Asset Protection Malpractice for Doctors Pembroke Pines, FL
Doctors spend their whole careers helping people. Yes, doctors in Florida and across the country do earn a good income for their dedication to their patients, but many people do not realize the education, training, and expenses it takes to run a practice. But an attorney who specializes in asset protection malpractice for doctors Pembroke Pines, FL clients recommend knows that all it takes is one malpractice lawsuit to wreak significant damage to a doctor’s personal and professional finances.
The national statistics for malpractice lawsuits are staggering. Each year, there are approximately 13,000 lawsuits filed in this country, with an average payout of about $300,000. It is estimated by the New England Journal of Medicine that 99 percent of doctors face at least one malpractice lawsuit by the time they reach 65 years of age. In one major survey of 4,000 doctors, just under half said they had been named in two to five lawsuits. Almost 60 percent of those surveyed said they were surprised by the legal action taken against them and 90 percent said the malpractice lawsuits filed against them were unwarranted.
The majority of malpractice lawsuits take an average of five years, from alleged injury to resolution. This means the average doctor spends more than 10 percent of their career dealing with malpractice litigation. This is especially true for Florida physicians. Florida has the third most malpractice lawsuits, averaging about 11,000 new cases filed each year. The state of Florida has no cap on damages like many other states do, which leaves a physical even more vulnerable to financial harm, even with medical malpractice insurance. This is why it is critical that doctors consult with an attorney who specializes in asset protection malpractice for doctors in Pembroke Pines, FL.
Other Legal Action Risks
Doctors should also be aware that it is not just malpractice lawsuits that can put their finances in jeopardy. The following are some of the other risks a physician may face:
- Contract disputes: A doctor who owns or is a partner in their own medical practice and/or facility also faces potential liability in any civil action another party may file. These civil lawsuits not only put the doctors’ practice finances at risk, but there are certain laws that enable plaintiffs to go after personal finances under certain circumstances.
- Federal or state healthcare fraud: If a practice is accused of fraud, not only can they face criminal charges, but there are often civil consequences as well, including recoupment of funds, fines, triple damages, and more. Examples of fraud are improperly billing Medicare or Medicaid and receiving illegal kickbacks from suppliers.
Call Our Office for Details
If you are a physician who is concerned about protecting your personal and professional assets, contact Wayne Patton JD, LLC to schedule a consultation. Attorney Patton has decades of experience in asset protection malpractice for doctors in the Pembroke Pines, FL area.