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Considerable economic costs of spinal cord injuries

| Mar 3, 2020 | Firm News |

The impacts of a spinal cord injury can reach into every aspect of the victim’s life. One of the most significant is often the economic costs that they have to deal with. There appears to be a direct correlation between the severity of the injury and the costs, so more serious injuries are costlier than minor injuries.

Economic damages come from many factors. The person has to cover the medical costs associated with the injury, but this comes at a time when they may be unable to work because of the injury. This can lead them to struggle financially because most people aren’t able to cover all these costs when they suddenly appear.

Some victims might opt to pursue a claim for compensation to help cope with the economic costs of the injury. The cause of the damage to the spinal cord determines what’s possible. If negligence led to the following causing of spinal cord injuries, the victim might name the negligent party as a defendant in the lawsuit:

  • Motor vehicle crashes, which account for 38% of spinal cord injuries
  • Falls, which account for 30% of these injuries
  • Acts of violence, which account for 14% of these injuries
  • Sports-related injuries, which account for 9% of spinal cord injuries
  • Medical or surgical issues, which account for 5% of them

Around half of the victims of spinal cord injuries cover their medical care costs through private insurance. This means they’re responsible for co-pays, deductibles and other expenses. They also have to take care of any expenses that aren’t covered. Around 28% of victims have Medicaid, and the remainder have insurance through the Veterans Health Administration or Medicare.

When you consider that the average cost of a spinal cord injury only through the initial medical care and recovery phase is over $142,000, you can understand why many victims of negligence-related incidents opt to purse a claim for compensation. A successful claim reduces the financial blow to the victim.