-Establishes that in any medical malpractice action relating to a medical emergency, the defendant's health care provider shall not be held liable for the payment of damages unless it is established in court that the health care provider's deviation from the standard of care included gross negligence, wanton conduct, or intentional wrongdoing (Sec. 1).
-Establishes that if the plaintiff in a medical malpractice action seeks damages of $75,000 or more, the court shall order separate trials for both the issue of liability and the issue of damages (Sec. 2).
-Defines "noneconomic damages" as damages to compensate for pain, suffering, emotional distress, loss of consortium, inconvenience, physical impairment, disfigurement, and any other nonmonetary, compensatory damage (Sec. 3).
-Establishes that in any medical malpractice action in which the plaintiff is entitled to receive an award of noneconomic damages, the total amount of noneconomic damages shall not exceed $500,000 per plaintiff (Sec. 3).
-Defines "future economic damages" as damages for the future expense for medical treatment, care or custody, loss of future earnings, loss of future household services, and any other future monetary damages of the plaintiff following the date of the verdict or award (Sec. 4).
-Requires the presiding judge in any medical malpractice action to order that the future economic damages of the plaintiff be paid off by periodic payments if the future economic damages award is $200,000 or more and if any party requests it (Sec. 4).