The smoke has cleared. And whether by settlement or jury verdict, a medical malpractice case comes to an end. The result: The plaintiff has recovered compensation for the harm caused by a healthcare provider’s professional negligence. Not all medical malpractice cases end favorably for plaintiffs, but many do. Typically, there are two options for payment when receiving compensation by settlement or jury award – structured payments or a lump-sum payment.
Structured settlements are often preferred in cases of birth injury, or malpractice to young children. These types of payments ensure that the child has the monetary resources to pay for long-term or permanent medical care.
Some plaintiffs attempt to sell their structured payments because they regret not choosing to receive a lump-sum payment. Unfortunately, these “resales” are often for much less than the amount of a lump-sum payment offered or available at the original time of settlement.
Obviously, a lump-sum payment is generally the best and least complicated option to structure the payment of an award or settlement. This method of payment allows the most options to pay expenses and structure the costs of future medical care.
Almost all medical malpractice cases use a contingency fee agreement for the payment of attorneys’ fees. Attorneys are not paid for their services or reimbursed for legal expenses until the conclusion of the case. If the plaintiff succeeds, the attorney will be paid pursuant to the attorney and client’s engagement agreement, which is usually a fee based on a percentage of the award or settlement.
If you require legal counsel and assistance in litigating a claim for damages resulting from any incident of