A Life Care Valuation Report is a detailed financial assessment that estimates the future medical and care-related costs for a person who has suffered a severe injury or disability. This report helps determine how much money the injured person will need to cover medical expenses, rehabilitation, home modifications, and other necessary care for the rest of their life.
Forensic economists and life care planners work together to calculate these costs, considering inflation, medical advancements, and life expectancy. The report is essential in personal injury and medical malpractice cases to ensure the injured party receives fair compensation for their lifelong needs.