How are future medical expenses calculated in a settlement?

When you are injured, it can cause a litany of issues, with some injuries lasting months or years following the accident. However, many people are unsure of the compensation they are entitled to, as they may require continued medical care following the conclusion of their settlement. As such, the following blog explores future medical expenses and your right to this compensation. You’ll learn how these expenses are calculated and why working with personal injury attorneys is in your best interest to fight for the compensation you deserve during these complicated times.

What are future medical expenses?

When you’ve sustained injuries in an accident, whether you were hurt in a car accident, slip and fall, or medical malpractice incident, you can incur astronomical medical bills as a result. While you may know that you can include medical bills in your settlement claim, you may not know what will happen to the cost of medical treatment you require after the claim has been settled.

Known as future medical expenses, you can seek compensation for the cost of care you will need in the future as a result of the damages caused by the negligent party. Generally, injuries like neck and spinal cord injuries, broken bones, and traumatic brain injuries will require prolonged care that will extend past the time your claim is settled. However, as these costs were caused by the negligent party, they are responsible for covering the cost. Common expenses include physical therapy, surgeries, medications, medical equipment, and follow-up appointments with doctors and other medical professionals.

How are these calculated?

Calculating the cost of future medical expenses can be incredibly complicated. Generally, you’ll require the assistance of a few individuals, including an attorney and medical experts. Your attorney can help guide you through this process while collecting evidence and utilizing expert witnesses to testify about the costs you could incur based on your unique circumstances, injuries, and medical history.

For example, your doctor may be called to testify about the extent of your injuries and the treatment you require in the future. Though they cannot guarantee what you will need, as you may or may not heal in a linear manner, they can provide insight into the cost of care. Additionally, working with a financial expert, like an accountant, can help ensure the calculations are correct, even taking future inflation into consideration to help you recover the funds you deserve.

Calculating the cost of future medical expenses can be incredibly complicated, as you’ll find that the other party’s insurance will do everything possible to avoid paying for something that hasn’t happened yet. As such, it’s imperative to connect with an experienced attorney with Friedman Schuman Layser. Our firm is committed to doing everything possible to help you fight for the funds you are entitled to when you’ve been hurt because of another person’s negligent actions. Contact us today for more information.

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