Medical negligence is an area of law involving treatment wrongfully performed by a medical professional that does not meet the necessary standard of care. When a medical professional does not meet his or her standard of care, he or she is said to be negligent – which means they hold liability for damages associated with the treatment that was administered. To prove negligence and acquire damages, an injured party (or person acting on their behalf) must file a medical negligence lawsuit. The lawsuit will determine whether the medical professional is liable as well as the compensation or other consequences for the negligence.
In many cases, medical negligence lawsuits can be very costly. For a lot of victims of medical negligence, the immediate consequences of the negligence itself can already be financially damaging. Some victims of negligence may find themselves needing to find other treatments, which may cost more money, or needing to pay other medical costs that they did not expect. In some cases, medical negligence can even cause death – leaving the loved ones of the victim at an emotional loss and financial loss. On top of that, costs of lawyers, documents, and medical investigations can be extremely high, particularly in cases of medical negligence. Medical negligence lawsuits often require in-depth investigations as well as many expert witnesses, both of which cost high amounts. To say the least, medical negligence lawsuits can be difficult to handle for individuals without proper funding.
Funding medical negligence lawsuits is usually possible, despite the high costs. For one, many lawyers operate on a system known as a contingency, meaning they offer their services without fee and then keep a portion of the compensation as payment. This decreases the upfront costs significantly, even though the client will still be expected to pay for some “discovery” and other costs. An important step in funding medical negligence lawsuits is therefore to find a lawyer willing to operate on a contingency.
Another method for funding medical negligence lawsuits is to obtain lawsuit financing. Lawsuit financing works very similar to other forms of financing – a loan or “advance” is provided with the expectation that it will be paid back later. Generally speaking, lawsuit funding or financing is provided by companies or other investors. As with other forms of loans, lawsuit financing must be repaid, and ideally will be repaid after a compensatory settlement or judgment has been received. Until that time, the loan will amass interest that will also need to be repaid.
Even for small cases, funding medical negligence lawsuits is possible. As long as you have a valid claim that can be substantiated, consider your options and make the effort to get funding.