Medical Malpractice Reform Act of 1994

Medical Malpractice Reform Act of 1994 - Limits to $250,000 the total amount of noneconomic damages that may be awarded to a claimant and members of the claimant's family for losses resulting from the injury which is the subject of a medical malpractice liability claim or action (claim), regardless of the number of parties against whom the claim is brought or the number of actions brought.

Provides for a reduction of the total amount of damages received by an individual under such claim by any other payment made to compensate for the injury.

Specifies that, in any such claim in which future economic damages exceed $100,000, a defendant shall be permitted to make payments periodically, rather than in a single, lump-sum payment, based on when the damages are found likely to occur. Permits a court to waive such provision if the court determines that it is not in the plaintiff's best interests to receive payments on a periodic basis.

Prohibits an attorney from charging or collecting a contingency fee for services rendered in connection with such a claim in excess of: (1) 25 percent of the first $150,000 (or portion thereof) recovered, plus; (2) ten percent of any amount in excess of $150,000 recovered.

Makes this Act applicable to any such claim brought in State or Federal court, except with respect to a claim for damages arising from a vaccine-related injury or death to the extent that title XXI of the Public Health Service Act applies.

Sets forth provisions regarding: (1) preemption; and (2) effect on sovereign immunity and choice of law or venue.