Comprehensive Economic Impact Assessments
Our team of PhD economists offers expert opinions and valuable insights for plaintiff and defense personal injury cases, setting you and your client up for the most likely outcome.
Provide expert analysis and testimony regarding economic damages incurred due to injury or illness. This may include calculating the present value of lost wages, future medical expenses, and household services while incorporating the impact of economic factors on these damages. Our expert economists often add value to cases by forecasting present value after completion of vocational loss of earnings capacity assessments and life care plans. When individuals are facing years of monetary impact due to injuries, our expert economists are essential in calculating what the true financial burden will be over time.
How We Help
Educate The Jury:
It is essential that jury members understand the information presented to them. LCPMD experts are positioned to engage in straightforward discussions about life-changing injuries, essentially translating the complicated jargon into layman's terms. Our experts educate jurors about the real impact of injuries and what this means for future planning, providing comprehensive yet easy-to-understand analyses of essential future needs.
As an experienced lawyer, you know how difficult it can be to obtain reliable, trustworthy reports and testimony. Spend less time organizing and following up with your experts and the progress of their reports and more time focusing on your client. Our dedicated case managers are committed to making your life easier throughout the entire process, from pretrial filings to the conclusion of the case.
You work hard to grow your firm and establish your name in the legal community. Verdicts are never guaranteed, and confidence in your experts is essential when cases go to trial. LCPMD’s team of trusted experts share their expertise in credible and defensible reports. This means fewer surprises for you and ongoing support for your positive reputation.
Present Value Assessments
By analyzing the economic impact of an individual's injury or illness, the economists at LCPMD are positioned to provide expert testimony regarding the appropriate level of compensation needed to ensure that the injured party is able to meet their current and future needs.
Present Value Assessment of Loss of Earnings:
An estimation of the value of lost earnings, lost earning capacity, mitigation earnings, and retirement benefits. This assessment is typically done when the injured party has had a change in abilities to perform prior job functions and as a result, has diminished wages or is unable to work post-injury.
Present Value Assessment of Life Care Plan:
This analysis considers what impact the economy will have on future care costs as outlined in the life care plan. When appropriate, the growth in the cost of long-term care and household services may be addressed. This is typically included for those individuals who have reduced or lost abilities to manage household activities and/or those who need assistance from home health or facility care.
Meet Our Team
We recognize your case needs to be in the right hands and trust in your experts is essential. Our national team of board-certified physician life care planners, vocational experts, and PhD economists utilize their years of expertise to develop plans and reports that are credible and defensible. Join the hundreds of attorneys who have already partnered with the strong medical foundation economic damages experts at LCPMD.
“Please let everyone on your end know that we were able to reach a policy limit settlement on this matter thanks in large part to the excellent work and reports that the physician life care planner, vocational, and economist experts from your company did. This is the first time I've used your company and I'm quite pleased. I look forward to working with you in the future."
-A.B., Plaintiff's Attorney
“The team and the experts were very responsive, professional and helpful during the process of litigation up to the trial period. Would highly recommend LCPMD as they are exceptional."
-G.G., Defense Attorney
“Thank you for all your help with this rather complex case, with sometimes complicated legal challenges. After your deposition testimony, we were able to settle the case later that same day, and avoid the need for trial scheduled for the following week."
-J.W., Plaintiff's Attorney