The wrong way to up the fees is to think of a rate hike as a means of offsetting costs. Most firms do just that. The attorneys think "well, our salaries are increasing, so we have to recapture that." So the rates go up a percentage across the board. To get the most revenue out of a rate hike takes understanding the many and varied options available to the firm. It also takes … [Read more...] about How to raise fees in January without upsetting or alienating clients
Billing & collections
4 ways to keep your cool in the midst of chaos
By Cheryl Toth, MBA bio How well do you think you handle stress at work? I used to think I was pretty good at it, until a few years ago, when I realized I wasn't. I was working for a healthcare technology company that was young and rapidly growing. Every day, my task and responsibility list seemed to grow exponentially. At first it was exciting, but after a while I was … [Read more...] about 4 ways to keep your cool in the midst of chaos
Client survey hits hard on cost satisfaction
Some firms survey their clients in person. Some by phone. Some by mail. But a Missouri insurance defense firm wastes no time. It sends its evaluation form to the claims adjuster at the same time the last bill goes out. And it's appropriate timing, because most of the questions cover the company's satisfaction with the cost of the matter. The response rate is high, reports the … [Read more...] about Client survey hits hard on cost satisfaction
The psychology of getting clients to pay
When the collections get tough, the tough start adding a bit of psychology to the billing. It can make the difference between getting paid now or getting paid later or maybe not getting paid at all, says Merra Lee Moffitt of Capture Profits, a revenue and profit building consulting company in Reading, PA. A waning economy is no time to sit at status quo with the billing, … [Read more...] about The psychology of getting clients to pay
The art of setting fees that suit prospective clients
There's an art to presenting fees to clients. It's not just a matter of quoting an amount. It's a matter of finding out what result the client wants to see and what value the client attaches to that result. It calls for a lot of fishing tempered by a lot of tact, says Brian Kennel of Performance Management Consulting, a law firm practice management consulting group in New … [Read more...] about The art of setting fees that suit prospective clients
The ethics of refusing business and parting company with a client
Attorney-client relationships can get mighty tenuous. And either side can be at fault. Here are three issues that cause great concern: Turning down a prospect, firing a client, and getting fired by a client. They are explained by Michael Downey, a partner with Armstrong Teasdale in St. Louis whose practice focuses on professional legal, risk management, and ethics issues. … [Read more...] about The ethics of refusing business and parting company with a client
Model Tool: New matter intake form
Why you need this form: Before accepting a new matter from an existing client, you should obtain as much information about the new case as possible. This process, known as "case screening," can help you avoid many potential problems. How this form helps you: The New Matter Intake Form will not only help you quickly identify whether or not the subject matter is within your area … [Read more...] about Model Tool: New matter intake form
Model Tool: New client intake form
Why you need this form: Before accepting a client, you should obtain as much information about both the client and the subject matter as possible. This process, known as "client screening" can help you avoid many potential problems. How this form helps you: The New Client Intake Form will not only help you quickly identify whether or not the subject matter is within your area … [Read more...] about Model Tool: New client intake form
7 Quick Tips from the 2014 ALA Conference
By Catherine Jones bio More than 1100 law office managers from 14 countries attended the Association of Legal Administrators' annual conference in Toronto, Ontario this year. The four-day conference spanned two floors of the conference centre, giving everyone plenty of room to comfortably explore. And there was a lot to explore. The ALA's "Legal … [Read more...] about 7 Quick Tips from the 2014 ALA Conference
Model Policy: Client billing
Why you need this policy: Attorneys have every right—and need—to be paid. But getting clients to pay their bills on time is a major challenge that forces you to confront a bewildering array of fee arrangements, billing of non-fee expenses, and ethical constraints stemming from the attorney-client relationship. How this policy helps you: The centerpiece of juggling all of these … [Read more...] about Model Policy: Client billing