Evaluating the Economic Impacts of Personal Economic Damages
DHG's Personal Economic Damages professionals help identify and measure economic losses for individuals arising from various personal tort claims related to injury, wrongful death and employment disputes. Whether you need damage analysis for settlement negotiations or trial, we are experienced as both consultants and testifying witnesses, assisting attorneys on matters for both plaintiffs and defendants.
DHG is a team of dedicated professional consultants distinguished by our research and analytical capabilities. We bring an unbiased, thorough approach to the unique facts in each case.
Our experienced team provides the following comprehensive services supported by decades of hands-on experience:
- Past & Future Income Loss
- Loss of Fringe Benefits
- Loss of Retirement Benefits
- Present Value of Future Medical Care (Life Care Plans)
- Reasonable Damage Period
- Replacement Value of Household & Family Service
We also provide similar services for employment dispute claims, such as:
- Wrongful Termination
- Employment Discrimination
- Breach of Contract
- Wage & Hour Claims
Past & Future Income Loss
At the core of most personal damage cases is loss of income. This loss may be historical or may stem from a reduction of future earning capacity and expected earnings, or both.
We are experienced in evaluating compensation data for hourly, salaried and commission-based employees as well as compensation earned through closely held businesses and owner-operated businesses. Our analysis often incorporates vocational expert reports, government and industry statistics, economic studies, general market conditions and business operations.
Loss of Fringe Benefits
In many personal damage cases, both medical and employment related, there occurs a loss of fringe benefits (non-wage benefits) in addition to lost compensation.
We frequently value losses in employer-provided benefits such as: retirement, pension plans, health insurance, disability insurance, life insurance, paid leave (holiday/vacation pay) and supplemental pay (overtime, shift differentials).
Replacement Value of Household & Family Service
After many injuries or the loss of a family member, individuals may find that they are no longer able to perform certain aspects of their normal household duties or family responsibilities in the same capacity as they had previously.
DHG can project the future cost associated with replacing these services with outside providers through the determined damage period or full-function life expectancy. We utilize specific service replacement cost and opportunity cost methodologies to value these services and incorporate industry and demographic specific data regarding economic trends and forecasts.
Present Value of Future Medical Care (Life Care Plans)
For injuries requiring ongoing and future medical care, we frequently work with certified life care plan professionals to analyze the present financial impact of the projected future medical care.
Our analysis of life care plans typically incorporates inflation adjustments for life care plan elements (calculated through the projected medical care period or the individual’s life expectancy). The projected cost of future medical care is then discounted to a present value for settlement purposes.