Q: I’m going to need medication to treat my truck accident injuries for a long time. How do I cope with rising prescription drug costs, and include these expenses in my truck accident claim?
Truck accident victims must cope with numerous issues, including rising prescription drug costs. Between 2012 and 2016, prescription drug costs increased by 27 percent. When you’ve been injured in a truck collision, you should ensure that your future recovery is protected.
Predicting Drug Costs
The future cost of prescription drugs is a critical concern for many truck accident victims. Past expenses are easy to account for, since this money was already spent on medical care. However, when a collision results in injuries requiring long-term care, future drug costs must be estimated. Since these costs continue to escalate rapidly, experts are needed to estimate future expenses.
This team of professionals may include:
- Doctors. Once maximum medical improvement is reached, the treating physician can determine future prescription drug requirements.
- Economists. Economists study market trends and other factors to determine likely future health care costs. These professionals can provide expertise regarding the rising cost of prescription drugs.
- Life care planners. These experts estimate the cost of medical procedures and medications. To do so, they consider the current rates of medical inflation, as well as the patient’s general health prior to the accident, his age, and the available treatment options. A life care planning expert projects future prescription drug costs, and then calculates a discount rate to determine the present value of these expenses.
Accepting a Settlement
If you’ve been injured in a truck accident, the settlement you accept will be the only compensation you ever receive. If you settle your claim now, only to later find that your future prescription drug costs are much higher than you originally anticipated, you'll be responsible for paying those bills.
You need an attorney who knows how to secure testimony from the right experts, to help you receive the compensation you deserve. To learn more, contact the law offices of Steve M. Lee, P.C., by clicking the Live Chat button on this page.