In the 1960s, insurance carriers began to request lawyers to demonstrate what they did for their insureds. The metric was time. How much time did you spend on each matter, each task. What used to be a management tool soon became a pricing tool. And for decades, we’ve been using hourly billing as the modality for determining legal costs. With technology advances, I predict that alternative billing (fixed fees, contingency, capped fees, etc.) will once again prevail.
But, wait a minute. The legal community is not the only one controlled by insurance companies. I went to a cardiologist. All I wanted was a stress test to confirm that I’m fine. No, no cardiologist (I called more than one) would give me a stress test without a previous consultation. O.K. I can’t beat the system. I made the appointment. The doctor agreed I should have a stress test and an electrocardiogram. Fine. Can I make one appointment to do both in the same visit? No. Why not? Insurance won’t pay for both when done on one visit.
Insurance companies should do what they’re supposed to do. Pay for that which is covered. Instead, they get in the way by forcing professionals to alter their procedures in order to get paid. Or is this a case of doctors bilking the system to obtain greater revenue?
One rule for us and a different rule for everyone one else?
Interesting and well-written article in today’s LA Times, written by Sam Farmer. He describes the scramble in the passing-oriented National Football League created by Peyton Manning’ search for a new team. His indecision to date has created chaos for other quarterbacks in the free agency pool. Until Manning gets settled, other free agent quarterbacks aren’t sure of their future.
But one case is of particular note. Manning interviewed quietly with San Francisco 49ers, and took a physical exam; meanwhile, Alex Smith, their quarterback last year (his best season to date) and currently a free agent, has been talking with the team about a new contract. But, if Manning signs with SF, Smith is out of a job.
So far, business as usual. …. But, both Manning and Smith are represented by the same agent, Tom Condon. Shouldn’t Condon be pushing SF to sign Smith? Or is o.k. for an agent to act as nothing more than a distributor carrying several competitive products with no loyalty to any?
A lawyer who did this would definitely be guilty of violating the rules of professional conduct … Obviously, sports agents are not governed by such "rules." But, isn’t there a degree of professionalism and ethics violated by such an agent. Shouldn’t he have to withdraw or create a "Chinese wall?" Something just doesn’t smell right … at least not the way Sam Farmer describes it.
Reservations for the day and half Institute, Path to Prosperity, will be closing soon. Hurry and sign up now. The curriculum will be designed specifically for those who attend, to meet your challenges and hurdles … moving you from where you are to where you want to be. The classic question I ask myself is, What do I want to be when I grow up? What do you want to be? How do you want to see your practice change?
Sign up and address these issues in a small, intimate group that are asking the very same questions.
Ed offers 5 ways to increase your law firm’s revenue. 1. Emphasize collections. 2. Hire lateral lawyers to meet specific demands, a new practice area, a new need. 3. Leverage technology. 4. Create a cooperative compensation model that emphasizes the law firm as an institution. 5. Outsource functions that are better done by others. Delegate.
Law Practice Management expert named to Fujitsu’s Productivity Panel
Venice, CA – February 23, 2012. Noted law practice management guru Ed Poll has been chosen by Fujitsu Computer Products of America as a charter member of the company’s new ScanSnap Squad. Poll is one of five productivity and organization experts chosen to provide input and support to the three-year-old ScanSnap Community, comprised of users of Fujitsu’s ScanSnap products.
"The ScanSnap Squad is a handpicked group of experts focused on productivity and organization in their various fields of work, and we’re extremely excited to have Ed Poll lead the Squad’s legal group," said Derek Flower, business development manager, Fujitsu Computer Products of America, Inc.
"Ed has been contributing to the ScanSnap Community since 2010, providing invaluable expertise in the area of law practice management. It has always been our plan to have Ed kick off the brand ambassador program for ScanSnap, and we couldn’t be more thrilled to have him with us for the launch of the ScanSnap Squad," said Flower.
"I’m excited and honored to be chosen for this panel," said Ed Poll. "A key piece of managing an effective law practice is understanding how to effectively use technology to lower overhead costs."
"Scanning paper documents into electronic files is an essential component in the document retention policy of the successful law firm. ScanSnap Squad allows me to share best practices in this area with members of the legal community," said Poll.
About Ed Poll
Ed Poll, founder of LawBiz Management, is a nationally-recognized expert in law practice management. He helps attorneys and law firms increase their profitability by consulting with them on issues of internal operations, business development, and financial matters. Poll brings his clients a solid background in both law and business. He has 25 years experience as a practicing attorney and has also served as CEO and COO for several manufacturing businesses. In 2010, he received the first ever Lifetime Achievement Award from the California Bar Association’s Law Practice Management and Technology Section.
Poll is the author of numerous publications that have become the definitive works in the field, including 18 books, CDs, and DVD collections. His newest offerings are Growing Your Law Practice in Tough Times (West Publishing, 2010) and 8 Steps to Greater Profitability: The Lawyer’s Guide to Prosperity (LawBiz Management, 2011). He has also authored books on business planning for attorneys, improving collections, buying and selling law practices, disaster preparedness and recovery, and exit strategies for legal practitioners. His offerings are available at LawBizStore.com.
Poll hosts the LawBiz Forum, an interactive community for the legal profession, as well as the LegalPadTM video series. He is a columnist for several publications geared to the legal community, including the Massachusetts Lawyers Weekly and Legal Management, and hosts regular webinars for West Legal Edcenter. Poll earned BS and JD degrees from the University of California, Los Angeles, and an MBA from the University of Southern California.
About Fujitsu Computer Products of America, Inc.
Fujitsu Computer Products of America, Inc. is an established leader in the Document Imaging industry, delivering innovative scanning solutions and services that enable our customers to solve critical business productivity issues and streamline operations. Fujitsu provides cutting-edge document capture solutions for business and personal environments, backed by a comprehensive portfolio of service and support programs. For more information about Fujitsu Document Imaging solutions and services, visit http://us.fujitsu.com/fcpa or call us at 800-626-4686.
About LawBiz Management
LawBiz Management is the nation’s leading firm dedicated to managing the Business of Law®. The company focuses on helping lawyers reach their goals and law firms improve their practices by increasing revenues, improving profits, and reducing the stress of the practice experienced by lawyers. Among the services offered are coaching, consulting, speaking, and managing firm retreats. LawBiz Management also consults on the buying and selling of law practices.
