In the past ten years, recovery for charges actually billed to the client have only decreased by 5%. What has substantially declined in the past ten years’ is attorneys’ willingness to charge clients for soft costs. We know this because internal write-offs was the area of largest increase---growing by almost 20% just last year alone.
If your recoveries are declining or you aren’t recovering at all– it is more likely a problem of policy and charge back model than clients’
willingness to pay.
That’s where the cost recovery experts at Mattern can help.
Mattern is the undisputed leader and expert in cost recovery in the legal industry. Since 2004, we have produced the most valuable data of cost recovery practices to help firms benchmark and create a strategy that works.
What Mattern’s decades of data and expertise show is that the traditional soft cost recovery model continues to be the dominant model in the marketplace, but hard costs are the most effective way to recover costs with net realization remaining in the mid 80% range.
When it comes to your firm’s recovery strategy, there are a lot of questions—but one basic place to start: put aside what you think you know, and perform a data-driven assessment.
A cost recovery consulting engagement with Mattern is focused, extensive, detailed, and data driven. We analyze your existing cost recovery rates and processes, compare them to industry and peer benchmarks and best practices, and recommend a strategy that will bring about significant improvement. The scope of our investigation includes:
- Copies and prints, both color and b/w
- Digital services
- Legal research
- Overnight shipping & postage
- Litigation support / e-Discovery services
What Do We Deliver To You?
Want to learn more? Check out these recent case studies and blog posts:
Am Law 200 Firm Gains Competitive Advantage and Charge Back Model to Recoup Costs for eDiscovery Managed Services
Mattern Assists an Am Law 200 Firm Create New Cost Recovery Model to Recoup Charges for Litigation Support Solution
Cost Recovery is Dead–Unless It’s Not. How Will Your Firm Decide Strategy?
Is it the Write-offs or is it the Clients Causing Decline in Recoveries
What Do Legal Research Cost Recovery and Scans Have in Common?
5 Ways to Improve Cost Recovery for Your Law Firm
How Can We Help Your Firm With Cost Recovery?