If you are attempting to collect compensation as part of an injury case, you can be compensated for a variety of expenses. Some expenses are obvious, like current medical bills or lost wages because of time away from work. Other expenses are not so easily determined. One such award amount is how much you’ll receive for future medical expenses. In today’s blog, we take a closer look at how future medical expenses are calculated in an injury case.
Calculating Future Medical Expenses
As we alluded to in the intro, coming up with an accurate figure for your future medical expenses is not easy. However, it’s imperative that you try your best to come up with an accurate figure, because if you agree to a final settlement, you’re not going to be able to seek additional compensation if things become more expensive than you originally thought. In most cases of full and final settlements, unless there has been an unseen and unpredictable new medical development, you’re not going to be able to reopen your case and collect more compensation. That’s why you need to ensure you account for all future medical expenses as best you can.
But how exactly can you do this? The first thing you’ll want to do is to connect with an injury lawyer like Dean and the team at Margolis Law Firm. We have a wealth of experience collecting future medical expenses, and we can do the same for you. Here’s a look at some of the factors we’ll use to calculate your future medical expenses payment.
Doctor Consultation – Your doctor is the biggest source of information in regards to what is to be expected during your recovery. They can’t see the future, but at the same time, they are best equipped to suggest a recovery timeline and what might be in store in terms of your recovery or additional medical needs. We’ll consult with your doctor and go over all the potential expenses and hurdles to a complete recovery to paint an accurate picture of what you’re up against and what type of compensation you’ll need.
Therapist Consultation – The majority of injured individuals who are seeking compensation will need some sort of physical or occupational therapy to help them reach maximum medical improvement. We’ll consult with your therapy team to see what lies ahead, what types of accommodations you might need, and what life will look like once you’ve made as full a recovery as possible. If you’re going to need months or years of surgery, this will need to be factored into your settlement award.
Permanent Damage – If you have suffered permanent damage as a result of your injuries, you’re never going to be able to make a full recovery. Minnesota has a standardized scale to account for some types of permanent injuries, and your lawyer can go over these amounts and help determine if you’ll want to ask for additional compensation on top of the standard award.
Your lawyer can use these factors to help determine a fair amount if you want to agree to a full and final settlement, but you also have another option available to you. You can stipulate in your settlement that you will be compensated for certain types of future medical expenses directly related to your work injury. It’s harder to get an insurance company to agree to this type of settlement, but this is easier to do if you have an injury lawyer by your side. Insurance companies prefer to have a fully closed case, but if projecting future medical expenses proves difficult, it may end up being in everyone’s best interest so that you get what you’re owed.
So if you or someone you know has been injured in a personal injury or workers’ compensation accident and is struggling to figure out how to calculate their future medical expenses, reach out to Dean and the team at Margolis Law Firm to ensure you get what you deserve. For more information, and to avoid being taken advantage of by the insurance company, reach out to the Margolis Law Office today.
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