Not too long ago, two attorneys walked up to me and said, “What is a medical cost projection and why do I need one?” I was thrilled that they asked the question. It happens more times than I can express, that attorneys have no idea what different services nurse consultants provide, or the value we provide to each case. And believe it or not, they also will not ask the question, “What’s in it for me?” Well, at least not out loud!
It is simple to share the value for this one . . . it is all about dollars and cents!
I have attorneys who utilize medical cost projections in different ways, but ultimately it is a tool. It can be used before litigation starts to determine if the case has value to move forward, or to assist with settlement negotiations. A medical cost projection assigns costs to the recommended future care for the life expectancy of the client related to the injury/injuries that occurred as a result of the accident.
Just to be clear, this is a powerful tool and has its place, but it is different from a life care plan, and as such it is priced accordingly. A medical cost projection is created utilizing the details of the accident, the notes surrounding any medical intervention by treatment teams, treatment recommendations from treating physicians, and standards of care in the industry. Dollar amounts are assigned based on geographical location, and healthcare costs from present-day numbers. Many of the attorneys I work with have said it is a wonderful way to bring value to the case in a tangible document.
Let’s keep the conversation going and continue to ask questions. I am happy to answer, “What’s in it for you?”