An essential part of law practice management for a personal injury firm is understanding various ways to contain case costs and overhead. In this program, Elliot Stone, a former medical malpractice attorney who now assists law firms with obtaining medical experts and case management tools, will cover the basics of Life Care Plans on a lien, outsourcing medical record services, and how to use these records to obtain the best outcome for the client.
A Life Care Plan (LCP) is an organized, concise plan for current and future lifetime needs with associated costs for individuals who have experienced serious injury or have chronic health care needs. It can be a powerful weapon in the attorney’s arsenal to maximize settlements in personal injury cases. Historically, LCPs have been utilized solely on catastrophic seven and eight figure personal injury cases (i.e. Traumatic Brain Injury, amputees, and brain damaged infants) due to cost - fees for LCP preparation necessitate a significant cash outlay for contingency lawyers. Therefore, LCPs have been used sparingly and generally later in the litigation so as to preserve working capital. The much more numerous midrange cases worth $100k+ haven’t warranted LCPs until now. With interest-free Life Care Plans available on a lien, which are payable at settlement, LCPs have become much more accessible for these cases and have the potential to increase the value of a case to the client and for the firm.
Ordering, sorting and organizing large medical charts in-house can require hundreds and hundreds of hours of non-billable staff time. A recent trend, however, is for firms to offshore medical records related work to physicians in other countries for a fraction of the cost, which can also be expensed to the file. These work products can then be utilized on direct and cross examination at deposition and trial and are admissible into evidence. Once medical reviews are obtained and organized the attorney analyses the chart to unearth information both supportive and harmful to their case. Medical malpractice is not always obvious and physicians may attempt to conceal their negligence. This course will aid attorneys in uncovering critical information to their case, including practical tips in finding and assessing “hidden jewels” in these records.
Elliot Stone, Esq., medQuest’s founder and CEO, is a former medical malpractice attorney who has provided medical experts to attorneys, since 1983. A strong believer in medical records outsourcing, Elliot founded Record Reform in 2011. The company’s Indian physicians provide chronologies, demand letters and mass tort evaluations to 2000+ US firms. Record Reform also retrieves medical records. medQuest’s newest division, MQ Financial, offers lawyer funding including Life Care Plans on a lien basis – payable at settlement. This service permits firms to utilize many more LCPs on midrange cases maximizing settlements without any cash outlay.
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