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Medical Malpractice Settlements

The process of obtaining full compensation for medical malpractice isn’t easy. Patients who suffer from malpractice must negotiate with the accused doctor and their insurance company, legally referred to as the defendants.

Victims deserve to be compensated for their losses however, how do juries and judges evaluate the value of a case? This article will discuss the key factors that affect an agreement for a malpractice settlement.

Damages

Generally, a medical malpractice settlement is made up of two distinct types of damages both economic and non-economic. Economic damages are based upon tangible losses, like medical bills as well as future costs. Non-economic damages include pain and suffering as well as disfigurement and loss of enjoyment of living.

When negotiating a medical negligence settlement with your attorney, you will work with economists as well as other financial experts to determine the worth of your damages. If you are permanently disabled because of an error by a doctor, the value of future lost income is also determined. This is called present value and is a complex calculation that the lawyer will assign an expert to assist.

In this regard, it is essential to have an experienced medical malpractice attorney to represent you. You could be entitled to thousands or millions of dollars in compensation depending on the severity and the extent of your injury.

Many kinds of medical malpractice cases have a high settlement value which includes misdiagnosis, prenatal mistakes that result in maternal suffering, and minor surgical mistakes. Certain malpractice cases are, however, less expensive settlement amounts. This could be due to allergic reactions that were resolved with medication or a minor error during surgery when the injury wasn’t significant. These types of injuries are less likely to lead to an ongoing disability, so they do not warrant the same amount of compensation as a more serious injury that requires regular treatment.

Costs of litigation

Like all malpractice cases there are a myriad of factors that determine the value of a settlement for medical malpractice. Economic damages refer to the cost of past and future expenses due to the malpractice incident. In addition, non-economic damages are included.

The first one includes any medical bills that you have paid and the cost of future medical treatment, and any loss of earnings due to absence from work as a result of your injury. The latter is compensation for the suffering, pain and reduced quality of life that you have endured due to the negligence that led to your injury. Non-economic damages are usually determined by the severity your injury and is determined using a severity factor (also called a multiplier) that varies between two and five.

While it might seem that malpractice lawsuits are dragging doctors to court for frivolous claims however, the reality is that malpractice suits only account for 0.3 percent of healthcare expenses and are vital to ensure that patients receive the medical treatment they deserve. Most medical malpractice cases are settled outside of court with attorneys calculating an acceptable amount of money.

In addition to state laws that establish the minimum value of a medical malpractice claim, the location in which your claim is filed can impact the value of your case. 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 most medical malpractice cases the lawyer you choose to work with will be on a contingent fee basis. This means that your lawyer will not be paid until they are able to negotiate a settlement or verdict for you, whether through negotiations or trial. This is an excellent method to obtain top-quality legal representation without having to think about the upfront costs of hiring an attorney in a typical case.

If a malpractice case is successful, your lawyer will be charged a specific percentage of the amount that you receive in compensation. It is usually 33% but can vary dependent on the experience of your lawyer and ability. Since your lawyer is only paid if they collect funds for you, their interests are aligned with yours. They’ll always work hard to maximize the amount of money you get in your malpractice settlement.

While this arrangement is good for many victims, it is detrimental in the context of medical malpractice cases. A fee structure that pits the financial interests of lawyers against those of their clients is harmful to 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 a large number of clients.

Settlements outside of the Courtroom

Contrary to what you see on TV, almost 90% of malpractice cases that are able to settle out of court with the assistance of lawyers who determine a reasonable financial amount. This is due to the fact that insurance companies are more likely to settle out of court rather than engage in costly litigation.

During negotiations for a settlement those who have suffered injuries will seek compensation for both economic and non-economic losses. Economic damages are for future and past medical bills as well as any medication or rehabilitation therapy costs. They also include lost wages due to time away from work due to the medical negligence.

Non-economic damages are aimed at addressing mental distress, as well as loss of quality. Mental anguish includes severe emotional distress, which can lead to post-traumatic disorder, apathy 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 lawyer claims are creating an unjust trend of rising settlements. Medical negligence claims only account for 0.3 percent of all healthcare costs, as per research and data.

A settlement without a court hearing lets the victim keep their privacy and prevents public disclosure of what transpired. However the process of going to trial can force the victim to recall the events that they went through and could expose them to judgments that are hurtful from others. This is why the decision to settle a case outside of court an important decision that every victim should take into consideration.