Most insurance carriers, Third Parties Administrators and corporations are now using the services of bill review vendors to ensure that their outside counsel invoices are compliant with their agreed billing guidelines before payments are made.
There is a growing number of bill review vendors across the US and they seem to be handed a lot of power over legal invoices by their clients.
Law firms are writting off a lot of their billable hours in order not to upset their clients or losing business.
Increasing write-offs or reducing resources in your billing department is not a long term solution.
Firms need to move away from outdated billing platforms that they have been using for years and catch up with the latest technology which will make the timekeepers more efficient and improve their billable hours.
ALB is the world leading billing platform as it was created by former owner of a bill review company, with this company being the preferred bill review vendor for leading Insurance carriers, TPAs and corporations across the US, Europe and Asia Pacific.
Through our ALB mobile or web platform, your timekeepers will be able to easily capture their daily activities on the go and each line entry will be automatically checked and ensured that it is compliant with that client’s billing guidelines.
Your timekeepers can now switch from one client to another or one line of business to another and enter their activities with the assurance that the entries will be compliant and that they will not be chased by the billing department to provide further details on that entry.
This will increase your firm’s billable hours and improve your firm’s profit margin.
Working with a bill review vendor that your client has instructed your firm should not be a tedious task. Many firms across the US and overseas are finding themselves marginalised by bill review vendors, and in some cases bill review vendors are treating to stop these firms from submitting invoices.
ALB’s AI powered platform will not only improve your firm relationship with the bill review vendors but ultimately with the clients that you are serving.
Using ALB as your billing platform will ensure that the metrics provided to your clients by the bill review vendors show minimal to zero reductions being made on your invoices. This will foster positivity and trust and improve your firm clients’ relationship. This will guarantee that your firm remains on your client’s outside counsel panel for a very long time.
Ensuring that your firm’s cases budget are always close to your actual legal spend could be challenging, and could result in frustration on the firm’s and clients side.
Using our ALB budget tools will make that task easy for your firm and improve your client confidence and trust in your budget forecast. This will also result in a better clients' firm relationship.