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You can’t improve what you can’t see. When a law firm doesn’t have clear insight into where money is going, what’s been billed, or which matters are profitable, it’s hard to grow with confidence.
Law firms may split for many reasons, whether it be partner disagreements, strategic restructuring, or a shift in business direction. Whatever the cause, splitting a law firm can be chaotic.
Every minute of billable work that goes untracked is money left on the table. When attorneys forget to log their time, round down their entries, or overlook billable administrative tasks, the financial impact adds up fast. Add to that complex insurer guidelines that demand both accurate work categorization and strict
Complex billing guidelines, rejected invoices, and slow approvals turn what should be a straightforward transaction into a bureaucratic mess. Meanwhile, cash flow stalls, operations slow down, and frustration builds on both sides.
Insurer fee reductions can rapidly erode revenue and profitability, often triggered by billing discrepancies, non-compliance with guidelines, or disputes over the value of legal services provided. Fortunately, fee reductions don’t need to be an unavoidable reality. This post will explore the actionable strategies insurance defense firms can implement to reduce
When fee structures vary widely, using an LPMS (Legal Practice Management System) like CARET Legal can help create a smooth billing experience for both clients and teams.
The secret to higher profit margins? Leveraging data and automation to transform inefficiencies into opportunities. Tools like CARET Legal help firms uncover hidden revenue leaks, optimize workflows, and build a foundation for profitable growth. Here’s how.
To maintain profitability and build trust, firms need a time tracking process that aligns seamlessly with carrier expectations. This blog explores the most common problems related to time tracking and how your firm can create processes that lead to fewer rejected invoices.
Understanding the most common reasons behind rejected invoices, along with the errors which lead to them, is the first step in refining your firm’s invoicing practices for a smoother billing process
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