Stryker Settlement: When will I get paid?
Hi, this is Stuart Talley. I’m the partner here responsible for the Stryker Rejuvenate and ABG 2 litigation and the reason I’m doing this video today is to answer some questions that many people have asked about the recently announced Stryker Rejuvenate and ABG II settlement.
As you may know, there is a large settlement in place that will cover thousands of people and the question that everybody asks is: if I decide to accept this settlement offer that’s being made, when will i get paid? And the answer to that is it is difficult to answer the process of going through thousands of settlements and figuring out whether people qualify and how much they will receive is an incredibly complex process.
There is a settlement administrator that’s being put in place now to administer all the settlements and this is going to be a company called Garden City and Garden City will hire hundreds of individuals retired nurses. People who are skilled at reviewing medical records to help process this mass wave of settlement claims that are going to be made over the next couple months. The process of getting the infrastructure in place is extremely time-consuming. Right now, the way this settlement is structured is there are two parts. There is a base award and then there’s what we call enhancements.
The base award is pretty simple to figure out. If you had a revision surgery that qualifies you receive the base award there might be some small deductions for your age or whether your hip was put in as part of a revision surgery. But it’s a pretty straightforward process to figure out what the base award is now we expect that base awards will be will be entirely processed and payments will start to be made probably in the late summer of 2015 so we’re looking at about eight or nine months from now.
Now the enhancements are much more difficult to evaluate and process. There are many medical records that need to be reviewed there are very specific things that have to be shown in the medical records to qualify for an enhancement. If an enhancement is denied or objected to by Stryker, there’s an appeal process and so what I reasonably expect is that the enhancement part of the settlement will not be paid probably until early 2016. That’s how time-consuming and complicated this process is.
Now I understand for many people waiting nine months to a year for their settlement is seems extraordinary. Seems like a long time but the reality is that the alternative of not having a settlement means waiting even longer. There are more than 6,000 cases on file right now. The idea of not taking the settlement because you’re going to have to wait too long to get paid needs to be compared to the alternative which is getting in line behind 6,000 people to get your day in court. So I understand there’s probably going to be a lot of people upset that it’s going to take so long to get paid but unfortunately that’s just the way it is. Now if you have questions about the settlement, how it works, the timing of things, we’re happy to help. We’ve been through the settlement agreement. It’s a extremely complex hunter page document but we are here to help so if you have any questions give us a call. You can reach us at this phone number on the screen or you can visit our website and fill out one of our online forms.