If you were injured due to an act of medical negligence, you could have grounds for a medical malpractice lawsuit in New York. Medical malpractice occurs when a physician harms a patient by failing to uphold the standard of care required by their profession. However, bringing a medical malpractice lawsuit on your own can be costly. It can place a significant financial strain on you and your family, particularly if you are already facing steep medical expenses, lost wages, and other losses.
If you are concerned about the potential cost of a lawsuit, you might be debating whether to hire an attorney to represent you. While it is perfectly understandable to be apprehensive about the legal fees associated with hiring a medical malpractice lawyer, most attorneys will cover the cost of your lawsuit and take a percentage of any compensation you are awarded as payment for their services.
When all is said and done, you will likely save money in the long run by hiring an experienced lawyer to represent you. Below, we’ll discuss some fees associated with bringing a medical malpractice case and why it’s important to work with a Long Island medical malpractice attorney.
Personal Injury Attorney Contingency Fees
Most personal injury lawyers, including the New York medical malpractice attorneys at Finz & Finz, P.C., work on a contingency fee basis. Under a contingency fee agreement, which the attorney and client both sign when the attorney takes the case, the attorney is paid by collecting a percentage of the final settlement or verdict if they secure one.
If you decide to hire a medical malpractice lawyer to handle your case, your lawyer will only collect their legal fee if they obtain compensation for you. In other words, if you don’t get paid, your attorney will not be paid either.
The exact amount you will pay your attorney depends on the size of the settlement or judgment you receive. New York state law places a sliding scale cap on the percentage an attorney can take out of your final award. That percentage decreases as the size of the settlement or judgment grows.
The maximum amount that a medical malpractice lawyer can collect from a medical malpractice settlement they help secure is 30 percent of the first $250,000. From there, an attorney can take:
- 25 percent of the next $250,000
- 20 percent of the next $500,000
- 15 percent of the next $250,000
- 10 percent of any amount over $1,250,000
The main benefit of a contingency fee is that, unlike a flat fee, a contingency fee does not further add to the financial burden many injured victims are already living with due to hospital bills, lost income, and other expenses.
You can read more about how New York state laws regulate contingency fees in medical malpractice cases by reading New York Judiciary Law section 474-A. If you have questions about contingency fees, a New York medical malpractice attorney at Finz & Finz, P.C. can help you understand how this fee structure might apply to your case.
While some states have placed caps on the amount of damages you can recover in medical malpractice cases, there is no limit to the amount you can receive through a successful medical malpractice lawsuit in New York.
Medical Malpractice Case Costs
Legal fees are not the only costs involved with a medical malpractice case. One of the most significant expenses involved in malpractice lawsuits is the cost of hiring an expert witness to testify on your behalf.
These medical experts can charge hundreds or even thousands of dollars for every hour they spend evaluating your case, giving testimony at trial, and traveling. However, hiring a medical expert to give their opinion in your case can mean the difference between failure and success, so this expense could be worthwhile in the long run.
Other common expenses in medical malpractice lawsuits include court fees, costs associated with acquiring your medical records, and more.
Fortunately, many medical malpractice lawyers will cover these costs while your case is ongoing. If they successfully secure a settlement or judgment for you, they will then deduct those costs from your total financial reward before taking out their legal fees.
If you have concerns about additional costs associated with bringing a medical malpractice lawsuit, the legal team at Finz & Finz, P.C. is happy to assess your case during a free consultation and help you determine what costs might be involved in a potential lawsuit.
Do I Need to Hire an Attorney?
While it is true that if you represent yourself, you won’t have to share the final settlement or judgment with anyone, pursuing a medical malpractice lawsuit without legal representation could actually cost you more money long-term. Aside from the risks associated with attempting to tackle a complicated lawsuit on your own, you would also have to foot the bill for all costs associated with your case upfront, including expert witness fees, court costs, and other fees.
The defendant’s insurance company will likely put up a fight as well, and without a lawyer to defend your rights and advocate for your interests, you could end up with a far smaller settlement than you need and deserve.
Contact a Long Island Medical Malpractice Lawyer
Due to the high stakes involved in a medical malpractice suit, we at Finz & Finz, P.C. highly recommend hiring an experienced Long Island medical malpractice lawyer to handle your case. Our trial attorneys have the skills, knowledge, and resources to thoroughly investigate the alleged malpractice, gather and present compelling evidence on your behalf, negotiate a settlement, or file a lawsuit and seek damages in court if necessary. We also have a clear track record of results from former medical malpractice cases we’ve filed. We will be ready to discuss your case in detail when you call us at 855-TOP-FIRM or reach out to us online.