Breaking Down the Costs of Medical Care After a Car Accident

Injuries from a car accident can be devastating physically, emotionally, and financially. Each car accident has a different financial burden that depends on the amount of damage and injuries. Across the country, car accidents rack up an estimated $44 billion in medical and work loss costs each year.

The average claim for bodily injury, as reported by Verisk Analytics, is over $15,000. That might sound like a lot of money, but when it comes to medical bills, that’s relatively low. And since the costs of medical services tend to rise over time, those costs will only get larger.

No matter how low the bill may be, that doesn’t make it easier to come up with thousands of dollars for medical bills from an injury that wasn’t your fault. At Preferred Capital Funding, we can provide you with pre-settlement funding for those costs to help you stay afloat before your case settles.

What Medical Costs Will I Face After a Car Accident?

Every car accident is different. While a mild injury from a collision might not require all the services and costs that a severe injury might, it’s important to know all the potential medical costs that you could incur after a car accident. Here are the most common costs of medical care after a car accident:

• Ambulance and emergency services – A ride in an ambulance can cost around $200 or over $2,000, depending on the services rendered, how far your ride was to the hospital, and what your insurance covers.
• Emergency room costs – On average, a visit to the emergency room costs nearly $1,500.
• Testing – While you’re in the emergency room, you could need to get imaging tests, like X-rays or CT scans. X-rays are on the lower end of costs, and on average are around $140. CT scans can be more expensive, though, ranging anywhere between $400 and $3,000, depending on where you are in the country. Other tests, like bloodwork, could end up costing you even more.
• Surgery – The cost of surgery varies by what you need, how long it will take, and add-on costs for hospital stays if you need to recover in-hospital. No matter what, surgeries will be thousands of dollars, some even costing six figures.
• Medication – After a car accident, you’re likely to receive pain medication or muscle relaxants to help with the pain. You might even be prescribed antidepressants to help with the emotional trauma. All together, these could cost $500 or more a month, depending on your medication and insurance coverage.
• Specialist visits – If your general doctor cannot fully diagnose or heal your injuries, you might have to see a specialist. A comprehensive visit with a doctor can cost upwards of $250 or more, depending on how long the visit takes and any other tests that are done.
• Follow-up appointments – Similar to the specialist visits, follow-up visits with your general practitioner add to costs as well. Depending on what the doctor does and how long the visit is, it could cost less than or the same as a specialist visit.

On top of all these costs, you might also have transportation costs to all these visits. The price of gas and transportation aren’t exactly medical costs, but they can be included in your claim for costs to get to and from necessary appointments after your accident.

Your insurance might cover your medical costs, or it might only cover parts of them. It’s important to remember the above information is for average costs, which means that some of these services can cost less, but they can also cost much more. Medical bills can be debilitating, which is why pre-settlement funding could be your best option to stay financially stable in these difficult times.

Do My Medical Care Costs Qualify for Lawsuit Funding?

After you’ve learned the process of filing a car accident lawsuit, and how long it takes to settle a car accident claim, you might be wondering if you qualify for pre-settlement funding for your car accident claim. Depending on fault, the type of accident, and your injuries, you might qualify for lawsuit funding through Preferred Capital Funding.

You probably still have a lot of questions about funding because accident claims can be complicated, so don’t hesitate to reach out to your lawyer and us with your questions. Financial relief for steep medical costs after an accident would make your legal process less stressful. Apply for funding today and you could have what you need in as little as 24 hours.