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A New York State senator wants to pass a bill that would increase the percentage malpractice lawyers can receive for taking on medical malpractice lawsuits. Currently, lawyers can earn up to 30% of the first $250,000, 25% on the next $250,000 and 10% on settlements totaling more than $1.25 million. The state of New York is trying to place a cap of $250,000 on malpractice settlements, points out a New York Injury Lawyer. The senator, also a malpractice lawyer, said he opposes any type of cap.
Many states are trying to place limits on the amount of money those filing malpractice lawsuits can claim to reduce medical insurance costs and protect those in the medical community. High amounts sought in medical malpracticecases have driven some medical personnel to stop practicing or open a practice in a state with caps already in place. Capping the amount of those filing malpractice lawsuits may or may not stop the increase of medical insurance costs for medical personnel and patients.
The senator wants to increase the percentage lawyers can receive from a settlement to 33% by repealing an old law currently in use. While his efforts may or may not be successful, making changes to how much lawyers can charge for representing their clients and how much people can sue for medical malpractice will continue to be an ongoing debate.
Malpractice lawsuits cover a variety of items including medical error, database error, failure to alert patients as to the risks of certain procedures, botched procedures, lost wages, emotional stress and permanent injury which render patients unable to work and support themselves, explained a NY Personal Injury Lawyer. Placing a cap on malpractice lawsuits may prevent those who have been injured from receiving the monetary compensation they deserve. The state senate will continue to debate this issue and the issue of lawyer compensation until a final decision is reached. In the meantime, those who have lawsuits pending may be able to settle out-of-court for the full amount they are suing for or some other amount that seems reasonable for all parties involved.
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