Personal Injury Firms Weather The New Normal
February 4, 2021
How Personal Injury Firms are Pivoting to Weather the New Normal
Firms Must Run More Like Businesses in Order to Survive
Fast-growing personal injury firms face unique challenges during the COVID pandemic. Subsequently, a high priority is to increase staﬀ eﬃciency and reduce costs while continuing to send more demands to keep the pipeline ﬁlled. The ﬁrms that will survive and thrive over the next several years are those who can pivot. The firms must learn to run their practices like businesses.
Case volumes are currently robust for personal injury ﬁrms. Market trends suggest that inventory will go down over the next six to nine months. As a result, firms need to adjust their internal processes and staﬃng levels in order to survive the new normal.
The recent mass migration to remote work is a good reminder for law ﬁrms to automate as many business processes. Moreover, the automation of record retrieval will enable ﬁrms to increase staﬀ eﬃciency, send more demands, and increase proﬁts.
Benefits of Specialized Automated Record Solutions
Our specialized plaintiﬀ records group provides automated solutions that allow you to oﬄoad the task of records collection. By offloading records collection, you will free up staﬀ time and save a significant amount of money. The beneﬁts from record retrieval automation include:
- Recoup more of your internal costs. The entire case expense can be recouped if the retrieval of the records is outsourced. Ultimately, making it free to outsource records.
- Improve the cash flow. We pay your custodian fees upfront which can provide you with improved cash flow and staff efficiency. Your staff no longer must process, sign, mail, or track manual checks. The backlog of checks can happen easily which causes delays.
- Save 25 – 40% of your case managers’ time. Creating an automated and consistent process for the repetitive yet daunting task of obtaining records and tracking related expenses enables case managers to focus on increasing case value and customer service.
- Receive your records faster. Firms that process records in-house, typically average 58 days. At ARC, our national average turnaround time is just 19 days.
- Reduce labor on bookkeeping/accounting time. The client’s record-related expenses are always paid, current, accurate, and tied back to the correct case....all without your accounting team entering those clerical details.
ConclusionIn conclusion, we must continue to find ways through the obstacles created by the COVID pandemic. By we must also adjust our tactics on records collection. Our specialized plaintiff records group provides personal injury firms the perfect solution. Our process will increase staﬀ eﬃciency, send more demands, and ultimately increase proﬁts. In addition, we are also fully integrated with all major case management platforms to create a smoother and faster process. We can help you transition from one platform to another and evaluate options if you are considering a case management software.
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