An integrated economic damages report for an injured person: lost earnings and fringe benefits, lost household services, and the present value of future medical and care costs supplied by treating providers or a life care plan. One report carries every economic component to a single present value with consistent growth, discount, and life expectancy assumptions, so counsel can present the damages as a whole and the jury sees one set of numbers.
KW Economics prepares personal injury economic damages analysis for plaintiff and defense counsel nationwide; the method is the same whichever side retains the economist.
Personal injury economic damages analysis at KW Economics is directed by Christopher Skerritt, M.Ed., MBA, Chief of Economic Services, who is available to testify to it.
How personal injury economic damages analysis applies to the specific demands of each case type: methodology, deliverables, and what counsel should expect.
Every economic component the record supports in one document: past and future lost earnings, lost fringe benefits, the replacement cost of household services, and the present value of future medical and care costs from a life care plan or treating recommendations. Each component is built from its own records and carried to a single present value with the same growth, discount, and life expectancy assumptions, so the pieces reconcile and the fact finder sees one set of numbers.
Because the components share assumptions. A worklife expectancy, a life expectancy, and a discount rate applied inconsistently across separate reports invite cross-examination on the inconsistency rather than on the merits. One report states each assumption once, applies it everywhere it belongs, and lets counsel present the damages as a whole or by component.
The treating providers or a life care plan prepared by another professional. The economist does not decide what care is needed; the economist takes the items, frequencies, durations, and unit costs from that document, applies category-specific medical cost growth, and discounts the stream to present value over the applicable life expectancy.
Yes, and it usually should. Where the return-to-work date, the post-injury capacity, or the level of care is disputed, the report shows the total under each scenario so the number tracks whatever the fact finder concludes, and counsel can evaluate settlement against the full range.
No state licenses forensic economists. Qualification to testify on personal injury economic damages analysis is decided case by case on education, method, and testimony history; these pages explain what each credential establishes and what it does not.
Request a consultation on Personal Injury or call (201) 343-0700. Plaintiff and defense counsel.