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Why Do You Need A Medical Malpractice Lawsuit Loan?

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The American Board of Professional Liability Attorneys defines medical malpractice as an instance when a healthcare professional neglects to take proper action, opts against appropriate treatment, or provides subpar care that leads to physical, mental, or emotional harm or death of a patient. These errors could involve delayed or wrongful diagnosis, improper medication dosage prescriptions, unnecessary surgeries or operations, surgical mishaps, lack of aftercare treatment, or others.

How Often Does Medical Malpractice Occur In The US?

Combined data from Johns Hopkins Medicine and Harvard Health Publishing found that 250,000 deaths from medical malpractice occur annually, landing it in the country’s third spot of leading causes of death. The statistic goes up to 400,000 every year if you include cases that lead to preventable severe or permanent harm. The American Medical Association even reports that 50% of United States physicians and medical practitioners over 55 have been sued at least once for medical negligence.

However, a study conducted by the Medical Malpractice Center shows that only 15,000 to 19,000 lawsuits are filed each year, suggesting that only up to 4.75% of medical negligence cases are brought to court. The majority of these receive no settlement. The Clinical Orthopaedics and Related Research report that defendants win 50% of claims with solid evidence of negligence, 70% of borderline suits, and 80-90% of trials with weak supporting evidence.

What Are Medical Malpractice Lawsuit Loans?

Patients who fall victim to medical negligence are entitled to lawsuits against their practitioners. It is more challenging to build strong evidence for medical malpractice than car accidents or other personal injuries such as slips or falls, so these claims take an average of five years to settle – with other cases dragging on for almost a decade. That is why many plaintiffs find themselves strapped for cash and desperate to receive their settlements, even at a low price.

A medical malpractice lawsuit loan will allow you and your lawyer enough leeway to build a more solid case by providing a cash advance on your future settlement. You can use the money you will receive from legal funding to cover ongoing medical bills, rent or mortgage and utility bills, lost wages due to injuries, or other general living expenses.

What Are The Common Types of Medical Malpractice?

Suppose you wish to file a medical malpractice lawsuit. It is critical to know the different instances that warrant a claim. Listed below are the types of medical malpractice.

Diagnosis negligence. 21% of patients in the United States are misdiagnosed on their first doctor visit. Johns Hopkins Medicine also reports wrong or delayed diagnosis leads to an average of over 100,000 Americans dying or becoming irreversibly disabled each year. It is the most common type of medical malpractice lawsuit claim.

Birth-related malpractice. Negligence related to childbirth may include damage to either mother or child. In some cases, a mother’s internal organs may be injured by surgical tools during a cesarean section operation. There are also reports of failure to control the mother’s bleeding post-delivery, infection, complications from anesthesia, or failure to check the baby’s oxygen levels during labor.

Anesthesia complications. General anesthesia paralyzes a patient’s muscles, requiring intubation to ensure proper airflow. An endotracheal tube insertion or extubation errors can lead to nervous or cardiovascular system complications. Negligence to check a patient’s medical history before administering anesthesia is also grounds for a lawsuit if it leads to death or preventable harm or if someone is given the wrong dose or type of medication.

Infection. Infections from medical malpractice can happen through contaminated instruments, surfaces, food, liquids, and blood. Often, these can lead to complications that lengthen a patient’s hospital stay, aggravate their condition, and increase medication costs. The hospital, medical facility, or physician-in-charge can be held accountable in most of these instances.

Medical errors. The United States Centers for Disease Control and Prevention said that 20-50% of antibiotic medications prescribed in acute-care medical facilities are inappropriate or unnecessary. Johns Hopkins Medicine surveyed 2,000 physicians and found that 80% of medication overuse is typical and caused by fear of malpractice (inadequate or improper care). But several cases of an inappropriate prescription can lead to severe illnesses in patients, especially if the practitioner did not review the patient’s history prior.

Surgical errors. Surgical doctors are the most likely to get sued for medical negligence, with over 85% encountering at least one malpractice case in the lifetime of their profession. Popular data shows that surgical instruments get left inside the patient’s body in around 39 surgeries weekly. A staggering 16.7% out of 2,000 physicians also admitted performing unnecessary surgeries for profit. Of surgical errors committed in the United States, 40% result in irreversible injuries or death.

What Are Some Consequences Of Medical Malpractice?

Medical malpractice is a serious issue that may result in death or severe personal injuries that cause physical, mental, or emotional suffering and distress. In many cases, the victim finds themselves unable to work or find an income source. It can also lead to additional medical or hospital bills, leaving the patient in a more egregious financial situation.

While filing a lawsuit may seem more taxing and financially draining, the settlement in medical malpractice cases is typically higher than in other personal injury claims. However, litigation takes longer because the plaintiff must present experts and solid proof. Here is where medical malpractice lawsuit loans come in handy.

Who Can You Hold Responsible For Medical Malpractice?

Medical malpractice lawsuit loans are not filed exclusively against doctors or physicians. That only happens when you deal with a healthcare professional working independently and not contracted with any medical facility or company.

On the other hand, most contracted physicians have little to no liability insurance coverage. Suppose you suffer from malpractice from a medical practitioner working inside a hospital. In that case, you get a better chance at receiving a higher settlement if you take the route of vicarious liability, which means that you will sue the facility in place of a medical professional. Pharmaceutical companies may also be found guilty of medical malpractice if a patient experiences preventable harm or death from the companies’ negligence to warn about drug hazards and adverse effects.

How Do You Qualify For Medical Malpractice Lawsuit Loans?

There are simple requisites to apply for a medical malpractice lawsuit loan. First, you need to be at least 18 years old with an attorney to represent you for the case, and you must agree on filing a settlement cash advance application. You also need to prepare documentation with an affidavit of merit or expert report proving that medical malpractice occurred and resulted in personal injuries or death. The clearer and more precise documentation your documentation is, the easier it will be for a funding company to review and approve your application.

Get Your Medical Malpractice Lawsuit Loan Within 24 Hours!

Direct Legal Funding can help you ease your financial burdens and win a substantial settlement from your medical malpractice claim! You only need to fill out an application and wait for us to review your case. We will get in touch with your lawyer to discuss the terms and details, and you may receive approval and your cash in less than a day.

Our lawsuit loans are non-recourse, which means that you do not have to pay anything if you are not granted a settlement, and your finances and assets will not be affected by the loan. The payment will only come from a portion of your settlement. We offer the lowest rates in the country with no credit check! 

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