation - 1/3rd as personal expenses." leading to recent award of compensation ranging from 1.5 to 12 crores to Victims' Family.
