Ask yourself this question : “How many times have your clients written on the client care feedback form that they were happy with the outcome of the case but wished the process had lasted longer?” I can confidently predict that your answer is “never”.
Maintain the high quality of settlement you negotiate for your client but achieve that settlement more quickly and client care will correspondingly improve. So incidentally will your profitability as you reduce the working capital cycle of your cases, realise WIP and recover disbursements, in other words reduce lock-up. As Helen Simpson, director of LawNet says in the Law Society Gazette : “Lock-up directly impacts firms’ profitability – the greater the amount of lock-up, the higher a firm’s finance costs.”
Personal injury mediation settlement meetings offer an excellent opportunity to negotiate early settlement of claims providing you with increased client satisfaction and reduced lock-up.
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