TALLAHASSEE, Fla., March 7, 2019 /PRNewswire/ — Legal-Bay, the premier Pre Settlement Funding Company, announced today that they are preparing for huge growth in their medical malpractice department.
An economic reward in a medical malpractice lawsuit provides financial compensation to injured patients. Non-economic awards can offer compensation above and beyond any medical costs, including any pain and suffering the patient may be dealing with. Usually, payout caps are put in place to minimize such cash settlements. North Dakota, for example, places a strict limit on any non-economic payouts, meaning that regardless of an individual’s circumstances, the most they could hope to receive in damages would be $500,000. California’s non-economic damages are capped at $250,000. There are many other states with similar medical malpractice caps.
However, payout caps have recently come under fire as being outdated and unconstitutional.
In 2015, the Florida Supreme Court ruled that damage caps are in violation of the law under their state Constitution. While the decision only applied to Florida’s specific laws, other states are utilizing the ruling to reconsider their own caps. Legal-Bay expects that with higher damages, there will be a spike in lawsuit cash advance funding for medical malpractice cases, whether against a hospital, surgery center, doctor or surgeon.
Chris Janish, CEO, commented, “The Florida ruling was long overdue since most of these caps were enacted many years ago and don’t even reflect fair value in today’s economy. However, the issues go deeper in regard to constitutionality and protecting victims. We are hopeful that other states will take notice and enable victims to sue for fair value of their injuries.”
Legal-Bay’s non-recourse pre-settlement funding programs are not a lawsuit funding loan, lawsuit loans, presettlement loan, presettlement loans, pre-settlement loan, or pre-settlement loans as many clients may think. Pre-settlement funding is merely an immediate cash allowance given in advance of a plaintiff’s impending monetary award. The cash advance is risk-free, as the money does not need to be repaid should the recipient lose their case.
To apply right now, please go to the company’s website at: http://lawsuitssettlementfunding.com or call the company toll-free at: 877.571.0405 where agents are standing by.
SOURCE Legal-Bay LLC