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| Projecting Medical Costs: The Core Model and Alternative Measures(160225N) |
Course CPE: 1 hour
Field(s) of Study: Accounting–1 hr
Program Level: Advanced
Prerequisites: Good knowledge of topic and experience in the field. Advanced level programs are often appropriate for seasoned professionals within organizations; however, they may also be beneficial for other professionals with specialized knowledge in a subject area.
Advanced Preparation: None
Delivery Method: Self-Study
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Item
Number: 16PFF0225
Shipping Weight: 0lbs. 0oz. |
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$99.00 |
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Recording Date: February 25, 2016
Presenter: John Gardner
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.
After completing this course, you will be able to:
- Identify alternatives to the CPI to more accurately calculate projected medical life care costs in litigation cases
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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