Unless you are a contingency or personal injury practice, every law firm has to bill its clients. Most clients bill their clients hourly and bill once per month, and the process is time consuming. However, all law firms should have the best practice management system in their corner, and what makes your life easier as a lawyer makes the billing department’s life easier.
B2 Management & Consulting has been handling the billing for law firms for over 13 years. We process over 2,000 invoices per month, and the count is growing. Part of the growth is realizing that outsourcing your billing department isn’t just for small firms any longer. B2 started working with new mid-size clients last year. We can do specific clients – for example, LEDES clients. LEDES clients are the law firm clients, mostly institutional, requiring task and activity codes to be assigned to each time entry. In addition to assigning the correct task and activity codes, many clients have strict guidelines on what can and cannot be charged to them. For example, most of the clients have specifically excluded internal office conferences. The clients also require budgets to be uploaded and approved on a quarterly basis. Once all time entries have been reviewed and corrected, the billing department must upload the invoice to the third-party billing platform. The platforms will differ on how the information is put in their system, but most of them will kick-out time entries that do not comply with their billing requirements. When an item is kicked-out, it could be the single time entry or the whole invoice. If the entire invoice is rejected, then someone must make sure that the rejections are addressed and resubmitted. This is probably where most lawyers get frustrated with the systems – if your billing department doesn’t stay on it, your invoice, your time, perhaps your compensation will be impacted by the delayed billing.
The facts are that your billing department may be really good at processing your bills, but they do not have the time to monitor your third-party billing clients/LEDES clients. B2 can help your billing department. We have dedicated personnel that have experience in a multitude of platforms: TyMetrix 360, Legal eXchange, CounselLink, Collaborati, LSS, Datalytics, Legal Tracker, CSC and CounselGo.
Call B2 today to discuss how we can help.