Large law firms did a better job collecting their bills last year, helping realization rates rise in 2021 and contributing to one of the strongest years on record in the legal industry.
Whether firms have any room to improve realization this year partly depends on demand during the rest of the pandemic. But there are also variables they can control, analysts and law firm leaders say, such as practice mix, leverage, billing and collection discipline, and client relationship management—all of which could nudge realization upward.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]