You’re the CEO of a medical device company that manufactures implantable orthopedic devices. Your company has enjoyed years of success with limited FDA involvement. But then the Warning Letter arrived. It was followed by a recall notice. The lawsuits came pouring in soon thereafter. How will your company manage the expenses associated with this flood of litigation?
This article will briefly describe different types of litigation expenses and the various strategies used to manage them. Some of these strategies include:
- Clear expectations for counsel through detailed Litigation Guidelines
- Strategic selection of counsel and fee negotiation
- Coordinated discovery
- Use of national vendors for consistency and cost-effectiveness
Litigation expense management continues to be an area of scrutiny for companies, as management of expenses is crucial to the successful outcome of a claim or lawsuit. Your input in these discussions is critical because developing a strategy to keep expenses in check is most effective when done at the outset of litigation.
Selection of counsel and attorneys’ fees
Attorney rates for services
Litigation support vendors
Medmarc’s Litigation Management Program
For additional resources contact the Marketing department
Medmarc is a part of ProAssurance Group, a family of specialty liability insurance companies. The product material is for informational purposes only. In the event any of the information presented conflicts with the terms and conditions of any policy of insurance offered from ProAssurance, its subsidiaries, and its affiliates, the terms and conditions of the actual policy will apply.
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