A medical malpractice suit is an extremely challenging claim to pursue on many levels.
If a medical professional has harmed you, it means seeking care from a new doctor, which can be stressful. There are also the additional medical expenses that you weren’t planning for. There is also the emotional component.
You put your trust in that professional, and now, because of their negligence, you’ve been hurt. That is a kind of betrayal that is hard to process. All of those challenges mean you’ll want to find a fast resolution to your claim. That resolution might mean a settlement.
However, before you accept a settlement, you’ll want to consult with the Prince Law Firm.
We have experience as a medical malpractice attorney who helps our clients navigate the complexities of these cases. That includes giving serious consideration to any settlement offer.
What Happens After You Accept a Medical Malpractice Settlement?
The most important element to consider when accepting a medical malpractice settlement is that it is final. Once you agree to the amount, you will be obligated to sign a waiver that will prevent you from taking any further action.
In other words, if your injury ends up requiring additional surgery or physical therapy, you will have to pay for that; you won’t be able to file another lawsuit.
You also won’t receive the payment until the waiver is signed. Once it is signed, a check will be issued and sent to your attorney. Your attorney will disburse fees to the appropriate entities to which you might owe money. For instance, if there are outstanding bills to a hospital or doctor, they will be paid first.
After the expenses are covered, your attorney will deduct their fees. In Illinois, medical malpractice lawyers are allowed to charge 33 1/3% of the first $150,000 in a medical malpractice settlement, and 25% of the next $850,000.
Finally, they can deduct 20% of any damages awarded to the patient over $1 million. None of these charges will be a surprise.
You’ll know exactly what your attorney will be deducting as part of your retainer agreement.
The remainder of the settlement will be transferred to you. After signing the waiver, you might receive your funds within two weeks.
What Damages Are You Entitled To?
When you file a medical malpractice lawsuit, you are entitled to seek compensatory damages.
Damages are categorized into two types: economic damages and non-economic damages.
This is how they break down:
Economic Damages
These have some type of monetary sum, and they may include:
- Ambulance expenses
- Transportation expenses
- Domestic service expenses
- Medical equipment costs
- Rehabilitation costs
- Physical therapy costs
Noneconomic Damages
Non-economic damages are not backed up by a bill or invoice. Instead, they cover things like the pain and suffering you endured as a result of your injury. If you were scarred or disfigured, you can also seek non-economic damages. You can factor in your loss of enjoyment of life and any added mental anguish, as well.
Often, these damages are calculated through a multiplier method. That method assigns a number between 1 and 5 that is then multiplied by your economic damages.
Before 2010, Illinois had caps imposed on settlements. You were only entitled to claim up to $500,00 in non-economic damages against a medical professional. If your claim was against a hospital, the cap was set at $1 million. In 2010, the state supreme court ruled that these caps were unconstitutional. Today, there are no caps in place.
What Role Does a Certificate of Merit Play in a Medical Malpractice Claim?
Before you can proceed with your medical malpractice claim, you need to obtain a certificate of merit. This is an affidavit from an independent medical practitioner who will verify the veracity of your claim.
That certificate is not absolute, and those findings can still be disputed. However, the certificate of merit does provide a decent foundation to build on. It is also the type of findings that could motivate the insurance carrier and at-fault parties to settle.
When they know the evidence is strong, they might not want to risk having the matter presented in court.
Understanding Your Options
When presented with a settlement offer in your medical malpractice case, you’ll want to give it careful consideration. Consulting with the Prince Law Firm can help bring the offer into focus.
We can explain your options and discuss whether the offer is a fair one. A first offer should be the start of negotiations, not the end. Whether you need to start your claim or have been presented with an offer and aren’t sure if it is fair, let’s talk.
You can call for a free consultation today.
