Recuperating after a fall is about more than just healing your body. The prognosis may be good and the injury will heal without problems, but there are other difficulties you may face. The emotional burden of recovery combined with the loss of pay from missed work and significant medical bills can change your life in an instant. Here at Jones | Raczkowski, people often ask us about their future financial burdens after slips, trips, falls and other accidents.
It is not only victims and their families that suffer the financial consequences of falls. A study by the Journal of the American Geriatrics Society found that an estimated $50 billion was spent on falls by the U.S. health care system in 2015. That means 6% of all Medicare payments and 8% of all Medicaid payments resulted from falling injuries. The study also indicates that Medicare paid over twice as much for nonfatal falls than private insurers. Public health programs pay approximately 75% of the costs of falls among older adults. Everyone is responsible for the financial costs of falls.
While every slip and fall case is different, it is possible to approximate the amount of compensation you could recover after a successful slip and fall lawsuit. To estimate your damages, add up your total out-of-pocket medical costs, loss of pay or paid time off due to missed work and any damage to your personal property.
Clearing up confusion about the costs of a slip and fall can be one of the most significant steps toward recovery. For more information about slip and fall cases, please visit our webpage.
