Posted in: Jul 06,2022|
Medical malpractice cases are some of the most complex personal injury cases requiring extensive experience and expertise to ensure the injured is afforded the best life possible moving forward. Insurance companies work for the insured, so it is not surprising that they will try to pay as little as possible to settle claims. Unfortunately, settling with the insurance company without legal counsel often results in too little compensation. Legal teams provide comprehensive support and valuable insight in negotiations. This guide to medical malpractice settlement negotiations will guide you through some important details when considering settlement.
What are medical malpractice settlement negotiations?
Medical malpractice settlement negotiations comprise offers and counteroffers between you and the insured’s insurance company to resolve your claim. Once you accept an offer, you are no longer entitled to any further compensation regardless of future complications that may result from your injury. Avoid agreeing to anything with an insurance company until you speak to an attorney about your case.
How are malpractice settlements calculated?
In short, all of your losses that stem from the incident, including economic and non-economic damages are combined. Some costs may be more complex to calculate, such as pain and suffering or emotional trauma. Your personal injury attorney will help you determine your potential losses, including medical costs, time off of work, pain and suffering, and other losses incurred from the incident.
What is the malpractice lawsuit settlement average?
Some factors that go into determining the value of a claim include:
- Past and future medical bills caused by the malpractice
- Past and future lost wages
- Permanent impairment
- Pain and suffering
- Emotional injury
- If death, loss of love and affection and companionship of a deceased loved one.
- If there is a minor child, loss of parental guidance.
Montross Miller has posted some case results online to help you compare cases; however, each case is different. Speak with an attorney regarding your case to get the best estimate of your case settlement.
Which states have caps on medical malpractice damages?
The mandated maximum for settlements varies from state to state, with some states having no maximum at all. In total, 29 states have caps on medical malpractice damages. Indiana has an absolute cap on total malpractice awards.
For cases dealing with medical professionals under the State of Indiana’s Medical Malpractice Act, the money paid in damages is capped at different amounts depending on when the malpractice occurred:
- $500,000 for an act of malpractice that occurred before January 1, 1990
- $750,000 for an act of malpractice that occurred after December 31, 1989 and before July 1, 1999
- $1,250,000 for an act of malpractice that occurred after June 30, 1999 and before July 1, 2017
- $1,650,000 for an act of malpractice that occurred after June 30, 2017 and before July 1, 2019
- $1,800,000 for an act of malpractice that occurs after June 30, 2019
How long does a Medical malpractice settlement take?
Each case is different, and it is critical to move quickly since you typically have two years following the incident to file a claim. The process from there could take months to years, depending on a number of factors. However, settlements are typically more expedient with professional legal support.
What to do if you think you have suffered from medical malpractice?
There is no way to fix what has already happened, but an experienced attorney can defend your rights and minimize the possibility of future cases for you and others. At Montross Miller, we specialize in medical malpractice, and with a board-certified physician on staff, we offer a whole other level of experience and expertise. Contact us today to discuss your case.