Dangerous Drug Lawsuit Funding May Cover Gaps in Federal Reporting System
When a patient is prescribed a medication, the assumption is the drug is both safe and effective. However, even commonly prescribed drugs can be linked to serious side effects. The federal system for reporting those adverse event contains gaps that may leave other patients vulnerable to those dangers before risks are shared with the general public and medical community.
For those that choose to file a lawsuit in these situations, dangerous drug lawsuit funding may help bridge the financial gap until the legal process is completed.
Adverse event reporting: a flawed system
When a patient experiences a serious side effect or adverse event after taking a medication, the problem can be reported to the U.S. Food and Drug Administration (FDA). The FDA even has a special program for reporting these events, known as MedWatch. In addition, the agency keeps a national database of adverse events associated with drugs and medical devices, called the FDA Adverse Event Reporting System or FAERS.
Unfortunately, inherent flaws in the FAERS system prohibit some side effects from being reported in a timely fashion. The Institute for Safe Medication Practices (ISMP) recently released a report identifying key problems with the FAERS system that the organization says need to be addressed if FAERS is to be used as effectively as possible. The more efficient FAERS becomes, the safer the drug industry becomes for patients and healthcare providers alike.
Problems with FAERS
Much of the data found on FAERS is submitted by drug manufacturers, rather than directly to the FDA, which means more incomplete reports submitted. According to the ISMP, 85 percent of serious reports sent directly to the FDA were complete, while less than half of those submitted by drug manufacturers met the same criteria. When information on these reports is incomplete, it can make it difficult for drug manufacturers or the FDA to provide accurate warnings about the products.
The nature of the current reporting system can also make it difficult to ascertain whether use of the drug directly led to the adverse event. While a series of common reports regarding a certain side effect lends strength to the theory that the drug actually caused the side effect, many patients must file those reports before the link can be made. This means the potential for many serious injuries before a warning is required or the drug is actually pulled from the market.
Patients that are injured by drugs, even those prescribed by their doctor, do have legal recourse for their injuries. They can file a lawsuit against the manufacturer if they believe they can prove the drug caused the injury and the manufacturer failed to provide proper warning about the risks associated with the product. However, the legal process can take some time; even longer in cases where a number of plaintiffs file common complaints against a single drug manufacturer.
Dangerous drug lawsuit funding can help
While you are waiting out the legal process, you are saddled with medical bills to treat your injuries and lost wages if you have to take time off work for recovery. Bill collectors do not care where you are in the legal process and the financial stress can make it that much more difficult to heal from your injuries and move forward with your life. A settlement loan can fill that financial gap by getting you the cash you need now, in anticipation of a future settlement or jury award.
At LawStreet Capital, we understand the financial stress involved with situations like these. We offer dangerous drug lawsuit funding based on what you are expected to receive from your case. You can get approval nearly instantly and cash can be in your account within 24 hours. You owe nothing until you have won or settled your case.
To learn more about your financial options at LawStreet Capital, contact one of our customer service representatives at 1.866.FUND.662.
