How Is Future Medical Care Calculated in a Personal Injury Claim?
Calculating future medical care in a personal injury claim is a complex process that relies on careful coordination between healthcare providers, economic experts, and legal professionals to ensure a fair assessment. The objective is to determine how much compensation is necessary to cover your future medical costs, considering that these expenses may persist for years or even a lifetime.
Medical Evaluations and Prognoses
The first step is a detailed medical evaluation conducted by healthcare providers who can diagnose and outline the injured person’s current health condition. Beyond diagnosing the injury, these providers assess the likely trajectory of the injury, or prognosis, which gives insight into future health needs. This step includes determining the probability of full recovery, the likelihood of chronic symptoms, or the possibility of secondary health issues arising from the original injury. Specialists, such as orthopedic surgeons, neurologists, and physical therapists can provide written reports or testimony.
Types of Future Medical Expenses
Ongoing Treatments
For severe injuries, ongoing treatments such as surgeries, physical therapy, or pain management may be necessary. These procedures need to be anticipated and included in the claim.
Medications and Medical Equipment
Chronic conditions often require long-term medication and, in some cases, medical devices like wheelchairs, braces, or specialized beds. The cost of these items, as well as their expected duration of use, should be accounted for.
Rehabilitation Services
Many injuries require rehabilitation through services like physical, occupational, or speech therapy. For instance, spinal injuries may necessitate a lifetime of physical therapy sessions to maintain mobility and manage pain.
Psychological Support
Injuries resulting in significant lifestyle changes can lead to psychological distress, depression, or post-traumatic stress disorder (PTSD). Mental health support, including counseling or psychiatric care, may be included in the medical expenses, depending on the specifics of the case.
A Life Care Planner is Critical
A life care planner is a professional, often with a background in healthcare or rehabilitation, who specializes in projecting long-term care needs and associated costs. This expert evaluates the injured person’s medical records, talks to treating physicians, and assesses the type of care the patient will require.
They then create a life care plan, a comprehensive document outlining the services, treatments, and associated costs the patient will likely need for the rest of their life. Life care plans are often a key component in personal injury claims as they provide a structured, evidence-based estimate of future care needs, which helps adjusters or courts to calculate fair compensation.
Economic Calculations and Inflation Adjustments
Once future medical needs are determined, an economic assessment by an economist or forensic accountant is needed to project the cost of future care by considering current healthcare costs and adjusting for inflation. Medical costs historically rise faster than the average inflation rate, so this adjustment is crucial to ensure that the compensation is adequate for future prices.
Additionally, the calculation may factor in discount rates. Since compensation is typically paid as a lump sum, economists apply a discount rate to account for the fact that the lump sum can earn interest over time, which may offset some future costs.
How an Attorney Can Help
The role of a personal injury attorney in Paducah in this process is to present these future costs compellingly and persuasively. Defense teams may try to downplay the extent of future care needs to minimize payouts. An attorney will work closely with medical and economic experts to ensure your claim and the amount of compensation you are seeking for future medical care is backed by evidence and expert testimony.