Personal Injury Economic Analysis, Related, and Testimony
We provide a wide variety of services related to analysis of economic damages. These include:
- Personal injury
- Wrongful discharge or discrimination
- Wrongful death
- Projecting costs for life care plans
Our services can provide many benefits. With our economic damage analysis and testimony, you can:
- Enhance your case before a jury. Expert testimony is more credible than mere argument alone.
- Increase the odds of a favorable settlement. Opposing counsel will take your attorney’s position more seriously.
Not having proper expert analysis and testimony may be very damaging to the outcome of your case. Courts have stated that claims for personal damages must be supported by qualified experts or risk not being awarded damages.
- One such example is Todd v. Delta Queen Steamboat Company,
2007-1518 (La.App 4 Cir. 06/17/09); 2009 La. App. LEXIS 1280 (La. App. 2009).
- In a rehearing, the Court said: “The district court set forth the various reasons why it did not award Mr. Todd damages for future earnings and/or loss of future earning capacity; 1) he did not present an economist in support of his claim; 2) he failed to present adequate evidence to support such an award; and 3) his extrapolation of future wage loss was inaccurate as it failed to take into account tax consequences and use of a discount rate. We do not find that the district court abused its vast discretion in not awarding Mr. Todd damages.”
Analysis by Rogers Economics of damages provides professional coverage of issues:
- Develop alternative economic scenarios to assist the judge or jury (or in mediation) determine damages from a reasonable range of possible damages.
- Assist in ensuring that analysis of damages match case facts.
- Keep analysis updated with latest applicable economic assumptions such as for inflation and income growth.
- Use methodologies that are consistent with Federal Rules of Evidence, Daubert standards, and generally accepted practices by economists.
- Review case facts to help insure that all damages issues are taken into account.
- Work as needed with medical professionals to develop measures of degree of damages and future needs such as life care plans and forecast costs.
- Rogers’ analysis is customized for each case and is more compelling than automated reports from which you have little idea of how calculations are made.
Life Care Plan Projections
When life care plans are prepared for presentation in court, a key issue is to ensure that the projections meet standards for acceptance as expert testimony (such as the Daubert or Frye standards). Generally, a qualified expert is needed to get life care cost projected admitted in court. Key issues addressed by Rogers Economics, Inc. are:
- Matching life care cost components with the appropriate inflation indexes for medical and non-medical items.
- Applying a discount rate to each inflation-based projection item cost.
- To ensure that opposing counsel cannot successfully challenge entry into evidence of an expert’s life care plan projection, is the LCP projection based on both inflation indexed costs and a discount rate in order to reach an appropriate discounted value? Such would be generally accepted procedure by the relevant scientific community in contrast to a short-cut approach that is open to challenge.
- Determining an appropriate adjustment factor for income taxes paid to determine component costs on a before-tax basis (otherwise, invested amounts fall short of meeting the needs of the life care plan).
- Choosing an interest rate that appropriately is based on investments with essentially no credit risk.
- Applying an appropriate discount rate and calculating the present value of total costs of the plan.
Rogers has years of experience with related economic data, including price indexes, employment costs, wage data, and life expectancy data. He is experienced with providing the foundations of his analysis and while at the same time making reports understandable to judge or jury.
Rogers Economics, Inc. can help ensure you that your life care plan cost projections meet the requirements for acceptance in court.