RPC Calculation of Present Value Damages Consultants
Ronald T. Luke
JD, PhD
President
Brian Piper
PhD
Senior Consultant
Angela VanDerwerken
PhD
Senior Consultant
Peggy Hamilton
CPA
Senior Consultant
Calculation of Present Value
For either medical or vocational damages it is necessary to calculate damages in future dollars and then discount these future damages to present value as of the time of trial. RPC has expert economists who are able to bring all damages calculations to present value. We compute different inflation rates for specific goods, services and wages. Our procedures ensure consistency between the inflation and discount rates used. The time series data used in these calculations of damages are continuously updated as government agencies publish new statistics. We also take the particular facts of each case into consideration to ensure the most accurate data and practices are used in our calculations.
For more information, contact Athenna Dill, Personal Injury Case Manager, 512.371.8005, adill@rpcconsulting.com.
RPC Calculation of Damages and Present Value Blogs
Determining the Reasonable Value of Future Medical Costs in Texas Personal Injury Cases
The cost of future medical care is often the largest component of economic damages sought and awarded in personal injury cases. RPC can calculate the reasonable value of goods and services in life care plans based on commercial health insurance allowed amounts (i.e. the market value of healthcare) or on specific fee schedules the plaintiff may be eligible for, such as Medicare, Medicaid, or Workers’ Compensation.
Reasonable Charges and Reasonable Value of Medical Services in Texas Personal Injury Cases
Past and future medical expenses are major elements of damages in personal injury cases. In many cases they are by far the largest element of “hard” damages and are used as a reference point for jurors in awarding pain and suffering and other “soft” damages. While plaintiffs should be fairly compensated for their medical expenses, the expenses should not be unfairly inflated. Recently we modified an actual report on reasonable charges and reasonable value for a defendant to create a sample report showing RPC’s data sources and methods of analysis for part medical expenses. The sample report is available to download here.
Why You Need Both Vocational and Economic Experts in Wrongful Termination Cases
In a wrongful termination case, damages may extend through the Plaintiff’s work-life expectancy and retirement. When the facts show pecuniary damages may last longer than a normal job search period, both the plaintiff and defendant may need two experts: an Economist and a Vocational consultant.