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The average out of court settlement for a medical malpractice lawsuit is just over $425,000, while the average jury award is now over $1 Million.
A medical malpractice case can take as little as a few months or as long as several years to complete. It really depends on the complexity of the case. If both parties can come to a reasonable settlement, then the lawsuit will not take long to conclude.
It is impossible to predict exactly how long it will take to resolve your medical malpractice case. Some cases are decided within a year or two, while others take upwards of four years until they are concluded.
Most medical malpractices cases never make it to trial. According to Business Insurance report, of the hundreds of lawsuits filed every year, only about half of medical malpractice cases go to trial. Fewer than 5 percent end in a verdict. Over 95 percent of medical malpractice claims result in out-of-court settlements.
The amount of the average payout for a verdict or settlement in a medical malpractice claim nationally is approximately $242,000. (Miller & Lois' average is easily more than triple this national average in recent years.)
As we mentioned before, most injured victims receive their settlement funds within about six weeks from the end of negotiations. However, additional delays can happen. If your settlement gets delayed extensively, and you're wondering what's going on, you should contact your personal injury lawyer.
After a settlement is agreed upon, how long will it take to get my settlement injury check? Usually, it takes between four and six weeks to complete the settlement process (this varies on a case-by-case basis). First, the insurance company will require you to sign a release that settles your claim.
An attorney may normally hold a settlement check until it clears, which frequently means 7-10 business days. If the attorney is attempting to negotiate on outstanding medical bills or liens, it may take a little longer for the settlement check to be disbursed to the client.
After settling an injury case, your lawyer will simply wait for the insurance company's settlement check to come in the mail. It's different if you won at trial, which could mean an appeals process needs to play out before you will see a check for the court-ordered damages award.
In cases where attorneys receive the settlement funds from the insurance company quickly and don't have to pay out much to other agencies or individuals, it can take as little as 1-2 weeks for an injured person to receive their portion of the funds.
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