Insurance reforms may raise need for medical accounting

Published on February 17, 2012 by Crawfords Accounting

More in-depth medical accounting could become a necessity for expert witnesses who provide evidence in insurance cases.

At a recent Downing Street meeting, the prime minister spoke with business and consumer groups, and with insurance industry representatives, about ways to tackle the UK’s compensation culture.

Their suggestions included tackling the types of injury that can lead to a claim – both by setting out minimum requirements for compensation to be awarded, and by tightening the process that leads to an individual receiving a payout.

For the former part, possibilities include enforcing a minimum speed requirement on vehicle crashes above which whiplash claims may be considered.

For the latter part, however, cases that make it to court could be subject to tighter investigation requirements – making medical expert witnesses a more important part of the process.

Our medical accounting specialists can help you to factor any such earnings into your regular income in the appropriate way.

If you are considering acting as an expert witness for the first time, we can also help you to understand how the additional earnings affect the medical accounting process, and determine what your overall increase in income is likely to be.

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