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How Are Catastrophic Injury Settlements Calculated?

By definition, catastrophic means to involve or cause great damage, harm, destruction or suffering. In personal injury law, a catastrophic injury is one that will have an enormous, life-changing impact on the victim. It can affect a victim’s daily activities, quality of life, relationships, ability to work, and more. If a catastrophic injury stems from someone else’s negligence, the victim may be entitled to financial compensation for all losses suffered.

Attorneys Calculating the Value of a Catastrophic Injury Settlement

Types of Damages

Damages in a catastrophic injury claim may include:

  • Past and future medical expenses
  • Live-in or around-the-clock care
  • Disability costs and accommodations
  • Travel and transportation
  • Lost wages from the time of injury to the date of the claim
  • Lost future capacity to earn due to a long-term injury
  • Pain and suffering
  • Emotional distress or mental anguish
  • Diminished quality or enjoyment of life
  • Loss of consortium
  • Punitive damages, in some cases

Hospital stays, surgeries, physical therapy, rehabilitation, medications, and many other health care expenses are among the types of economic damages recoverable in a catastrophic injury claim. Noneconomic damages can also be awarded, providing for compensation for the physical pain and psychological trauma that you have endured. One of the most important jobs of your Philadelphia catastrophic injury attorney is to ensure that your damages claim includes all of the types of economic and noneconomic harm that you have suffered.

Injury Severity and Recovery Time

The value of a catastrophic injury case depends on many factors, one of which, of course, is the severity of the injury. By its very nature, a catastrophic injury has a major impact on the victim’s life and future. It is a life-changing injury such as a spinal cord injury with paralysis or a traumatic brain injury. In general, the damages resulting from severe injuries are greater than those resulting from mild injuries, so catastrophic injury victims require greater compensation for their harm. For example, a catastrophic injury could cost hundreds of thousands of dollars in medical care alone.

Your lawyer will be able to advise you about the appropriate timing for filing your case.  It often makes sense to file suit as soon as possible to ensure that relevant evidence is preserved and to get the earliest possible trial date for your case.  In certain cases, it may be advisable to wait until you have more information about your prognosis and the treatment you will require before initiating suit.

The longer it takes a victim to recover, the greater the value of the claim typically is in terms of lost wages and pain and suffering. Other factors that affect the value of a catastrophic injury claim include the strength of the liability case, the venue where the case may be filed, the cost of litigation, how many parties can be held liable, and the insurance coverage available.

Hiring the Right Attorney Can Increase The Value of Your Case

Another factor that defendants and their insurance companies consider in deciding the value of a catastrophic injury lawsuit is the law firm that represents the victim.  Defendants and insurance companies are likely to pay more money to settle a case handled by an experienced catastrophic injury lawyer with a proven track record of getting big results in big cases than they would pay to settle the same case handled by a lawyer without that track record.

Contact Our Catastrophic Injury Attorney for a Free Case Evaluation

The process of calculating a catastrophic injury settlement is complex. An experienced catastrophic injury lawyer can also give you valuable insight on the potential value of your case.  The best way to get an estimate of how much your catastrophic injury claim might be worth is by consulting with a personal injury attorney in Pennsylvania. An attorney can carefully review your specific case to determine its potential value based on the circumstances. Call Youman & Caputo at (215) 302-1999 to request a free case consultation.