Law Practice Today | October 2012 | Billing & Collections
October 2012 | Billing & Collections
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FEATURES

Collecting Your Fees with Ease

By Arthur G. Greene

Traditional collection policies may be necessary, but aren't always the most effective way to solve collection problems. A comprehensive approach—starting with client intake procedures and covering billing, communications, and dispute resolution—helps eliminate collection problems before they start.

Effective Collection Requires a Collections Policy

By Edward Poll

Lack of a written collection policy—or failure to effectively communicate and enforce such a policy if you have one—is the main reason behind low realization rates and other collection problems.  A well-crafted collection policy sets expectations for the client and the lawyer from the outset, lays the foundation for communication throughout the engagement, and mitigates the risk of fee disputes down the road.  Here are tips for creating an effective collection policy.

Systemizing Your Shop and Presenting Palatable Prices

By Sofia S. Lingos

Just like creating a fine dining experience, establishing a rewarding (and profitable) client relationship requires managing expectations from the start. From setting the table to accepting payment of the bill, integration of carefully considered systems at every stage of the client relationship is key to client satisfaction – and paying your bills.

Inspire Your Clients to Focus on the Value Rather Than the Bill

By Richard Goldstein

All too often in client relationships, lawyers are so focused on “respecting” the client’s views that they avoid  confronting the client’s fears, hesitations and rationalizations, which may lead to billing disputes down the road.  From the very beginning, it is better to create a relationship that will have clients understand and value your billings, and pay promptly.  The key is to focus on the client’s aspirations, helping them overcome their excuses and fears.

The Next Best Thing After Cutting Expenses: Collections

By John T. Podbielski, Jr.

Most law firms have already drastically cut expenses in the face of the recession, and further cuts are not only unpalatable, but unlikely to solve firm financial problems. The best solution is to maximize revenue through best practices in billing, credit and collections. Those best practices include hiring professionals who know how to succeed in collections far better than most lawyers.

The "R. O. I-rony" of Accounts Receivable

By Dave Hicks

Law firms spend considerable time and money on marketing their services (yet to be rendered), but are less likely to spend sufficient time and money on collecting for their services (already rendered). The author points out this irony, arguing that ROI is more measurable in the latter context (accounts receivable management) and at least as important as the former context (marketing of legal services).

Ruby Receptionists

MARKETING

8 Tips for Creating a Memorable Presentation

By Jim Confalone

Presentations are an inevitable part of almost every lawyer's business development efforts. Unfortunately, all too often presentations are dull and lifeless—something viewed with dread by presenter and audience alike.

TECHNOLOGY

The Fine Art of Getting Paid on a Mac

By Randall A. Juip and Mark C. Metzger

This paper was originally presented at ABA TECHSHOW 2012 and is reprinted by permission.
Tracking your time and finances are critical to a successful law practice. If you can't send an invoice, you probably won't get paid. While there aren't as many tools available for the Mac as there are for a Windows-using firm, this session will cover the applications that can help you capture time, track costs, run reports and send invoices.

CAREER PATHS!

Julie Garfield

Interviewed by Cynthia Thomas

Julie Garfield is a solo practitioner who handles all aspects of civil dispute resolution before State and Federal courts, arbitrators and administrative agencies for clients with matters relating to real estate, business, contracts, construction defects, judicial foreclosure, professional malpractice defense and employment.

MEET THE WOMEN RAINMAKERS!

Sharon Vogel

Interviewed by Debra Forman

Debra Forman sits down with Sharon Vogel of Borden Ladner Gervais LLP.

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Gavel & Gown Software - Amicus Attorney

American Bar Insurance

TELECONFERENCES & MEETINGS

LPM FALL MEETING 2012
Lake Tahoe, NV
October 17-20, 2012

   

ABA WOMEN RAINMAKERS MID-CAREER WORKSHOP 2012
Lake Tahoe, NV
October 19-21, 2012

   

How to Make Your Law Firm Paperless - Painlessly | Member $85, Code TSUMLPM
November 1, 2012

   

Encryption Made Simple for Lawyers | Member $85, Code TSUMLPM
November 16, 2012

LPM BOOK SPOTLIGHT
Compensation Plans for Law Firms, Fifth Edition Winning Alternatives to the Billable Hour The Lawyer's Guide to Increasing Revenue, 2nd Edition
PODCAST

The Digital Edge: Lawyers and Technology60th Edition - iPad for Lawyers, 2nd Edition

By Jim Calloway and Sharon Nelson

LAW PRACTICE MAGAZINE

Law Practice Magazine,  September/October 2012 IssueLaw Practice is the leading magazine on the business of practicing law. Published six times per year, it offers insightful advice and practical tips on marketing, management, technology and finance.

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EDITOR-IN-CHIEF

Micah U Buchdahl, HTMLawyers, Inc

ISSUE EDITOR

George E. Leloudis, Woods Rogers PLC

ASSOCIATE EDITOR

Andrea Malone, White and Williams LLP

BOARD OF EDITORS

John D. Bowers, Fox Rothschild LLP

Barbara H. Brown, Meagher & Geer PLLP

Margaret M. DiBianca, Young Conaway Stargatt & Taylor, LLP

Rodney Dowell, Lawyers Concerned for Lawyers, Inc.,

Nicholas Gaffney, Infinite Public Relations, LLC

Nancy L Gimbol, Eastburn & Gray

Richard W Goldstein, Goldstein Patent Law

Katy M. Goshtasbi, Puris Image

Elizabeth Henslee

William D Henslee, Florida A&M Univ College of Law

George E. Leloudis, Woods Rogers PLC

Allison C. Shields, Legal Ease Consulting, Inc.

Gregory H. Siskind, Siskind Susser, P.C.

Ben Stevens, The Stevens Firm, P.A. Family Law Center

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