Has your law firm’s profitability remained flat despite adding cases and staff? Law practices sometimes face this issue when their workflows and processes are not optimized. Case value is determined by profitability, which relates to how much the case costs to deliver. If your high-cost paralegal staff spends too many hours working on low-value tasks, your case value will suffer.
In this blog, we will discuss how law firms can increase case value and maximize profitability by streamlining internal processes without compromising the quality or integrity of operations. ClaimUp is a legal staffing firm that enhances case quality and value by introducing a specialized legal assistant to support each paralegal, ensuring that each case benefits from dedicated attention and expertise.
There are many ways case value can be reduced or exhausted; here are a few:
Your in-house staff is expensive, and the more you pay paralegals to do low-value work, the more case value will be reduced. Law firms need their paralegals to focus on high-value tasks, such as client relations, to maximize revenue.
According to a 2022 Legal Trends Report, the average law firm collects $748 for every $1,000 of billable work. This means that most law firms can improve their profitability by optimizing processes and workflows.
Long case timelines hurt case value because the longer a case takes to deliver, the more expensive it becomes. If your high-cost paralegals spend most of their time on low-value tasks, their ability to deliver high-value tasks suffers, and so does the profitability of a case.
Long case timelines also contribute to staff burnout and turnover. Legal staff recruitment is an expensive process that eats into your firm’s revenue, and it is particularly detrimental when the staff you spent so much time and money hiring turns around and quits after a few months.
The most effective way for law firms to increase case value is by streaming their workflows and ensuring that everyone is focused on their highest-value work. That means hiring legal assistants specializing in low-value tasks to support your paralegals.
Cases will naturally turn around faster when your legal staff can focus on their specialized tasks. ClaimUp’s solution to case turnaround is to provide your firm with trained legal assistants who will complete low-value tasks at a fraction of the cost of a paralegal. This will allow your paralegals to focus on their specialized tasks, such as building client relationships and other high-value legal work.
ClaimUp can provide your law firm with cost-effective workflows to streamline and optimize your internal processes. Their legal assistants will seamlessly integrate into your organization and support paralegals by performing a case’s most tedious tasks.
Quality client relationships will directly translate to law firm profitability because happy clients deliver repeat business and recommendations. Good client relationships also deliver cases faster because your paralegals directly support your clients by performing high-value tasks.
ClaimUp will improve your law firm’s client relationships by freeing up your paralegals to focus on building better relationships with your clients. They do this by providing legal assistants who will ease the pressure and high-cost workload of your paralegals.
The final way law firms can increase case value is by preventing paralegal burnout and turnover. When paralegals become overwhelmed with tedious clerical work, they often burnout and quit. That means you will need to spend additional money to vet, hire, train, and retain more staff. If burnout and turnaround happen in the middle of a case, case value will be greatly diminished.
ClaimUp not only helps prevent paralegal burnout but also handles all of the vetting, hiring, training, and retaining legal assistants. This will save your law firm a great deal of time and resources while also increasing case value.
Experience the difference with ClaimUp, where efficiency meets excellence. Let us help you streamline your operations and achieve sustainable growth. Schedule a free consultation today.