Requested for serious injuries and catastrophic claims, Lifetime Cost Projections provide a comprehensive evaluation of current and future treatment needs and expected medical costs associated with a claimant’s treatment plan.
Medlogix’s Medical Management professionals perform an extensive file review including medical history, to deliver a detailed Cost Projection Analysis that adjusters use as a tool to establish proper file reserves. Medlogix’s Lifetime Cost Projection Services are available for Workers’ Compensation, Group Health and Auto lines of business.
Medlogix's Medical Management professionals conduct a detailed analysis to produce the cost projection. The process involves:
- Thorough case assessment: A comprehensive review of the claimant's file is performed.
- Medical records review: An in-depth analysis of the claimant's medical history is conducted.
- Claimant contact: The professionals contact the injured party, their caregivers, and any relevant product suppliers.
- Future needs evaluation: A projection is made for future treatment needs and associated costs.
- Life expectancy projection: An estimate of the claimant's life expectancy is included to inform the long-term cost forecast.
- Detailed report: A comprehensive report is generated and submitted to the adjuster.
Insurers and adjusters use the detailed Cost Projection Analysis to:
- Establish proper file reserves: The projection helps in setting adequate financial reserves for the long-term costs of a claim.
- Manage claim costs: The information helps in making informed decisions about managing the overall financial and medical outcomes of the claim.
Lifetime Cost Projection Program Features:
- Thorough Case assessment
- Medical records review
- Contact with injured party, care givers and product suppliers
- Evaluation of future treatment needs and costs
- Life Expectancy Projection
- Detailed report with electronic submission