Navigating a medical malpractice claim in New Mexico involves several critical considerations, and one of the most significant factors is accurately calculating lost wages.
The general formula multiplies your missed time from work with your regular salary to reach a value. However, a lost wages claim can be challenging to calculate if you work unusual hours, are self-employed, or work on a contract basis.
Suing for lost wages requires supporting documentation and other evidence. That is why we recommend hiring an experienced New Mexico medical malpractice lawyer to assist you.
It’s not uncommon to need an expert who can accurately calculate your damages and help prove what your lost wages claim is worth. To get started, contact us online or call 575-404-7412.
Understanding Lost Wages in New Mexico Medical Malpractice Cases
Lost wages represent the income you miss out on due to your inability to work because of injuries or conditions caused by medical negligence.
They are a fundamental part of medical negligence payouts and can include lost earning capacity if the malpractice impacts your ability to earn in the long term. If you cannot return to work, you might qualify for permanent disability compensation.
How to Calculate Lost Wages
Calculating lost wages can be complex, but here are some general steps. Start by documenting your regular earnings.
You’ll need pay stubs, tax returns, or other proof of income. Include all sources of income, including wages, bonuses, commissions, and any income from self-employment.
Next, determine the total time you’ve missed from work due to the injury. Include days spent in the hospital, recovery at home, and time off for medical appointments, physical therapy, etc.
Then, multiply your daily wage by the number of days you missed work. If you’re salaried, divide your annual salary by the number of workdays in a year to get your daily wage.
Accounting for Future Lost Earnings
If the medical malpractice incident has caused long-term damage that impairs your ability to earn in the future, you may also sue for lost earning capacity.
Calculating future lost wages involves considering other factors such as your career growth potential, your life expectancy, and the severity of your injuries. An expert witness, such as an economist or a vocational expert, typically provides this testimony.
Suing for Lost Wages: How a New Mexico Medical Malpractice Lawyer Can Help
While these steps provide a basic understanding of calculating a lost wages claim, navigating the legal system and dealing with insurance companies can be daunting and complex.
Medical malpractice laws in New Mexico require you to submit your case to the state’s medical review commission before pursuing legal action.
An experienced attorney can ensure you correctly calculate lost wages and include a demand for past and future earnings. At Poulos & Coates, our primary focus is on medical malpractice claims in New Mexico.
Our experienced team understands the nuances of lost wages calculations and the impact of these figures on your case’s total value.
We’ll work diligently to secure fair medical negligence payouts for lost wages, helping you get the financial support needed for recovery.
Get in Contact with a New Mexico Medical Malpractice Lawyer at Poulos & Coates Today
When you need a lawyer to help you with a New Mexico medical malpractice claim, Poulos & Coates stands ready. We have a medical doctor and nurse on staff who will assist with calculating the value of your overall claim.
Their firsthand knowledge and experience give us an edge in determining the overall value of your claim. Hiring the right legal team is crucial and can mean the difference during challenging settlement negotiations.
Don’t face the challenge of calculating lost wages alone. Let the seasoned legal team at Poulos & Coates guide you through the process and fight for your rightful compensation.
Contact us online or call 575-404-7412 to schedule a consultation.