How to Calculate Future Medical Expenses in a Personal Injury Settlement

Medical expenses are a substantial component of economic damages in a personal injury claim. They also impact non-economic damages in cases where a multiplier is used in their valuation. 

Accurately calculating medical expenses is crucial for securing fair compensation.  When recovery takes relatively long, you may have to consider future medical expenses when valuing your claim.

This guide delves into future medical expenses valuation and can give your insight into what goes into it and the role of experts in the valuation.

What Are Medical Expense

In personal injury lawsuits, medical expenses include all costs associated with treating injuries resulting from an accident. These expenses are not limited to physical injuries. If the accident causes emotional or psychological harm, the costs of providing necessary interventions are also considered recoverable medical expenses.

However, such treatment must be recommended by your treating doctor, with evidence showing that it was necessary. Medical expenses can cover ambulance charges, diagnostic tests, hospitalization costs, prescription medications, living aids, and travel costs to and from doctors’ appointments.

There is no specific formula for calculating medical expenses. You simply need to add up all related costs and ensure you have the necessary documentation, such as receipts, hospital bills, and invoices, to prove them.

Calculating Future Expenses

Calculating future medical expenses becomes more of a challenge because you do not have physical bills, receipts, and invoices to work with. Instead, you have to rely on expert witness predictions to determine costs. 

“The courts won’t take your word for it. It works with facts, and you must show the facts, and this is where the input of an expert witness shines,” says personal injury lawyer William Umansky of The Umansky Law Firm Criminal Defense & Injury Lawyers. The Role of Expert Witnesses in Determining Future Medical Expenses

Your lawyer is an expert in legal matters, but their opinion on medical issues may carry limited weight. Therefore, they must rely on expert witnesses to determine future medical expenses. These expert witnesses should have a background in the specific type of injuries the victim has sustained.

For example, if the victim has suffered spinal cord injuries, a spinal cord specialist would be the most suitable expert to help determine the patient’s future medical needs. This expert can provide insights on potential future surgeries, possible hospitalizations, and long-term care requirements.

Engaging a Lawyer in the Process

Future medical expenses are inherently more speculative than actual expenses, which means you are likely to face greater opposition from the at-fault insurer. The insurer will also present their own expert witnesses. Although expert witnesses are expected to provide neutral opinions, the defendant’s expert may lean toward supporting the defendant’s case.

Working with a personal injury lawyer, even when you may have an expert witness, significantly improves your odds of a fair outcome. It is important to consider that the chances of accessing a reliable expert witness without the help of a lawyer can be pretty slim. 

The first expert you should consider involving in your case is a lawyer who can help you organize everything effectively. Keep in mind that you may not always secure the full amount you seek for future medical expenses, but a lawyer can help you negotiate a compromise that works for all parties involved.