What kind of factors may affect the value of a claim?

Determining the value of a personal injury claim is a multifaceted process that involves elements of science, artistry, and persuasive skills. To maximize the settlement value of a claim, all three aspects must be fully developed and harmonized. 

At the heart of evaluating a personal injury claim lies the scientific examination of the injuries and economic losses sustained by the injured party, collectively referred to as damages. This scientific aspect entails several crucial steps:

1. Thorough Medical Record Analysis: To begin, a meticulous examination of the injured person’s medical records and medical history is essential. These documents hold vital information about the nature and extent of the injuries, medical treatments received, and the overall health background of the injured party.

2. Medical Research: Next, extensive medical research is conducted to understand the diagnosed injuries, the treatments administered, and their anticipated outcomes. At the Law Offices of Edward A. Smith, we emphasize staying updated with the latest research articles accessible through reputable online medical databases. This commitment allows us to gain a comprehensive understanding of the medical aspects of the case.

3. Physician Consultation and Reports: In cases where necessary, interviews with treating physicians or requests for formal medical reports are made. While these services can incur significant costs, they are invaluable in bolstering the claim’s value. It’s worth noting that personal injury attorneys often advance these costs on behalf of their clients, as they can substantially enhance the claim’s potential value and likelihood of a successful settlement.

Once the scientific groundwork is laid, the artful evaluation of the claim comes into play. This phase involves scrutinizing every case detail to maximize the strengths and minimize the weaknesses. Experienced personal injury attorneys excel in this art by:

1. Maximizing Favorable Facts: They identify and leverage facts that enhance the claim’s value. By skillfully emphasizing key points, attorneys can significantly bolster the case’s worth.

2. Mitigating Unfavorable Facts: On the flip side, they work to minimize the impact of any facts that might detract from the claim’s value. Attorneys can artfully address and neutralize potential weaknesses in the case.

With both the scientific and artistic aspects well-developed, the final and perhaps most critical component is the art of persuasion. Successfully presenting the claim’s merits to insurance claims adjusters, insurance defense attorneys, arbitrators, or even a jury at trial is where the real challenge lies. Accomplished personal injury attorneys:

1. Craft Persuasive Arguments: They weave the scientific and artful aspects into a compelling narrative. This narrative is designed to persuade the opposing party or decision-maker of the validity and significance of the claim.

2. Leverage Professional Relationships: Attorneys with extensive experience often have established professional relationships with insurance adjusters and defense attorneys. These relationships can help facilitate smoother negotiations and enhance the likelihood of a favorable settlement for the client.

Determining the value of a personal injury claim is a complex undertaking that combines science, artistry, and persuasive skills. It demands a deep understanding of medical nuances, a keen eye for case details, and the ability to construct compelling arguments. A seasoned personal injury attorney possesses the expertise to navigate this intricate process effectively, ensuring that their clients receive the compensation they rightfully deserve.