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Projecting Medical Costs: The Core Model and Alternative Measures

 Projecting Medical Costs: The Core Model and Alternative Measures
CPE Credit

Program Type: Recorded Webinar (Audio, PPT)
Program Level: Advanced
Prerequisites: Good knowledge of topic and experience in the field.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: One (1) Hour
Fields of Study: Accounting
Item Number: 16PFF0225
Shipping Weight: 0lbs. 0oz.
Price: $80.00
Program Description

Consulting accountants are often engaged as experts in personal injury litigation where they are required to estimate the future medical costs of disabled individuals within their lost earnings and benefits reports and/or life care plan valuations. In doing so, these experts are likely to rely on medical historical cost growth calculations included in the Consumer Price Index (CPI) by the Bureau of Labor Statistics (BLS). Assuming that consulting accountants are interested in determining a growth rate that represents the private sector market rate of growth in medical costs, we find that CPI medical cost growth estimates are not a reliable source for this information. Our results show that private sector medical costs have historically increased by more than reported in the BLS data and we propose alternative sources of historical medical cost growth information.

Learning Objectives

After completing this webinar, attendees will be able to:

- Utilize alternatives to the CPI to more accurately calculate projected medical life care costs in litigation cases

Who Should Attend

Forensic accountants, CPAs, and attorneys


John C. Gardner, Ph.D.
Dr. John C. Gardner, Sr. served as Dean of the College of Business Administration from Fall 2004-Spring 2007. He is the KPMG Professor of Accounting. While Dean Dr. Gardner oversaw the final construction of Kirschman Hall, the home of the College of Business Administration, orchestrated a 2+2 program for business majors at Delgado Community College and developed a new strategic plan for the college. In addition the College received final approval to establish an EMBA program in Puerto Rico and received funding for one Chaired Professorship, three Professorships and commitments for three additional Professorships. Dr. Gardner relocated from Michigan where he served as the Dean of the School of Business Administration at Oakland University for eight years. During his tenure at Oakland, he was instrumental in establishing programmatic partnerships with the corporate community including the Applied Technology in Business Program, in which corporations partner with the School by providing scholarships and internships for undergraduate students in the program. He was also responsible for establishing a post-master's certificate program at DaimlerChrysler's Technology Center. Under his guidance, the School started an Executive MBA program in health care management in Fall 2000, and a Masters in the Management of Information Technology in Fall 2001. Prior to joining Oakland on August 1, 1996, Dr. Gardner was Associate Dean of the School of Management at Binghamton University, New York, and held the Price Waterhouse Chaired Professorship in Accounting at the University. While at Binghamton University, he also served as Director of Accounting and Undergraduate Programs. Several of his administrative accomplishments at Binghamton include starting a School of Management Honors Program, establishing the first Accounting Ethics Center in the United States, and developing a Corporate Associates Program between the School of Management and local corporations. Dr. Gardner holds a bachelor's degree from SUNY at Albany and an MBA and PhD from Michigan State University. He has published in the leading accounting, finance and management science journals and has published a book on accounting research.

Dr. Gardner has taught in China, Hungary and Romania and has consulted for a number of U.S. companies including Citibank, Ernst and Young, General Electric and Merchants Mutual Insurance Corporation. Dr. Gardner is a veteran of the United States Navy Submarine Service.