For personal injury cases that involve medical damages, a medical cost assessment can help ensure that your client’s best interests are protected. However, there are actually two different types of medical cost assessments, and one may not suit your case as well as the other.
If you have a personal injury case with medical damages, keep reading to learn about which is better, a Life Care Plan or a Medical Cost Projection report. Each has its own unique advantages.
What’s the Difference Between a Medical Cost Projection and a Life Care Plan?
Both Medical Cost Projection reports and Life Care Plans are meant to serve as thorough assessments of future medical care costs associated with a personal injury. Both are carefully researched and crafted to stand up to any scrutiny.
However, they aren’t the same thing. The key difference between these two types of reports is their length: Medical Cost Projections are shorter and cover less time compared to a Life Care Plan.
What’s Included in a Life Care Plan vs. a Medical Cost Projection?
Next, to understand which type of report will better serve your case, it’s worth considering the difference in what is included in these two reports. Both MCP reports and Life Care Plans include the following information:
- A thorough medical summary of the injury or injuries
- The medical diagnosis
- A list of the records reviewed to make the report
- A list of current medications
- A report of expected future care and conditions
- A thorough projection of ongoing medical care and costs
In addition to the information above, a Life Care Plan also includes the following details and resources:
- Background information on the report creator
- Information about the history and purpose of Life Care Plans
- Detailed notes from interviews with healthcare providers involved in the case
- A list of additional resources used in the creation of the report
- A summary of the report’s findings
What Are the Advantages of a Life Care Plan?
A Life Care Plan comes with certain advantages that make it a better choice for some types of cases. In particular, the longer length of Life Care Plans makes them a better option for cases involving life-changing, catastrophic injuries. Their comprehensive scope also makes them ideal in cases with major commercial interests.
Life Care Plans are generally reserved for more high-stakes cases.
What Are the Advantages of a Medical Cost Projection?
While it might sound like a Life Care Plan always holds the advantage over a Medical Cost Projection, that isn’t so. MCP reports are still the better option for some cases. That’s thanks to their own unique advantages. While Life Care Plans are longer than MCP reports, their shorter length also makes MCP reports the cheaper option.
In addition, MCP reports can always be developed into Life Care Plans as needed, so there’s no risk in starting with an MCP report if you’re not dealing with a major case.
Which Do You Need: A Medical Cost Projection or a Life Care Plan?
If you have a personal injury case that involves medical costs, you should consider hiring a Certified Life Care Planner to provide expert assistance in your case. We can help you decide which type of report is best for you and your client.
While Life Care Plans are usually only used in catastrophic injury and major commercial cases, there may be other instances in which a Life Care Plan is the right option. The best way to determine which type of report to use for your case is to get in touch with a Certified Life Care Planner.
How Can a Medical Cost Projection or Life Care Plan Support Your Case?
Now that you have a better idea of how to decide which type of report is right for your case, you can consider the specific benefits that these assessments could have for your case. Both Life Care Plans and Medical Cost Projections can provide the following advantages:
- Avoid excessive settlements
- Avoid undervalued claims
- Provide the best possible services for your client
- Ensure your client gets the compensation they deserve
- Enable informed decisions about legal costs
- Take quick action on your client’s behalf
- Make optimal legal strategies
- Ensure your client doesn’t pay more than they owe
- Defend your client’s rights
- Support your position
If you’re still not sure that a medical expenses report would be worthwhile in your case, you can talk to our Certified Life Care Planners about whether or not our services are right for you. We will not recommend our services if they are not in your or your client’s best interests.
Your Certified Life Care Planners: DM Medical Cost Consulting
If you’re a personal injury attorney, either plaintiff or defense, handling a case with medical damages, getting in touch with a Certified Life Care Planner is in your best interests. Without a medical cost expert by your side, you could wind up with an excessive settlement or an undervalued claim.
A Certified Life Care Planner has proven healthcare expertise that you can rely on to guide your case. We can conduct thorough research to ensure that all of our reports are completely accurate and able to withstand careful scrutiny. A Medical Cost Projection or Life Care Plan can be essential to achieving optimal results in your case.
Don’t put the outcome of your case at risk by going it alone. Reach out to a Certified Life Care Planner at DM Medical Cost Consulting for an accurate future care cost report.