Catastrophic injuries occur when an injury that someone suffered may require treatment for the foreseeable future, and impairs their ability to function the way they used to before the accident. These injuries often include spinal cord injuries, burns, paralysis, and traumatic brain injury. Unfortunately, catastrophic injuries can cause lasting financial hurdles due to long-term treatment, medications, doctor visitations, and the potential inability to earn an income.
No one should have to endure the financial burden of treatment after a catastrophic injury, which is why we want to highlight some of the potential costs you might encounter in the process of recovery and how our lawyers can potentially help.
The Financial Effects of the Injury
It is important to know how much catastrophic injuries can potentially impact your future financial standing. Here are some examples of where your money could end up going towards:
- Lost Wages – $42,000 a year (American average)
- Medical Treatments/Hospital Stays – $4,000 a day (American average)
- Medications – $7,050 a year (American average, no insurance)
- Care Assistance – $54,912 a year (Indiana average)
As you can see from the examples above, you could not only lose money from the medical fallout of a severe accident, you could also lose money due to missing work in your recovery phase.
Potential Costs Based on Specific Injury
All catastrophic injuries require extensive care, which will be incredibly expensive. You may be wondering, “How much could my injury cost in the long run?” Here is a breakdown of the potential long-term cost ranges according to what type of injury you suffered:
- Spinal Cord Injury – $1,113,990 – $4,724,181 in a lifetime (based on severity and age)
- Burns – $206,853 – $1,617,345 in a lifetime (based on the severity of burns)
- Paralysis – $142,366 (based on initial hospital stay and recovery but it can be higher based on severity)
- Traumatic Brain Injury – $33,284 – $81,153 (based on severity)
How to Mitigate the Costs of a Catastrophic Injury
While Medicare and other forms of insurance can help mitigate some of the costs of a catastrophic injury, it does not help as much as a catastrophic injury lawyer could. By hiring an attorney from McCready Law, you could effectively argue your case and receive much-needed compensation for injuries you sustained through no fault of your own.
You deserve to have the care you need for your injuries without being weighed down by the financial burdens. Consider hiring a catastrophic injury lawyer from McCready Law to potentially change your financial future.