Legal Time & Billing Software - a “Must Have” For Law Firms
Legal Time & Billing Software - a "Must Have" For Law Firms
Tracking billable hours, a variety of fee arrangements, restrictions posed by state ethics rules, and clients who dispute bills can mire your firm in billing issues and affect your bottom line.
Fee Arrangements Vary Most law firms provide a wide range of legal services and offer any number of fee arrangements. Depending on the client matter and fee structure, billing options for an invoice may include one or more of the following fee types:
• Hourly • Fixed • Retainer based hourly • Retainer fixed • Contingency
State Ethics Rules Pose Billing Restrictions Retail businesses choose a standard mark-up, assess going market prices, and charge accordingly for their products and services. Law firms, on the other hand, face unique requirements. While they can set their own rates, state ethics rules regulate how hours are billed and how law firms do business. And, very often lawyers are required to continue representing clients even if the client's payments are delinquent.
Lost Billable Hours Impact Profitability Time is a precious commodity, especially for law firms. Client work is billable the hours spent on bookkeeping are not. The choice is yours. You can focus on client matters and let a smart system handle time and billing, or lose billable hours as you cope with cumbersome, manual systems. How you track and account for billable hours directly impacts your firm's profitability.
Preparation for Billing Disputes & Audits Ethics rules also mean that if a billing dispute arises, a law firm must be able to produce a detailed audit trail, showing who did what, when, and how and what the client was charged. Back-office and especially the billing department personnel know that any manual billing system is a nightmare in the event of a controversy or audit. Tech savvy law firms understand the challenges and use cutting edge tools to work proactively and prevent questionable billing practices and disputes.
Legal Billing Software to the Rescue Legal time and billing software designed specifically for law firms can provide many advantages. Not only will you get a total financial view, you'll have the ability to:
• Track all billable time. It's a simple money equation, if you loose track of billable time, you won’t send an invoice and you won’t get paid. • Automate invoice generation and payment receipts. • Monitor and manage inventory (unbilled legal services) • Keep an eye on clients who are not paying on time. • And best of all, produce detailed statements and records in case of an audit or billing dispute.
With simple, affordable billing software, you'll avoid a host of problems. Even small law firms and solo practitioners can effortlessly manage their entire practice revenue, expenses, collections and operating accounts without resorting to costly accounting programs.
Easy Soft has been a leading legal software provider since 1986. We offer specialized solutions for real estate, family law, trust account management, document automation, time & billing, bankruptcy and estate planning. More than 15,000 customers use our legal software products to increase their office productivity.
Related News:
CollaborateMD Surpasses $1 Billion in Claims Annually
CollaborateMD (formerly ClaimGear), a leading provider of Internet-based medical billing and practice management solutions for physician offices and medical billing services, announced today that it now provides medical billing software ...more
DMN Newswire, CA
Electronic Medical Records Software Provider Offers EMR Software For All Health Care Professions
Over their many years in business, the software designers have taken input from physicians, office managers, billing consultants, and many other medical ...more
PRLog.Org, Romania
CMA-backed Clinical Management System (CMS) one of two new Application Service Provider (ASP) Offerings selected by OntarioMD for use by doctors
About Practice Solutions Software Practice Solutions Software was established in 1982 and acquired in 2004 by the Canadian Medical Association through CMA ...more
Canada NewsWire (press release), Canada
Medical Billing and Practice Management Software: Luxury or Necessity?
If you are sick of losing patients because you are disorganized and are mad at insurance companies for refusing to pay because of errors in the payment submission, you need to consider medical billing or practice management software. Here are some tips to consider when attempting to buy this very important piece of software.
Medical Billing Software Provides Easy Access to 2005 CPT Code Book
Multiple data bases, multiple servers, superbills, synchronization, multiple logins, reports, backups, workstations. Honestly, there is enough to worry about already in managing medical offices. On top of all of that there are multiple codes to remember and refer to?
What Makes a Good Medical Billing and Transcription Company
In the recent years, the outsourcing industry has expanded to include not just call centers but also companies that provide administration support such as medical billing and medical transcription services.
Medical Billing and Coding: An Important Process for Patients and Doctors
Whether you realize it or not, if you've ever been to a doctor's office or any other type of medical office, you've been involved with medical billing and coding. Most people are never aware of the standard practice regarding how medical claims are paid.
ROI Analysis for an ASP Practice Management System for the Medical Industry
Executive Summary Within this document, you will see detailed financial analysis and real world scenarios that will demonstrate the exponential cost savings that can be achieved with an ASP medical practice management software for all of your billing needs.
Medical Billing Software - The Partner of Medical Practitioners
To keep track of hospital or clinic finances, payments, and patient records, a lot of doctors and hospital administrators already make use of the various medical billing software products available. Should you use one, too? Read on so you can make an informed decision.
Medical Billing Courses Online Should Not Be
Sure it would be easy for someone to tell you what good online medical billing courses should be comprised of. However, by showing you what they SHOULD NOT be will make a more dramatic impact on you so you will remember them instantly when researching an online course.
Medical Billing Software Concept
More than ten years ago medical billing records were committed on paper. The advent of computers and the introduction of reliable medical billing software have largely phased out the paper system of keeping medical billing records.
Five Key Benefits of Using Medical Billing Software for Your Medical Practice
Learn five key benefits of using medical billing software or services. Become an advanced MD with today's modern technology and watch your practice grow.
Medical Billing Services (The Facts) All You Need to Know
This article is full of information regarding out-sourcing medical billing. It has some essential questions that need to be asked if you are considering out-sourcing your medical billing. You can have all need to start making those decisions on what you want to do.
Medical Billing Software takes the Stage
The practice is running smoothly, with patients coming in and out with smiles on their faces because of the great service your practice is providing. At the end of the day, you review the office secretary’s billing records and realize you are behind, again.
Reduce Medical Billing Time and Overhead Costs for Your Medical Practice
Learn how you can save time and money with these medical billing tips. Discover how medical billing services or medical billing software can benefit your practice.
Meeting Medicaid Billing Needs with Sensitive Medical Billing Software
Medicaid billing requires medical billing software that is versatile and sensitive enough to work with Medicaid. Medicaid is state subsidization of medical expenses paid on behalf of qualified low-income individuals or families. Though requirements differ in each state, the payment is made directly to the medical practice or service provider.
3 Reasons Why Medical Billing Software is Leading the Way
Since technology changes so quickly, it is hard to begin by saying “in the old days . . . ,” but that seems to fit the best. In the old days, medical companies, service providers, and almost any other business which used automated billing enjoyed the convenience of logging on to a database
Medical Billing Courses Online Should Not Be...
This article describes what prospective home based medical business owners must watch out for before they spend any money to become involved in the home based medical billing industry
Not to long ago several entrepreneurial and financial magazines stated that medical billing from home was one of the top ten home based businesses for the new millennium