Claims Litigation Vendor Management
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What you spend on legal costs now
What you'd spend if you had a program in place
The best way to understand the impact of a legal spend management program is to conduct a feasibility study, or spot audit, of your current program.
This test process, where an expert bill review attorney analyzes a subset of your invoices, will identify the accuracy and reasonableness of the charges based on contemporary guidelines and accepted billing standards.
This invoice review, if conducted with a handful of different law firms, will give you an idea of where you can expect to find efficiency throughout your program that will translate into savings.
In the past 5 years, we've conducted more than 150 feasibility studies for risk management and claims departments of all sizes.
That's more than 5,300 invoices with a value of in excess of $38 million dollars!
Seeing the results that can be achieved when an expert bill review attorney audits your invoice makes it very clear how much legal spend leakage you experience every single day.
You're leaving money on the table.
Unfortunately, paying more than you owe, regardless of the reason, will have negative long-term consequences for your self-insured program.
You can put together the most rock-solid business case in the world for implementing a legal spend management program, but there will always be a nay sayer who will come up with reasons why it won't work. Here are three common misunderstandings about legal spend management and how to overcome them:
Having a trained bill review expert conduct a thorough audit of your invoices will help you understand exactly where a legal spend management program would benefit your organization. It will pinpoint the factual areas of cost savings you would experience - and that's more than enough to build a business case to implement a program.