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Billing Basics Revisited: Write-downs and Collections

By William F. Brennan

[Editor's note: While A&FP regularly seeks to explore new and advanced profitability techniques, the wide experience of our authors regularly confirms the vital need to keep an eye on basics. It's been some time since we revisited these particular perennials in the profitability garden. Our Editorial Board member Bill Brennan's review clarifies their importance and provides some fresh insights.]

After working with several hundred law firms during the past two decades I have identified two areas that often offer the best potential to dramatically improve a law firm's net profit. Both of these areas relate to the billing process.

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