It pays to implement an effective billing system—literally. On the front end, having a system in place increases realization rates because it gets money in the door. On the back end, fee disputes and related malpractice claims can be minimized, if not avoided altogether. Knowing the fundamentals of billing and collections can make the world of difference for any law practice from both a financial and risk management perspective. Here are five steps worth considering when implementing or revising your billing and collections processes.
