Like other kinds of tort actions, most medical malpractice claims are settled. As long as the victim presents sufficient evidence of both liability and damages, the provider’s insurance carrier is usually willing to negotiate.
If you’re wondering what that process looks like, read on. Here are the answers to some of the most frequently asked questions on the subject:
The value of your claim will come down to the severity of the damages you incur. Non-economic damages like medical bills and lost wages can be calculated using receipts, statements, paystubs, and other corresponding documentation.
Quantifying economic damages, like pain and suffering, is much more challenging. There are, however, a couple of widely accepted formulas for doing so. After compiling enough evidence to prove that you did, in fact, incur such losses, your legal team may use one of these formulas to assign them a monetary value.
If you were hurt in a car accident, the at-fault motorist wouldn’t have any say in how their carrier approached the situation. When it comes to malpractice, however, physicians can sometimes influence the outcome of the proceedings.
Since medicine is their livelihood and their insurance premiums will increase with every claim that’s paid out, providers may refuse to settle if they don’t think they did anything wrong. Should this end up being the case, the claimant will have no choice but to file a formal lawsuit if they still want to seek compensation.
Medical malpractice payouts are typically issued in one of two ways. Structured payments are usually applied to cases involving birth injuries or minor patients. Under this system, the court sets up a fund to ensure the victim has continuous access to the money for their long-term care.
Lump sum payments are also a viable option and are often the preferred approach because they’re much simpler than structured payments. In most cases, the lump sum is issued to the lawyer. After taking out their fee and any additional costs, the firm distributes the remaining funds to the victim.
At Ball Eggleston, we’re determined to advocate for those who have been wronged by their medical providers. If you received substandard care and suffered complications as a result, we’ll help you take the steps needed to hold the liable party accountable. To set up a free initial consultation with a medical malpractice lawyer in Lafayette, complete our Contact Form or call (765) 742-9046.
The content of this blog is intended to be general and informational in nature. It is advertising material and is not intended to be, nor is it, legal advice to or for any particular person, case, or circumstance. Each situation is different, and you should consult an attorney if you have any questions about your situation.