The Things You Should Consider While Calculating Damages in a Catastrophic Injury Case
Catastrophic injury lawsuits are notoriously difficult. Victims of these devastating injuries like brain damage may never be capable of working again, although they may need treatment for the rest of their lives.
The claims associated with catastrophic injuries are distinct from those associated with more minor accidents because of the irreversible changes to one’s quality of life that result from such injuries.
Here are things you should consider while calculating damages in a catastrophic injury case.
- Medical Costs
Your compensation will be calculated based on the total amount of your medical expenses. Transportation to and from the medical institution and the cost of any necessary treatments are all in these costs.
Treatment costs for catastrophic injuries are high. In addition to the initial costs of hospitalization, surgery, and emergency department care, these injuries frequently necessitate protracted therapy and continuous medical attention from specialists.
The computation of damages for a catastrophic injury must consider all current medical expenses. In addition, medical and economic specialists can offer testimony on the associated long-term and future expenditures based on their in-depth knowledge of how these injuries may evolve over time. If you incur any of these costs, save your receipts so you can get reimbursed.
- Financial loss
There are two approaches to determining how a catastrophic injury will affect a person’s capacity to earn a living:
Lost earnings: These are the revenue losses already incurred from the victims’ catastrophic injuries.
Loss of ability to earn: This represents the money one would have been able to make throughout their working lives if it weren’t for the catastrophic injury.
The process of calculating lost wages is relatively simple. Your lawyer will examine your pay stubs and tax records to figure out how much you would have made and will pursue financial compensation for the period from the injury date to the present.
Damages for a loss of earning capacity are trickier. Your education, training, and aptitude for a specific job may have enabled you to make more money.
Once more, determining the amount of compensation you may be entitled to for losses resulting from the inability to work depends on expert testimony. This amount could involve lost pay, perks, bonuses, and more in the long term.
- Extent of pain and suffering
You are financially compensated for the non-financial effects of an injury on your quality of life and enjoyment through pain and suffering damages. Compelling proof must be provided to support your claim for pain and suffering because it cannot be valued in dollars.
To calculate the value of non-economic damages in your claim, a catastrophic injury attorney will examine your medical records and speak with experts.
You must also discuss with your lawyer about any ongoing physical and psychological difficulties you are experiencing because this can support your claim for compensation.
If you’re asking how much money you might be able to recover for a catastrophic injury, the short answer to your question is, “It depends,”. But regardless of your circumstance, it’s crucial to consult with an experienced lawyer as soon as possible.
Victims of catastrophic injuries may be eligible for sizable financial compensation for their losses. But without a lawyer’s help, you might settle for much less than the value of your claim. That’s why it is vital to hire a catastrophic injury lawyer.