Risk/Reward Sharing - a new "No Cost" approach to the Legal Bill Review services offering by LSG

A No-Cost option for clients to have their legal bills reviewed is now offered by LSG. An effective Risk/Reward sharing model, wherein LSG earns its fees from the results of the LBR process.

No results, No fees.

This model can be applied to current matters or closed matters and for legal bills of any size and complexity.

Take advantage of this new offering now and LSG will provide a fast turn around. You can read more about our LBR service below, and we ask that you contact either our Chief Executive, Gary R Markham in New York at grm@lsg.com or our Client Services Executive in London, Charlie Morgan at ccm@lsg.com for further details.

The LBR process typically involves recently closed cases/matters, or situations where clients feel they need greater insight into the details of the case history, billing patterns, tasks completed, adherence to budget (if any) and overall performance of the law firm(s), across the life of the case/matter.

It may form part of a closed case study or audit, and/or to support the business case for a live program of Advocator System^®.

What are the Benefits of the LBR Process?

The level of detail to which LSG performs its analysis is far more granular than would typically be performed by the client's file handler or in-house lawyer.

In some cases, there is insufficient time, the case is extremely complex and the relationship with the outside counsel firm is such that any formal legal bill review may be perceived to challenge the high levels of trust that we expect there to be between client and lawyer.

Outsourcing this effort to LSG, in most cases, provides the client with a certain level of "relief" in this regard and allows it concentrate on resolution or settlement of the case.

Other benefits are far more tangible and can be demonstrably measured in financial terms.

Processing the invoices in the Advocator System^® enables an electronic "validation" to be undertaken, meaning that any anomalies such as rate discrepancies, mathematical errors, duplicate entries, erroneously-billed travel costs, expert fees and other disbursement expenses can be corrected. Date completeness and correctness is also measured and corrected during invoice submission.

Following the system-driven electronic validation, LSG's own in-house legal staff perform a "compliance review", as measured against "industry-standard" [e.g. in-use for over a decade] litigation management guidelines, which typically identifies further anomalies.

These anomalies are called Guideline Non-Compliances or "GNC's". Each GNC category is defined and when applied to submitted invoices attracts a monetary value of potential reductions.

LSG also provides a "reasonableness review" and takes account of the fact that the law firm(s) would have had the opportunity to challenge GNC's, had these invoices flowed through in a "live" litigation management program.

What is the bottom line?

The LBR process can never guarantee results in advance of the analysis. However, we typically demonstrate between 7% -15% GNC savings of the gross submitted invoices.

LSG has significant and substantial experience in these types of projects, spanning many years, case types, jurisdictions, product lines, legal strata, complexities, including cases exceeding $110million US Dollars in legal costs.

Please contact us to find out more.