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Jul 16, 2013


Metrics and Dashboards for a Personal Injury Law Firm

Question:

I am the managing partner of a three attorney personal injury plaintiff firm in Indianapolis. We have a total of 600+ open PI files. What are some of the key financial metrics/indicators that we should be using to manage the practice?

Response:

From your case count it is obvious that you a managing a high volume practice. In addition to selecting the right cases managing you inventory (case portfolio) is crucial as is managing and monitoring the effectiveness of your marketing investments. Here are a few metrics that you might consider incorporating into a one page report with trend line charts. You can design the report in Excel and pull the numbers from detail reports from your case management system:

Plotted by Month

This will get you started.

Income statements/profit and loss statements are nice history lessons but they don't help you manage the productive operations of the firm.

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John W. Olmstead, MBA, Ph.D, CMC

 


Posted at 09:41 PM in Financial Management
Tags: Law firm metrics and dashboards personal injury firm

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