1 / 25

Law Practice Management Case Study

Law Practice Management Case Study. Adam Maingot Emily Pabalan Mason Pokorny Amy Recla. Areas of Focus. Document management Time / Billing / Accounting Managing the Legal Calendar Website recommendations. Document Management. Document Management: Worldox ®. What it is:

duena
Download Presentation

Law Practice Management Case Study

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Law Practice Management Case Study Adam Maingot Emily Pabalan Mason Pokorny Amy Recla

  2. Areas of Focus • Document management • Time / Billing / Accounting • Managing the Legal Calendar • Website recommendations

  3. Document Management

  4. Document Management:Worldox® What it is: A document management system that organizes documents and puts them in their correct file (client, case) Combines all docs into main office computer in a manageable, accessible format after scanning

  5. Worldox® Benefits • Organizes: All docs (incoming and outgoing) are entered into computer via scanning and linked to client’s case (links to Amicus Attorney®, etc) • Cleans up office space: allows scanned docs to be stored elsewhere, out of view • Saves time: access any file regarding any client or issue by simply clicking through files—no more sifting through piles of paper • Affordable: less than $400 per user for the license and $84/month for maintenance

  6. Worldox® Versions • Mobile access is available for higher fee, allowing users to access docs from any mobile device • For less fee, can consider the CompleteCloud version: no software to install, no upgrades to worry about, and at lower cost (about $150 per user per month) • All versions save attorney time and improve efficiency

  7. Tracking Time and Billing Clients

  8. Billing/Accounting – 3 dimensions of lost revenue Inefficiency = lost hours , lost $$$ Inaccurate recognition of time = lost hours , lost $$$ Lack of business intelligence = inappropriate resource allocation, lost $$$

  9. Billing/Accounting - Current State • Tort Cases are billed on a contingency fee basis • Non-Tort Cases are billed on a per hour basis • Time is recorded on paper time sheets • Time sheets are routed to paralegals

  10. Billing/Accounting: (D1) Inefficiency Attorneys must take time out to: • Note Time • Reconcile / tabulate daily/weekly totals Billable time is lost on accounting function Paralegals must take time out to: • Reconcile / tabulate daily/weekly totals • Entering the time into the paycheck system. This function could be eliminated entirely

  11. Billing/Accounting: (D2) Inaccuracy Hours are lost when they are not recorded in real time. • You forget • You under-represent your time because “it took longer than expected” • You went to school for law… not calculus = “I don’t count so good” – aka careless math errors

  12. Billing/Accounting: (D3) Tracking Time wasted on unprofitable ventures is revenue lost • Without an accounting/billing system, it is hard to track the profitability on the “contingency fee” stuff • What are your days in AR? Which clients pay? Which clients pay A LOT? Your billing and Accounting System should tell you where your future efforts should be directed.

  13. Billing/Accounting Future State • Purchase law specific Billing and Accounting software PC Law - 5 User Firm – 2,879.00 Tabs3 – 5 User Firm – 660.00 (time) This cost is returned after properly accounting for just 20 hours (hourly rate 150.00 * 20 hrs = 3,000)

  14. Billing/Accounting Future State Immediate Benefits (from Start Up, Reboot, Reload) • Better Time Management • Efficient Hourly Billing • Discovering your true costs

  15. Billing/Accounting – How to: • Provide training on how to use the software • Create Software Specific Policy / Procedures to ensure everyone understands best practices • Open up PC Law Matter window and track time as it happens • Review / Reconciled total hours at the end of the billing cycle • Record ALL hours

  16. Billing/Accounting – How to: • Schedule client bills to drop at specified due dates. • Set the weekly drop date to a finite day of the week • Tie compensation to billing metrics • Pay bonuses on billing accuracy

  17. Billing/Accounting Future State And most importantly: Sit back and enjoy increased Bottom Line Profitability

  18. Managing the Legal Calendar

  19. Managing Your Calendar • Case Management Software • Manage your calendar as it relates to others in your firm • Variations of people and resources • Day, week, month, etc. • Easily changeable, easy to read and easy to find times of availability (yourself and others)

  20. Recommendation • Amicus Attorney Small Firm Edition • 5 users: $2,095 for licenses + $1000 for maintenance = $3,095 • Multiple Functions • Works w/ WorldDox • Customized to your needs

  21. Considerations • Questions to answer beforehand • Information you will need to gather • Installation • Training • Maintenance

  22. Maximizing your Website

  23. Website Recommendations • Include photos and bios of all attorneys • Make the site interactive • List all areas of law practiced • Be a source of the latest information in the field • Bright colors • User friendly

  24. Marketing Ideas • Designate a “face of the firm” • Join Chamber of Commerce • Join Rotary, etc. • Attend charity events • Try Pay-per Click Ads • Keep in contact with prior clients and potential clients

  25. Thank you!

More Related