Cost Projections

Caregivers and insurance companies often request cost projections to identify what is needed to care for the patient now and set reserves in place to care for the patient in the future.

At Medical and Life Care Consulting, we provide two options for projecting cost, a Life Care Plan Projection or a Medical Cost Projection. When completing cost projections, our professionals accurately identify the costs of goods and services needed for the future medical care of your client and base projections on treatments to date by a review of medical records, billing history, and medication usage history.

Diagnoses that may require medical cost projections include, but are not limited to:

Traumatic brain injury
Spinal cord injuries
Amputations
Failed back syndrome
Complex regional pain syndrome
Multiple trauma
Orthopedic injuries
Neurological injuries

Life Care Plan Projection

A Life Care Plan Projection includes a chronological review and summary of all medical records from the date of injury or illness to present, itemized, and evidence-based treatment recommendations, including goods and services needed throughout the individual’s lifetime with rationale and the associated cost per recommendation.

A Life Care Plan Projection can be used for setting reserves and is designed to provide a summary of the projected treatment cost.

Medical Cost Projection

A Medical Cost Projection is a review and brief summary of the patient’s injury and treatments to date by reviewing the last two years of the medical records, pharmacy records, and payment records.

A Medical Cost Projection will identify the goods and services needed throughout the patient’s lifetime with the associated costs.

Learn more with MLCC 'INSIGHTS'

Planning for the future? Determine the type of vocational services your case needs

At Medical and Life Care Consulting, our work within medico-legal claims and life care planning often uncovers the need for additional resources such as the vocational consultant to provide an opinion on an individual's ability to work and earn money. In this issue of INSIGHT, we've partnered with CRC Services' vocational consultants, to explore the vocational rehabilitation field, the role of a vocational consultant, and examine how and when the expertise of the vocational consultant may intertwine within a case. In addition to this article, we invite you to learn more about vocational rehabilitation consulting and expert witness services in ...
READ MORE

What exactly is the practice of Nurse Life Care Planning and a Life Care Plan?

The formal practice of Nurse Life Care Planning, which is approximately twenty-years-old, is often misunderstood by industry partners including attorneys, fiduciaries, and even professionals within rehabilitation, insurance, and health care management. For individuals suffering from a catastrophic injury or illness, a life care plan informs private fiduciaries, legal professionals and case managers of the long-term resources required for the individual’s long-term care, health, and wellness. A life care plan is typically developed by a nurse life care planner whose primary role is to develop a client-specific lifetime plan of care utilizing the nursing process. The plan contains an organized, comprehensive, ...
READ MORE

Understanding and preparing an accurate Pediatric Life Care Plan

In 2018, nearly 3.8 million babies were born within the United States. Most of these infants started their lives with no issues at birth and began achieving typical developmental milestones, yet, there were those whose lives were forever impacted by a birth injury. In the United States, it is estimated that nearly 7 birth traumas occur per 1000 live births, with an incidence rate of approximately 1 in 9,714[i]. Nearly one half are potentially avoidable with proper recognition and anticipation of obstetric risk factors. [ii] Birth injuries can range from minor, temporary, and self-healing to permanent, catastrophic, and having a lasting ...
READ MORE

3 Things attorneys may not know about Medicare Set-Aside allocations

Cynthia Bourbeau, RN, CRRN, CCM, CNLCP® Founder & President – Medical and Life Care Consulting Services, Inc. The Centers for Medicare Services defines Medicare Set-Aside (MSA) allocations as financial agreements that allocate a portion of a workers’ compensation, medical malpractice or personal liability settlement to pay for future medical services related to the injury, illness or disease. These funds must be depleted before Medicare will pay for related treatment. We work with attorneys to evaluate a person’s future medical needs and recommend an amount that should be set aside for future medical care. Once the government approves this amount, the administrator of the MSA fund ...
READ MORE