How Are Medical Malpractice Payments Structured?
Deciding whether to settle your medical malpractice case or take it to court is a big decision.
A lot of thought will go into building a strong case, finding expert witnesses to substantiate claims of malpractice, and presenting your case in a way that will either convince the defense to settle or convince the jury that you are owed compensatory damages because of suffering caused by medical negligence.
Once you have successfully achieved resolution in a medical malpractice case, there are still some questions that need to be answered. For instance, you must decide on the structure of the payments you receive as the result of the settlement or jury verdict. Injured patients or family members who are to collect payment as the result of a jury verdict or settlement typically have two options for collecting.
There are cases where choosing to receive structured payments makes the most sense. For example, in certain malpractice cases where there has been a birth injury or the malpractice has resulted in injury to a young child, choosing structured payments often ensures that the child is cared for in the long term. The court will very often set up structured payments on behalf of the child so that long term care and medical expenses will be provided to the child.
There have, however, been cases where plaintiffs have chosen to receive structured payments, but have later regretted it. There are companies that will offer to buy the structured payments in return for a lump sum of money. However, plaintiffs very often regret selling their structured payments because companies offer to buy them for far less than they would receive if they had stuck with the structured, “over time” payments.
Lump Sum Payments
Choosing to receive lump sum payments is usually the easiest way to collect the damages that are owed. Lump sum payments are generally preferred because then the beneficiaries are able to set up their own system for paying for the cost of future care and whatever other needs arise. Over the course of litigation or the time it takes to negotiate a settlement, medical expenses, lost wages, and legal expenses can add up, putting a major financial strain on injured patients and their families. A lump sum payment allows patients and families to cover these expenses as they arise and set up funds for future care as they see necessary.
Medical malpractice attorneys will usually work for clients on a contingency fee basis. This means that the attorneys are not paid or reimbursed for legal expenses until the case is successfully resolved. Terms and the expectations of payment will be laid out initially when you choose the attorney who will manage your medical malpractice case.
If you have been the victim of medical malpractice, contact the Zevan and Davidson Law Firm. We can evaluate your cases for free and help you determine how to proceed with your case. Our experieced team of medical malpractice attorneys have a strong track record of getting results for victims of medical malpractice.
To schedule a free consultation, call Zevan and Davidson at (314) 588-7200 or contact us online.
Missouri Medical Malpractice Lawyer
If you have suffered as a result of medical malpractice, contact our legal team right away. Waiting to seek legal representation can prevent you from filing a claim and receiving the compensation you deserve.
Contact Zevan Davidson Roman today.
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