Real-time packet-based audio communications over packet-based networks frequently results in the loss of one or more packets during any given communication session. The real-time nature of such communications precludes retransmission of lost packets due to the unacceptable delays that would result. Consequently, packet loss concealment methods are employed to “hide” lost packets from the listener. Unfortunately, conventional loss concealment methods, such as packet repetition or stretch/overlap methods, do not fully exploit information available from partially received samples. Therefore, when a single frame of N coefficients is lost, 2N samples are only partially reconstructed, thereby degrading the reconstructed signal. To address this problem, an optimized packet loss concealment solution is identified for particular lost packets by solving an underdetermined system of linear equations representing partially received samples while minimizing a computed error based on a model of the signal obtained from neighboring blocks or frames received by the decoder.