Perspectives of An Economist on Life Care Plans Economist from Massachusetts
At trial, an economists opinion regarding the future medical and personal care costs facing an injured plaintiff relies entirely on a life care plan.
To be helpful to the economist, the format of the life care plan should be as close a match as possible to the individual components of the Medical Care Price Index (MCPI). Such categories of care might include Physician Services, Other Professional Services, Prescription Medications, Non- Prescription Medications, Medical Tests, Equipment and Supplies, Non-Medical Goods and Services, Nursing Care, and Facility Care.
For each category of care, the economist needs to know the base year...