Fixed contingency fees are the most common way of paying for the services of a medical malpractice lawyer, while sliding-scale contingency fees and hourly rates are the other ways to pay them.
If you plan to hire a New York attorney, such as someone from Marc J. Bern & Partners, choose one that would agree to a fixed contingency rate since medical malpractice lawsuits are complex and last for a long time. This means that you would be paying a lot more with a lawyer that charges by the hour.
A fixed contingency agreement between you and your lawyers should involve payment only upon receiving money, which usually happens through a court award or an out-of-court settlement.
The fee will account for a certain percentage of the overall compensation that may range between 25% and 40%. The average contingency fee is 31%.
If you think that’s high, consider the possibility of winning or receiving a settlement with the right legal counsel. Those who hire a medical malpractice lawyer are nearly twice as likely to receive monetary compensation, compared with those who have no legal representation.
Some states, such as New York, have also made regulatory amendments to their medical malpractice law, so hiring a lawyer means that you are more likely to get updates on these changes.
New York Bill
In early 2018, New York approved the Lavern’s Law that provides cancer patients with a 2.5-year window for filing a complaint once they discover a misdiagnosis or mistreatment.
The rule amended the previous ruling that only allowed medical malpractice cases for cancer to be acknowledged by the time the error has taken place. However, the window doesn’t mean that you should wait longer before you act on your case.
Fixed contingency fees may be the best way to pay a lawyer, as these are more affordable than paying sliding-scale contingency fees or by the hour.