Methodology for calculating adverse health effects in Latvia

Abstract

Calculating the value of life and adverse health effect is necessary for developing public policyin providing compensation to families of victims of fatal accidents; it is also needed to create reasonablesafety measures for the public, and enable the functioning of life insurance and healthcare systems. Nomethods for assessing the value of life of a person have so far been developed in Latvia. The study wascarried out to determine how much an average person’s life costs in the event of an accident associatedwith the early death of a person, as well as the possible inpatient medical care for the victim in Latvia andsee the general adverse health effect calculation methods. The methods for estimating the value of life ofan average person are very different, that is why authors make a comparison of the estimated value of lifeand the cost of medical treatment.