Coverage of future needs
It is important that when an amount of money is awarded that this covers the future cost of treatment, necessary devices, hospitalizations, surgeries, doctors' visits, equipment, consumables, medications, transportation, adjustments and accessories. Both the injured person's and the payer's interests must be protected.
Medical inflation changes the projection
Inflation rates of hospital care, physician's services, medications, nursing care, durable medical equipment have historically been different than the generally reviewed inflation rate (CPI-U). It is therefore reasonable to use these rates to project the future costs of these items before reducing the total award to Net Present Value.
- Itemized costs with realistic escalation factors.
- Transparent discounting to Net Present Value.
- Documentation aligned with clinical inputs.