How To Deal With Medical Malpractice

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How To Deal With Medical Malpractice
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Medical malpractice is the third leading cause of death in the United States. This alarming fact was released by the American Medical Association (JAMA) and shows that only heart disease and cancer kill more Americans every year. This fact is ironic in the sense that most people visit a medical practitioner with the blind faith that they can cure their ailments.

However, the statistics show that American medical profession spends over $3 billion annually on medical malpractice law suits, with one pay out happening every 43 minutes. Even though these facts are disturbing, it is more disturbing to find out that less than 15% of medical practitioners ever taken to trial are found guilty of malpractice and issued to settle with a plaintiff.

Medical providers are quick to settle any suspected malpractice claims to avoid going to court. However, taking a weak settlement figure will not do you any justice and not teach the medical practitioner the full lesson they deserve.

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What You Need to Do if You Have Been a Victim of Medical Malpractice

The first thing any victim of medical malpractice should do is gather all of their related medical records to the case in question. You should also see a specialist in the area of your injuries to receive a diagnosis that your treatment was below the standards of care set by the medical professional.

The next step is hiring a malpractice attorney to handle the administration of your case. Medical malpractice attorneys will be able to arrange a consultation with you to review all of your records and the findings of your second opinion with the specialist.

The attorney will then determine if the evidence is sufficient to proceed with the case and if so, they will begin with filing the process for you. An attorney should handle all the affairs of your case, all you have to do is show up to the proceedings.

The Benefits of Using a Medical Malpractice Attorney to Handle Your Case.

Using a qualified and reputable malpractice attorney

Being that more than 85% of malpractice claims result in the physician winning, a case can cost the plaintiff thousands of dollars if they are unable to secure a favourable verdict. A malpractice attorney will only proceed with a case if they are confident that they can achieve a settlement for you.

However, many malpractice lawyers will offer their services to you on a retainer and take the balance owed for their services after the payment has cleared in your bank account. This initial waiver of fees ensures that your cash flow is not affected by substantial legal costs that you have to pay.

The Final Thought

Being a victim of medical malpractice is an unfortunate circumstance that deserves a monetary settlement. Make sure that you choose to work with a malpractice attorney that has a solid reputation in achieving a high success rate for their client.

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Ankur Shah is the founder of the Value Investing India Report, a leading independent, value oriented journal of the Indian financial markets. Ankur has more than eight years of equity research experience covering emerging markets, with a focus on India and South East Asia. He has worked as both a buy-side investment analyst for a global long/short equity hedge fund and a sell-side analyst for an emerging markets investment bank. Ankur is a graduate of Harvard Business School. You can learn more about his latest views on global markets at the Value Investing India Report. -- He can be emailed at [email protected]
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