Two basic points that determine how much medical malpractice legal professionals make include lawyer\’s specialization and the compensation scheme agreed upon by the clientele and the legal practitioner.

A medical malpractice or medical negligence is when a physician deviates from the accepted standard of practice set by the healthcare community. Medical malpractice lawyers are the ones who either present or defend the lawsuits charging health professionals of this kind of standard deviations, which can earn them amounts of cash based on some components. To provide you with an idea, here are pertinent elements that affect how much medical malpractice lawyers make:

Attorney\’s specialization

The amount of money medical malpractice legal professionals earn is mainly determined by their field of expertise. The far more specialized the field of practice the attorney focuses on, the better his rates will be. Surgical, dermatological, and also obstetrics/gynecological malpractice attorneys, for example, can earn up to millions each year for the cases they deal with.

Compensation scheme

As with other attorneys, medical malpractice barristers earn differing amounts of money every year or even per lawsuit, based on the way they are paid for. They may be compensated by their billable hours, through a prepayment fee, or by conditional fee basis.

*Billable hours. Billable hours refer to the total number of working hours a legal professional, especially from a medical malpractice law firm, works a specific legal task for the client. When a medical malpractice legal practitioner works more hours for a certain client, he makes more money for such cases. The rate per hour is usually fixed practically in most firms from different jurisdictions, just like how medical malpractice attorney michigan law firms impose.

* Retainer or prepayment fee. With this payment system, the attorney or law office receives a fixed amount of cash ahead of time for the legal services to be presented for the case in behalf of the clientele. The amount is normally non-refundable and can also either be paid in a one-time payment or even on an installment basis, commonly every month. The upcoming expense of services along with other expenses involved in the medical negligence lawsuit that the law office or the lawyer incurs on behalf of the client will be extracted from the retainer fee. Should the fees go over the prepayment fee, the client will pay the amount. It is sort of a prepaid fee for the attorney. Besides that, the retainer fee also safeguards the client by forbidding the legal practitioner from representing his opponent. It is essential that before the attorney and the client agree on the repayment fee, both sides obtain a documented copy of the payment, and also the stipulations of the contract.

* Contingent fee. A medical negligence attorney receives up to hundreds and thousands of dollars from a winning case on a contingency fee also known as conditional fee-based payment system. The lawyer in cases like this receives a contracted share from the amount retrieved by the client depending on the conclusion of the medical negligence lawsuit. Mostly, 1/3 of the client\’s recovery is apportioned to the legal practitioner, minus the charge of services and also other expenses incurred during the whole legal representation. The common arrangement here is only applicable if the case ends up with a positive outcome. Or else, no payment would be made to the attorney. This kind of payment structure is particularly beneficial to people who cannot really afford to pay for the services of the lawyer. However, the lawyer managing the lawsuit shall be committed to carefully and faithfully act on the clientele\’s case.

To sum things up, medical malpractice lawyers can earn from hundreds to millions of dollars for each case they work, depending on their specialization, as well as the payment scheme agreed upon by the lawyer and the client.

Author Bio: Written by Douglas R. Williams. For significant information on how to find medical malpractice attorney michigan organizations or freelancers, please go to http://www.bestlegalresource.com/finding-a-medical-malpractice-attorney-in-michigan.

Category: Legal
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