Full disclosure: It’s a lot more art than science. That’s exactly why you need an experienced trial lawyer.
At the most basic level, valuing a case comes down to a seemingly simple two-part equation. In one form or another, both sides make the same analysis. What is the likelihood of the plaintiff winning and, if the plaintiff wins, what is the likely range of damages which a jury or judge might award. Note that we are talking about a range of damages. For tort cases, there is no objective formula for calculating damages.
This sounds easy enough, but it’s not.
Calculating the chance of winning is the simpler part. We know what we are required to prove. We assemble the necessary evidence and expert witnesses. Then we turn to the issue of how the case might be defended. In fact, many cases are difficult to defend. The facts are hard to get around.
Still, a competent defense lawyer will almost always craft a defense. That’s their job. They will find experts who will defend care that is objectively abysmal. An expert may be produced who will declare the patient would have had the same injury or death regardless. That evidence creates risks for the plaintiff.
Evaluating that risk is where a lawyer’s experience and judgment comes into play. If you’ve handled a lot of cases, including trials, you develop a keen sense for what is likely to have traction and what is unlikely to have traction. If your lawyer has spent time on the defense side, he or she has an even better sense of what works and what doesn’t.
Experienced lawyers might come to differing conclusions, although they are frequently not so different as you might suspect.
Let’s further complicate things. When offering up odds of success, everyone must recognize that the margin of error is big, at least 10%.
The second part of the equation, damages, is where things get stickier.
First, you should look at the quality of the damages. Analyze the economic damages (the “hard” numbers) and the non-economic damages (the “soft” numbers). The potential interplay between these two elements is almost infinite.
Big economic losses can support a big award, but frequently it’s the non-economic losses which have the more significant impact.
Predicting how a jury will determine its verdict is a challenge. One can use focus groups, but there are plenty of times where focus groups get it wrong. The reason for that is any group gathered to look at a case, whether it has been hired to help the lawyers or an actual jury, is a unique mix of personalities. The interactions are always going to be highly variable.
Knowing the venue matters, but again there is huge variability.
The bottom line is that this is not simple stuff. Different lawyers can look at the same set of facts and reach different conclusions. That’s why experience matters so much. It provides the needed judgment.
If a healthcare provider injured you or a loved one, you may be able to recover compensation. Contact our office and schedule a free consultation.
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