How Much Is the Average Medical Malpractice Settlement?
It is highly difficult to quote an average settlement amount for a medical malpractice claim, since there are dozens of factors that should be considered when determining the settlement amount. The type of injury sustained, the severity of the injury, the length of time until treatment, and many other factors can change the value of a claim. Find out more about the way medical malpractice claim values are calculated.
What Is the Average Medical Malpractice Settlement Value?
Nationally, medical malpractice out of court settlement payouts average $242,000. The average jury award is approximately $1 million, while the average court settlement is $425,000. For medical malpractice insurance companies, it is far less expensive to settle out of court. It may be in the plaintiff’s best interest to take their claim to court, or they may prefer to settle out of court. If you are filing a medical malpractice claim, discuss your desires for your case with your attorney. They can help you develop a strategy for your case that will meet your needs.
How are Medical Malpractice Claims Calculated?
The value of your specific medical malpractice claim is important. An experienced medical malpractice lawyer can help you to estimate the value of your claim. This figure is important to help you decide if a settlement offer is fair. It also will be the figure a jury is likely to place on your verdict.
The value of you claim is the total cost of your economic damages, the estimated future cost of economic damages, and the current and future cost of noneconomic damages. Economic damages are objective expenses, such as medical bills, ambulance bills, medication costs, transportation expenses, and other tangible costs. Non-economic damages include emotional trauma, pain and suffering, and a reduced quality of life. These damages can be long lasting, but are difficult to prove. Your attorney should be able to help you document your noneconomic damages so you can claim the amount you deserve.
Contact a Medical Malpractice Lawyer
Your attorney is a powerful source of advice and can help you evaluate your claim, document your expenses, and can negotiate your settlement or represent you in court. An experienced lawyer can give you information that can help you come up with a reasonable estimate for your settlement, and can guide you through the negotiation process to ensure that your needs are met. Don’t face your medical malpractice claim alone.
Backed by more than 175 years of collective experience, Denver Trial Lawyers are dedicated to protecting the rights of injured patients. We understand the devastation that can occur when you are injured due to the negligence of a trusted physician. Our Denver medical malpractice attorneys have recovered more than $300 million on the behalf of our injured clients. Learn how we can help you.
Speak to a member of our staff by contacting our offices at (303) 586-3638.