For many years, firms have tried to retain duplicating, print and scan work on-site. One of the reasons for this was to maximize recovery revenue. The reasoning went something like this: “we are paying for this equipment and people to run it, and we have a mechanism in place to capture these costs and charge them back to our clients.” Firms would focus on driving billable volume, thus maximizing recovery.
But recovery is not measured in billable volume alone. Firms need to look at their “realization.” In its simplest terms, “realization” refers to the amount a firm actually received from a client for these recoverable charges compared to the total amount of available recoverable charges. Looking at increasing utilization of “billable” client matter numbers is only one part of the equation. If your attorneys and/or clients are writing off the charges, your overall recovery will suffer.
Mattern offers a wide variety of traditional and alternative cost recovery strategies designed to maximize not only your billable volumes, but more importantly, your realization percentages. Call or email for more information.