Future medical expenses are often a critical component of personal injury claims, especially when a victim has suffered a catastrophic injury. At Johnson and Taylor, we help personal injury clients throughout Oregon pursue compensation that can safeguard their long-term health and financial security. Our personal injury attorneys help you understand the ins and outs of how to calculate future medical expenses and how they may impact a settlement or award.
Types of Future Medical Costs
Future medical expenses can include many different treatments, services, and items, including:
- Diagnostic testing
- Medication
- Surgery
- Hospitalization
- Doctor’s appointments
- Rehabilitation and therapy
- Mental health treatment
- Nursing home care
- Medical Equipment
- Prostheses
- Assistive devices
- Home modifications
Each person’s needs are different. For example, someone who loses a leg in a car accident will likely need a prosthesis and home modifications, while a victim who sustains a traumatic brain injury in a slip and fall incident may need ongoing treatment with a neuropsychologist. Our personal injury lawyers take all the specifics of your situation into account and ensure the cost of all necessary future medical treatment and services are included in the total settlement amount.
Assessing Future Medical Needs
To accurately calculate future healthcare costs, it’s vital to determine what an injured victim’s future medical needs will be. An injured party typically undergoes a thorough medical evaluation in which healthcare professionals determine the extent of the person’s injuries, their prognosis for recovery, and the anticipated medical treatments and interventions that may be needed in the future.
This evaluation may involve physical examinations, diagnostic tests, and consultations with medical specialists. Some common factors that are often considered by health care providers and medical experts are chronic pain, mobility limitations, the need for ongoing therapy, and the risk of future medical complications.
In addition, our personal injury lawyers may call on the expertise of a life care planner to help estimate future medical expenses. Life care planners specialize in assessing the future medical and non-medical needs of people with catastrophic injuries. They develop comprehensive plans outlining specific medical treatments, rehabilitation, medications, services, assistive devices, and accommodations required over the injured person’s lifetime.
Documentation of Past Medical Expenses
Treatment records and the costs of past medical expenses can also help our personal injury attorneys and experts accurately estimate future medical costs. This may include medical records, bills, invoices, receipts and statements from physicians, hospitals, therapists, and other healthcare providers.
What is Present Value Calculation?
Future medical expenses are often converted into present value to help assess future medical expenses in today’s dollars. An economist or another financial expert may be consulted to perform present value calculations and assess the financial impact of future medical costs. Present value calculation considers factors such as age, life expectancy, inflation, interest rates, and estimated annual costs of care.
Negotiating Future Medical Costs in a Personal Injury Settlement
Future medical expenses are often a significant element of the total amount of damages sought in a personal injury claim. Unfortunately, most insurers fight tooth and nail to avoid paying adequate settlement amounts, and may claim that your injury isn’t that severe or is due to a preexisting condition.
During settlement negotiations, your personal injury lawyer will provide evidence and documentation that supports the amount they are asking for future medical expenses. If your case goes to trial, this evidence will be vital to convincing a judge or jury whether to award the full amount of compensation you’re seeking for future medical expenses.
Future Medical Bills and Structured Settlements
In cases involving significant future medical costs, an injured victim may opt to get paid via a structured settlement instead of a lump sum. With a structured settlement, you receive payments over time, which helps to ensure you have the funds for future medical costs and other needs.
Hire an Experienced Attorney to Determine Future Medical Expenses in Oregon
Determining future medical costs in personal injury claims requires careful consideration of many different factors. Our skilled personal injury attorneys can help you pursue compensation that will fully cover your ongoing medical care and protect your long-term well-being. With proper documentation of past treatment costs and the input of medical and financial experts, they can create compelling arguments for future medical expenses in Oregon.
Our attorneys often employ a collaborative negotiation style, which can help save a significant amount of time and headaches, court expenses, and attorney fees. However, if litigation is necessary, we’ll fight to get the results you need and deserve.
Our personal injury lawyers serve clients in Salem, Eugene, Bend, the Oregon Coast, Medford, and throughout Oregon. Our team litigates probate and estate planning and divorce and family law matters as well.
Contact Our Personal Injury Lawyers in Salem, Oregon
At Johnson and Taylor, we care about your long-term health and happiness, and won’t back down when it comes to advocating for your rights and interests. Our team is proud to offer quality legal representation to our Spanish-speaking clients. To schedule a free consultation with our personal injury attorneys in Salem, OR, contact us or call 503-990-6641.