How to Determine the Value of Future Medical Bills
Posted on behalf of Goldberg Finnegan, LLC on Jan 07, 2019 in Personal Injury
A significant part of the compensation you may receive through a personal injury claim includes the cost of your past and future medical treatment. For this reason, it is important to understand how an insurer will value the compensation it provides for ongoing medical treatment.
In a free legal consultation, a knowledgeable Silver Spring personal injury lawyer from Goldberg Finnegan can discuss how you may be compensated for the medical treatment you need after your claim or lawsuit has been settled. There is no obligation to take legal action after your free consultation.
Below, we discuss several factors that we may consider when determining the value of your future medical expenses.
What Is Included in Future Medical Care?
As a personal injury victim, you have the right to recover compensation for the full extent of your damages, including those expenses that you have not yet incurred. Payment for future medical care may cover:
- Follow up doctor visits
- Future surgeries
- Prescription medication
- Physical therapy
- Rehabilitation services
- Pain management
- Medical assistive equipment
When considering the value of your personal injury claim, it is important to understand which factors an insurer will consider. This includes your age, health at the time of your injury, life expectancy, the severity of your injury or disability, and the cost of the medical treatment you have already received.
Your needs as a patient may change as you progress through your healing. A lawyer can help procure evidence to show the future medical expenses you are claiming are realistic.
What is the Value of Future Medical Costs?
It can be difficult to determine the monetary value of future medial costs. Most lawyers will wait until you have been discharged and completed your initial treatment plan. Some attorneys may wait for you to reach your maximum point of medical improvement to discuss the potential cost of future medical treatment.
Your attorney may also work with health care providers and medical specialists to help determine the value of your future medical costs. Your treating doctor may be able to help you determine your future medical needs, such as whether you will require surgery and how long you will need to take pain medication.
Likewise, a physical therapist will be able to determine if you may require rehabilitation treatment to recover from a disabling injury. Based on this information, your lawyer will then prepare a settlement demand that takes this information into account and requests full compensation for the damages you have sustained.
Some factors that may influence the value of your future medical costs include:
- Whether there are alternative care options that are more affordable
- How effective current medical regimens have been and whether you will need additional treatment
- The likelihood that your condition will worsen after the settlement
- Expected inflation rates
- What method is being used to calculate the value of future medical expenses
Contact Goldberg Finnegan for Qualified Legal Representation
Estimating the value of future medical bills can be complex. It is important to have professional help in making this determination. Trying to take care of this calculation by yourself may wind up costing you much more in the long run if you do not anticipate certain expenses.
The personal injury attorneys at Goldberg Finnegan are experienced at accurately estimating the value of future medical expenses and other components of damages claims. We can also consult with expert witnesses to determine the value of your claim.
We work on a contingency fee basis and charge no upfront fees, so there is no risk in calling to schedule a complimentary case evaluation.
Call (888) 213-8140 to discuss your claim with an attorney.