Litigation Funding for TBI Rehabilitation
Traumatic brain injury (TBI) victims can suffer long-term effects requiring intense and specialized rehabilitation. This can often be a costly endeavor, leading to additional financial strain on an already difficult situation. When the plaintiff does not have sufficient insurance or ability to pay for their medical needs, attorneys can consider bringing litigation funding into the equation to help their clients suffering from a TBI receive the best care possible. Considering that there are almost 611 TBI-related hospitalizations a day, attorneys will find themselves representing plaintiffs with TBIs.
How Does Litigation Funding Work?
Litigation funding is a broad term that typically encompasses a few funding solutions to help plaintiffs in their time of need. Many plaintiffs do not have insurance or sufficient coverage, and may not be able to take advantage of traditional forms of financing such as credit cards or bank loans. Without access to sufficient funds, they may be forced to wait until their case has been resolved before receiving any medical care, potentially delaying their recovery. Through litigation funding, however, attorneys can help their clients get access to much-needed funds, and even secure funding for case costs.
Medical funding is offered by specialized companies to plaintiffs who are waiting for a settlement or verdict in a personal injury case. It allows the injured plaintiff to receive the necessary medical treatment—even complex procedures such as surgery—without having to pay upfront costs. The funding company pays the medical provider directly, then waits for the case to resolve before being paid back.
Pre-Settlement Funding is a way for plaintiffs to tap into their future settlement early in order to cover immediate costs and expenses associated with their personal injury case. It is not a loan; rather, it is an advance against the plaintiff’s expected jury award or settlement that does not need to be repaid if the case is lost. The funds are provided by third-party companies who purchase part of the plaintiff’s claim, allowing them to benefit from any eventual payment without having to wait until the end of a lengthy lawsuit process. Pre-settlement funding can be used for a variety of needs such as medical bills and living expenses.
Case Cost Funding can help attorneys bring in the most qualified experts —especially when dealing with TBI cases that involve highly complex medical issues and higher damages awards than other types of personal injury claims. Many attorneys may not be able to pay for the costs of experts during litigation, Case Cost funding helps level the playing field. Being able to bring in the right experts helps attorneys demonstrate their client’s serious injuries and commitment to achieving the best recovery or access to long term care —which could lead to a more favorable outcome during trial or even result in a settlement agreement that will take care of the plaintiffs needs.
Benefits of Litigation Funding for TBI Victims
For TBI victims, litigation funding can provide much-needed access to specialized rehabilitation services at a time when they are most needed. For example, physical therapy and cognitive rehabilitation programs may require expensive equipment and highly trained professionals that could add up quickly without some form of outside assistance. Litigation Funding can also help alleviate the financial burden during recovery periods so that victims can focus on healing instead of stressing about how they will pay for treatments.
As you are presented with complex TBI cases, remember that Litigation Funding can provide an invaluable resource for TBI victims who require intensive rehabilitation services but cannot access them due to financial constraints. HMR Servicing is a full service litigation funding company and offers all 3 solutions for cases ranging from the most catastrophic TBIs to physical therapy and diagnostics.
By leveraging medical funding and pre-settlement funding from HMR, plaintiffs can gain immediate access to necessary resources to show the seriousness of their injuries in their pursuit of justice during negotiations with defendants or insurance companies. Attorneys can leverage case cost funding to ensure their clients have access to the best experts when seeking justice after suffering a TBI due to someone else’s negligence or wrongdoing. HMR stands out from other competitors by offering case cost funding on a case by case basis, an attorney does not need to put up their entire case portfolio as collateral.