Serious accidents can easily render a person incapable of working for a stretch of time as they heal. Lacking this usual income stream makes it difficult to tread financial waters.
The best course of action may thus constitute legal claims for medical expenses, as well as wages that a person can no longer earn.
Lost wage calculation
JAMA Network published a study on both risk factors and the prevalence of medical debt. This is a major part of the cost of recovery. It is also a huge hurdle, financially speaking. Individuals who cannot work due to their injury also have no income to pay off the medical costs of tending to their injury. It creates a vicious cycle that could easily send someone spiraling into debt.
Calculating lost wages need to come as close to accurate as possible. In other words, hourly workers should calculate their wages by the hour, while salaried employees must calculate by pay period. A person can base lost commissions and other less stable forms of income on approximations based on previous documented earning periods.
Receiving forward-looking compensation
It is also possible to receive compensation for earnings that a person can no longer make in the future. Forward-looking valuation from the providers of medical treatment serve as invaluable in these circumstances. A victim can then use their predictions for when it is safe to return to work and request compensation for the time in between.
Diminished earning capacity may also require a person to lose their full working potential, and this is also something that a person can seek compensation for.