Medical Malpractice Settlements

The process of obtaining full compensation for medical malpractice can be difficult. Patients who suffer from malpractice must bargain with the doctor who was accused and their insurance provider legally known as the defendants.

Victims should be compensated for their losses however, how do judges and juries calculate a case's value? This article will explore some of the most important factors to consider when settling a malpractice claim.

Damages

In general, a medical malpractice settlement is composed of two distinct types of damages: economic and non-economic. Economic damages are based upon the possibility of calculating losses, such as medical bills and future costs. Non-economic damages include the pain and suffering of others, disfigurement and loss of enjoyment of living.

Your attorney and you will consult with financial experts and economists in order to determine the worth of your damages. For example, if you are permanently disabled as a result of negligence by a doctor and you are unable to work, the value of your future income loss must be calculated too. This is referred to as present value and is a complicated calculation your lawyer will employ an expert to assist.

It is therefore crucial to work with a medical negligence attorney with prior experience on your side. You could be entitled thousands or millions of dollars in compensation based on the severity and the extent of your injury.

Many types of medical malpractice carry an amount of money that is high in settlement, including missed diagnosis, prenatal mistakes that result in maternal suffering as well as minor surgical errors. Certain malpractice cases have lower settlement amounts. These include minor surgical errors or allergic reactions that can be treated with medications. These types of injuries are less likely to lead to permanent disability, and therefore don't warrant the same level of compensation as a more serious injury that will require continuous treatment.

Costs for litigation

In any malpractice attorney case there are a variety of factors which affect the value a settlement for medical malpractice. These include economic damages which are the cost of your future and past expenses resulting from the medical malpractice case, as well as non-economic damages.

The former covers the cost of any medical bills that you've been able to pay, the anticipated costs of future medical treatment and any loss of wages resulting from time off from work due to your injury. The latter refers to compensation for the pain, suffering, and reduced quality of life that you've suffered as a result of negligence that caused your injury. Non-economic damages are determined by the severity of an injury. This is determined using the severity multiplier (also called a multiplier), which can range between two and five.

Although it could appear as if malpractice lawsuits are dragging doctors to court for malpractice lawsuits frivolous claims however, the reality is that malpractice suits amount to only 0.3 percent of healthcare costs and are necessary to ensure that patients receive the medical treatment they deserve. The majority of medical malpractice cases are settled out of court with attorneys computing a reasonable monetary settlement.

The where you filed your claim will also affect the value. State laws determine the value minimum for a medical malpractice claim. Jurors in Baltimore City, Prince George's County and Montgomery County, for example are more favorable to victims of medical negligence.

Attorney's Fees

In the majority of medical malpractice lawsuits the lawyer you hire will be paid on the basis of contingency. The lawyer will not be paid until you receive a settlement, verdict or award via negotiation or trial. This is a great option to get high-quality legal representation without the upfront costs that come with hiring an attorney.

If a malpractice lawsuit is successful, your lawyer will be charged a specific percentage of the amount that you receive in compensation. It's usually 33% but can vary depending on your lawyer's experience and ability. Your lawyer's interests are aligned since they only get paid if they can recover your money. They will always strive to maximize the amount you will receive from your malpractice settlement.

This arrangement could be beneficial to certain victims, but it can be detrimental for those dealing with medical malpractice cases. Having a fee arrangement that is a battle between the financial interests of lawyers against the interests of their clients is inherently unbalanced for the relationship between the lawyer and client. This kind of fee structure provides an incentive for lawyers to tell clients to settle their cases for less than what they are worth. This can be detrimental to many clients.

Settlements Outside of the Courtroom

Despite what you might see on TV, almost 90% of all malpractice cases that are able to settle out of court with the assistance of lawyers who determine a reasonable financial amount. This is because insurance companies tend to settle outside of court than to go through costly litigation.

During the medical malpractice settlement negotiations, injured claimants seek compensation for both economic and non-economic damages. Economic damages are a way to cover the past and future medical expenses including any medications and rehabilitation therapy costs. The damages also pay for lost wages resulting from time away from the workplace because of it.

Non-economic losses, on the contrary, focus on mental anguish and loss of quality of life. Mental anguish can include extreme emotional distress that can result in post-traumatic stress disorder, apathy depression, and anger. Loss of Quality of Life is the inability to exercise or sleeping, or maintaining healthy relationships.

Many doctors and insurers believe that malpractice claims are creating an unjust trend of rising settlement awards. However, research and statistics reveal that medical negligence claims are only 0.3 percent of healthcare expenses.

A settlement without a court hearing permits the victim to retain their privacy, and prevents public disclosure of what happened. In contrast going to trial could force the victim to recall the events that they went through and could expose them to harsh judgments from other people. This makes the decision to settle a case outside of court an important decision that every victim should carefully consider.