How Florida Malpractice Settlements Are Paid

Medical malpractice lawsuits are an everyday occasion. Hospitals, nursing homes, doctors and insurance companies spend millions each year in medical malpractice payments. With information on medical expense, wage loss, pain and suffering and the treatment that was misdiagnosed, a final disposition can be made quickly.

Time Frame

Florida's statutes on medical malpractice start with the misdiagnosed patient submitting a claim. Once an amount for damages has been declared, depending on legal costs, medical expenses and loss of wages, the institution or physician must provide access to the patient's information. Because fines can reach $250 per day on malpractice suits, they are generally filed and judged quickly.

Benefits

Florida medical licensing provides that liability insurance for malpractice purposes be no less than $100,000 for defense of malpractice claims. This guarantees payment upon a judgment to award a patient. Upon final judgment, the physician must provide payment or set up payment arrangements within 60 days or risk having their license revoked.

Settlement Payments

Settlements are typically arranged in compensation payments. Those payments can come in either lump sum or structured settlements, depending on the amount and how the patient chooses to receive them. Some choose structured settlements as tax-free income, others would prefer the lump sum and money in advance if their life expectancy is shorter.

References

• State of Florida. The 2010 Florida Statutes. Title XXXII. Chapter 459.0085. 2010.
• Structured Settlements vs. Lump Sum Payments
• Florida Malpractice

Resources

• Medical Malpractice