Personal Injury Practice: Challenges and Opportunities
Plaintiff personal injury practice unlike other law practices involves risk as an attorney is investing his time, effort and capital ( overheads, expert witness fees, deposition expenses, extensive travel and other case-related costs) when there is no guaranteed outcome.
Considering that over 95% of cases do not even go to the trial stage, settlements are the biggest source of income for PI law firms clubbed with an occasional blockbuster case (if lucky).
So the equation is simple: “PI Attorneys need to settle more cases and settle them quickly in order to be successful/to increase their cash flow”. Easy, isn’t it?
Problem is, more cases would need more staff who would need to be paid on a monthly basis. Bearing in mind that personal injury attorneys also need services of nurses, medical experts and other professionals apart from paralegals, this really becomes un-affordable during tough times. Especially when law firms are focusing on improving attorney-paralegal/secretary ratio and overall efficiencies. It is noted that companies like Draft n Craft have been assisting law firms with its support services to deal with these issues. Now the existing staff of law firms are just supervising the work done by the attorneys/paralegals of Draft n Craft. It gives them great flexibility and frees up their time to focus on more substantive issues because many of day to day tasks like summarizing depositions and medical records, researching on Lexis/Westlaw, Indexing thousands of discovery documents or drafting of numerous legal documents are effectively performed by Draft n Craft.
Draft n Craft has a dedicated team of attorneys, paralegals, and doctors who provide cost-effective services to their clients. The company has been working with PI attorneys for over 7 years now and knows what it takes to be a catalyst to the growth of personal injury law firms.
It not only helps them save by providing cost effective legal support services but also helps them to reduce their case-cycle and settle more cases without increasing their overheads.
The company offers free consultation and an initial pilot project for you to have a greater understanding of the process before you take a decision.