Most healthcare providers, including nurses and doctors, work hard to care for their patients. However, sometimes preventable medical malpractice can occur. Every year, thousands of injuries are caused by negligence and medical malpractice alone.
The United States Department of Labor has specific guidelines for technicians, anesthesiologists, nurses, physicians, and other healthcare personnel to follow. Whether you are being treated during a specialized procedure or undergoing a routine wellness exam, your visit should go smoothly with a knowledgeable and experienced medical professional. The medical provider has to ensure that they are meeting these obligations.
Medical malpractice cases can take several years to resolve, which can add additional stress to a patient’s recovery. The effects resulting from medical malpractice could result in severe side effects, additional surgeries, or death. Our team at The Legal Funding Group can offer you legal funding for your medical malpractice case to get you through the tough times until your case is settled.
How Often Does Medical Malpractice Occur?
Every year, a shocking 15 million people in the United States suffer injuries due to medical malpractice. The FDA requires adverse side effects from certain drugs to be reported to their agency immediately. On average, 1.5 million Adverse Drug Events (ADE) cases resulting from medication errors are reported each year. According to the Joint Commission Center for Transforming Healthcare, between 40 and 60 patients in the U.S. each week experience wrong-site surgeries. Operations are sometimes erroneously performed on an incorrect body part or the wrong person. Some of the most common and dangerous errors occur when doctors misdiagnose their patients. These errors are among the most expensive medical mistakes made in America. According to Johns Hopkins Hospital researchers, between 1986 and 2010, over $38 billion was paid to cover medical misdiagnosis cases.
No other industry in the United States would ever tolerate the safety records mentioned above. Over 440,000 people die from hospital injuries, infections, errors, and accidents every year. Out of every 25 people hospitalized annually, one of them will likely get an infection they never had when admitted into the hospital.
The National Practitioner Data Bank, or NPDB for short, is a database which includes medical malpractice reports and payments that were filed across the United States. According to the New England Journal of Medicine, 99% of all doctors will be involved in a medical malpractice lawsuit by age 65.
Common Types of Medical Negligence
Medical negligence, by definition, refers to a healthcare professional failing to provide a patient with an appropriate and adequate level of treatment, resulting in a severe injury or fatality. A variety of medical practitioners can be considered negligent, including anesthesiologists, surgeons, dentists, nurses, pharmacists, and doctors, to name a few.
There are multiple and varied areas in the healthcare industry where negligence can be found. The most common forms of medical negligence include the following:
- Nursing home injuries/elder abuse
- Wrongful death
- Anesthesia errors
- Hospital, doctor, or nurse negligence
- Pharmaceutical or medication errors
- Congenital disabilities or injuries
Length of Time to Settle a Medical Malpractice Case
As the case progresses, several negotiations take place during various points in many lawsuits. Sometimes, a settlement can be reached early before a claim has been filed, or before the trial even begins.
While there is no accurate time frame for lawsuits, certain factors can lead to more complicated cases, including:
- Strategic delays
- Multiple witnesses
- Multiple liable parties
- Difficult legal issues
- Complicated medical issues
Medical malpractice cases can last several years, depending on the amount of money and time needed to line up qualified witnesses, coupled with very complex hearings. The insurance companies involved in these proceedings prefer that the cases be delayed, as it works to their advantage. Insurance companies will typically request additional documents or medical exams from plaintiffs. A delayed lawsuit puts plaintiffs in a financial bind and ultimately makes them more willing to settle quickly so that their financial troubles can finally end. Legal funding pulls control away from the insurance companies and puts it back into the plaintiff and attorney’s hands.
Because hospitals and doctors typically have deep pockets, these entities can force lowball settlements on victims of medical malpractice cases during a time when they simply can’t afford to wait. The Legal Funding Group can provide you with medical malpractice legal funding to keep the playing field level. The money can be used to pay expenses and bills while waiting for your case to be resolved. With our help, you won’t have to settle for less than you deserve.
Medical Malpractice Settlement Amounts
Various factors are used to determine the amount of money you may receive in a settlement. Damages resulting from an injury are taken into account as part of your compensation. Juries are instructed to award damages that would offer a plaintiff a fair amount of compensation to settle their case. If a case makes it to trial, the jury will ultimately decide what your medical malpractice case is worth. Regardless of what the jury decides, the amount can still be reduced by a judge afterward.
The following factors are considered to determine the value of your case:
- Wrongful Death: Loss of life resulting from malpractice
- Consortium: Loss of a spousal relationship resulting from malpractice
- Pain and Suffering: Physical, emotional, and mental illness resulting from a malpractice injury
- Financial Support: The amount of income a family will lose after a victim dies due to medical malpractice
- Lost Wages: Loss of income resulting from malpractice injuries that have kept you off the job
- Health: The plaintiff’s potential life expectancy and age
- Medical Bills: Additional expenses accrued as a result of malpractice
Our medical malpractice legal funding will give plaintiffs the financial stability and support they need to stay afloat during the lengthy legal process.
Medical Malpractice Legal Funding Options
We can offer you a cash advance for your lawsuit during any phase of the litigation process. If you need money to help you fund your case, money before a collection but after a settlement, or money before your settlement is completed, we can help you. We have you covered whenever you need money because we believe your legal case will be settled in your favor. There are three main types of legal funding:
Medical Malpractice Pre-Settlement Funding
It could take months, or even years, for a lawsuit to be settled. The Legal Funding Group provides pre-settlement funding for everyday living expenses, medical bills, legal fees, and other expenses. The money will give the plaintiffs financial security while they wait for their case to be resolved.
Medical Malpractice Post-Settlement Funding
Even after a case has been resolved, plaintiffs can still receive money with a post-settlement loan. Lawsuits that have been settled and resolved can take some time to process before receiving any payment in your bank account. Defendants can also appeal the ruling, which could further delay the process. Post-settlement loans are offered through The Legal Funding Group for individuals struggling with their bills while waiting for their settlement to be processed.
Medical Malpractice Cash Advances for Settlements
Plaintiffs who need a cash advance on their settlement can get a loan to alleviate any financial stress they may be experiencing. The cash advance will match the amount of money they are expected to receive from their settlement.
Credit checks are not required to receive legal funding, and we also do not check your financial history before approving a medical malpractice lawsuit loan. The facts of your case will determine your approval for a loan.
How to Qualify for a Medical Malpractice Lawsuit Loan
To qualify for medical malpractice legal funding, the following requirements must be met:
- You hired a lawyer on a contingency basis and controlled the proceeds of the settlement to pursue a medical malpractice suit against a self-insured or insured entity.
- Your case was discussed with your attorney, a relevant medical professional has written testimony, or an outstanding offer needs to be settled.
- You are over 18 years of age.
If your case qualifies for a lawsuit loan, your attorney will be contacted and you will receive the necessary documents afterward. Our specialists at The Legal Funding Group will talk to your attorney if necessary, look over your medical malpractice case information, and determine if your case may be eligible for legal funding.
Get Legal Funding For Your Medical Malpractice Lawsuit
If you are a victim of medical malpractice and have filed a lawsuit, you may be concerned about lost wages and financially supporting your family while awaiting settlement. The medical bills from your initial treatment are already costly, and the injuries caused by medical malpractice can be severe enough to restrict you from working. Thinking about your finances in this situation is undoubtedly intimidating.
Medical malpractice and medical negligence victims can contact the Legal Funding Group for medical malpractice lawsuit loans. Don’t let the legal fees and medical bills stop you from enjoying your life. Our approval process is quick and easy, so you get medical malpractice legal funding when you need it.