When you file a medical malpractice claim, reaching a fair settlement with your healthcare provider’s malpractice insurance provider is the goal. When you settle your claim, it is also a quicker, less stressful process than the alternative, which is filing a lawsuit to have the court rule on your case.
Sometimes, it is impossible to reach a fair settlement and litigation is the only solution. But lawyers and insurance providers generally do all they can to avoid going to court because not only does this require them to give up a level of control over the settlement, it is expensive and time-consuming. However, some malpractice insurance policies favor litigation and in many cases, the court does become involved in the case somewhat to ensure that fraudulent or insufficient settlements are not approved. During your initial conversations with your lawyer, go over your healthcare provider’s insurance policy to determine the right strategy for your claim.
Know When to Settle
You will likely receive an initial settlement offer from the malpractice insurance provider. Do not accept this offer unless your lawyer advises you to do so. Typically, this amount is much lower than the amount of money you actually need. It is also lower than the amount you can potentially receive.
Your lawyer will negotiate with the insurance provider on your behalf to raise your settlement amount. This can require your lawyer to provide additional pieces of evidence to support your claim and the amount of financial compensation he or she is seeking for you. When your lawyer and the insurance provider agree on a fair settlement, it is time to settle the claim.
However, the settling doctor must also agree to the settlement amount in most cases. A malpractice claim can hurt a doctor’s reputation and cause him or her to face higher insurance premiums or be dropped altogether by his or her malpractice insurance provider. Your lawyer might need to negotiate with your doctor as well to reach a fair settlement amount. Unlike other types of personal injury claim, the details of a settled malpractice claim are not completely private. If the doctor will not agree to a settlement, you might need to go to court.
Work with an Experienced Chicago Medical Malpractice Lawyer
Making the decision to settle your medical malpractice claim instead of filing a lawsuit is one that should be made with a lawyer’s guidance. Filing a lawsuit can be a strategy to secure the monetary compensation you need for your damages, but it is a risky choice that can be stressful, time-consuming, and might not reach the result you want. To learn more about the medical malpractice claim process and issues you need to consider regarding settlements and when to keep fighting for your claim, speak with one of the experienced medical malpractice lawyers (https://www.baizlaw.com/practice-areas/medical-malpractice/) on our team at Baizer Kolar, P.C. Contact our office today to schedule your initial consultation with us.