Billing Practices Reform

Choose and purchase a billing software package

Comparison chart:http://www.americanbar.org/content/dam/aba/migrated/tech/ltrc/charts/pmtbchart.authcheckdam.pdf

Software

I chose TimeSolv Legal◦Flexible options for accurate and

easy billing◦Compatible with other software ◦Comprehensive accounting and

management◦Mobile device compatible (iPhone,

Blackberry, Windows Mobile, Palm)◦$29 per user per month with annual

plan (includes set-up and training)

Training is key◦Older Attorneys need to become

comfortable with the system◦Attorneys will be encouraged to use

the timing features to capture billable time as they work

◦Automatically captures time spent on phone calls and email

More billed hours from accurate time keeping

Frees up legal assistant to do more productive tasks

Promotes better communication with clients Better management of client trust accounts

and more immediate cash flow

Results

Create a custom invoice that is:◦ Professional◦ Attractive◦ Accurate◦ Detailed

Invoices and Communication

Invoices will be sent out every two weeks◦Keeps clients engaged◦Bills are smaller because of the

shorter time period◦We realize sooner if a client will not

pay bills and stop doing work for that client

Happier clients Higher collection rate on billed hours Better cash flow Enhanced professional image

Result

Move towards flat rates wherever it’s possible

◦ Simpler legal issues get a flat rate Consumer clients Some business clients, depending on the job

◦ Avoid contingency fees when possible

Fee Structure