Randa Predergast: Conquering Your Law Firm’s AR and Billing

Description

In this episode, Steve Fretzin and Randa Predergast discuss:

Committing to your processes no matter how busy or slow your firm is.
Why many lawyers struggle with billing and accounts receivable.
Perceived value in your costs with your clients and setting expectations around billing with them.
Handling difficult AR and collections with clients.

Key Takeaways:

Lack of processes, lack of time, and thinking emotionally about your costs are three of the biggest issues around lawyers receiving their proper payments.
Lawyers make exceptions more than any other professional industry leading to higher levels of AR. You are not being exceptional when you make exceptions.
You can have your clients on ACH and autopay as long as it is kept securely. This will nearly eliminate your AR.
Book keeping and collections should not be done by the attorney. They are delegatable to other professionals.

"We want to remove the attorney from this process as much as possible. I only like to bring them in on making decisions about stopping work because of non-payment. So all the tasks up until that point should really go to a legal assistant, admin, billing clerk, or something of that sort, not even a paralegal." — Randa Predergast

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Episode References:

The Go-Giver by Bob Burg & John David Mann: https://thegogiver.com/

About Randa Predergast: Providing expert services in law firm and case processes (including implementation and training), paralegal support, and billing clerk services on a 1099 basis.

Connect with Randa Predergast:

Website: https://mrsjunelegal.com/

LinkedIn: https://www.linkedin.com/company/mrs-june-legal-llc/

LinkedIn: https://www.linkedin.com/in/attorneywhisperer/

TikTok: https://www.tiktok.com/@attorneywhisperer

Connect with Steve Fretzin:

LinkedIn: Steve Fretzin

Twitter: @stevefretzin

Instagram: @fretzinsteve

Facebook: Fretzin, Inc.

Website: Fretzin.com

Email: Steve@Fretzin.com