The subject of this discussion facilitates an estimate of the monetary value potentially recoverable in workers’ compensation cases. It uses various inputs, such as medical expenses, lost wages, and impairment ratings, to project a possible final payment from the insurer. As an example, an injured worker might utilize this tool after receiving a permanent impairment rating from their physician to understand a reasonable settlement range.
Such tools offer a preliminary understanding of potential compensation, empowering injured employees with information to navigate the claims process. Historically, injured workers relied solely on insurance adjusters or legal counsel for valuation, often leading to information asymmetry. These resources level the playing field to some degree, providing transparency and potentially leading to fairer negotiations.
