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5/13/2010
3/25/2010
What are value drivers?
Value Drivers are $Money$
A value driver is any information that is used by insurers' software to put a dollar figure on your claim (e.g. injuries and their codes, treatment, duration of treatment, complaints, impairment, loss of enjoyment, etc.).
More often than not, a doctor will write about injuries in his/her report that he/she doesn't include in the diagnosis. For example a doctor may mention in his/her records that the patient/client has a bruise on his/her chest from the seatbelt. That is an injury. Adjusters don't have time to hunt through every claimant's medical records. If an injury is mentioned at all in the medical records, IT MUST BE DOCUMENTED IN THE DEMAND LETTER. Every injury is a value driver, and value drivers compound... making for a larger settlement! Every injury client should have as many injuries and injury codes as possible in their demand letter. There are several common injuries that should be in almost every demand letter. As mentioned above, ICD-9 922.1 - Chest Wall Contusion. If your client sustained a chest bruise from the seatbelt, it isn't too far of a stretch to suggest that she/he probably also sustained a bruised abdomen. ICD-9 922.2 Abdominal Wall Contusion.
It is in your and your client's best interest to make sure that the adjuster has all value drivers ready and easy to input to maximize settlement dollar amount.
I have read thousands of medical records and have written hundreds of demand letters and I can easily spot injuries and complaints, pull them out of the records, and assign codes to them to maximize your client's recovery. (More money for you and your client!)
A value driver is any information that is used by insurers' software to put a dollar figure on your claim (e.g. injuries and their codes, treatment, duration of treatment, complaints, impairment, loss of enjoyment, etc.).
More often than not, a doctor will write about injuries in his/her report that he/she doesn't include in the diagnosis. For example a doctor may mention in his/her records that the patient/client has a bruise on his/her chest from the seatbelt. That is an injury. Adjusters don't have time to hunt through every claimant's medical records. If an injury is mentioned at all in the medical records, IT MUST BE DOCUMENTED IN THE DEMAND LETTER. Every injury is a value driver, and value drivers compound... making for a larger settlement! Every injury client should have as many injuries and injury codes as possible in their demand letter. There are several common injuries that should be in almost every demand letter. As mentioned above, ICD-9 922.1 - Chest Wall Contusion. If your client sustained a chest bruise from the seatbelt, it isn't too far of a stretch to suggest that she/he probably also sustained a bruised abdomen. ICD-9 922.2 Abdominal Wall Contusion.
It is in your and your client's best interest to make sure that the adjuster has all value drivers ready and easy to input to maximize settlement dollar amount.
I have read thousands of medical records and have written hundreds of demand letters and I can easily spot injuries and complaints, pull them out of the records, and assign codes to them to maximize your client's recovery. (More money for you and your client!)
3/24/2010
Solos and Small Firms
Helpful Information for Solos and Small Law Firms
SoloSez:
SoloSez is a free list-serve “open” to all solo and small firm lawyers. Some lawyers believe that SoloSez is a great wealth of information. If you don't already belong... you might want to check it out. Below is info:
The ABA operates and maintains SoloSez, but ABA membership is not required to join. It is a tremendous resource for nearly any area in which you might have a question affecting your practice.
If you have any questions about SoloSez, please visit
http://www.abanet.org/soloseznet/index.html.
FAQ available at http://www.abanet.org/soloseznet/about.html
SoloSez:
SoloSez is a free list-serve “open” to all solo and small firm lawyers. Some lawyers believe that SoloSez is a great wealth of information. If you don't already belong... you might want to check it out. Below is info:
The ABA operates and maintains SoloSez, but ABA membership is not required to join. It is a tremendous resource for nearly any area in which you might have a question affecting your practice.
If you have any questions about SoloSez, please visit
http://www.abanet.org/soloseznet/index.html.
FAQ available at http://www.abanet.org/soloseznet/about.html
12/14/2009
CSC Settles out of Colossus Class Action
Computer Science Corp., CSC, the distributor of the insurance software Colossus, and approximately 581 insurance companies have agreed to settle.
The proposed class action alleges that insurance companies use these software programs e.g. (Colossus) to undervalue bodily-injury claims settlements in an effort to increase profits.
The insurance companies argued that these programs can provide a consistent estimate for bodily-injury claims through data input by the insurance adjusters.
http://www.setexasrecord.com/news/218016-csc-settles-out-of-colossus-class-action
At least 581 insurers are still going to use Colossus to evaluate your claims. You need to make sure that all of your client's value drivers (any information that is used by insurers' software to put a dollar figure on your claim e.g. injuries and their codes, treatments, comlaints, impairments, loss of enjoyment, etc.) are in "the system".
DO YOU REALLY WANT THE ADJUSTER (THE PERSON WHO GETS PAID TO UNDERVALUE YOUR CLIENT'S CLAIM) TO BE THE PERSON TO DETERMINE WHAT YOUR CLIENT'S VALUE DRIVERS ARE?
Adjusters aren't reading traditional demand letters. They don't have time. Nor do they care. They are only taking out value drivers from the records. They are overworked and have very little time per claim. It is in your and your client's best interest to make sure that the adjuster has ALL value drivers ready and easy to input to maximize settlement dollar amount.
GREAT DEMANDS prepares demand letters for personal injury lawyers and their clients. Our demand letters are written to address the requirements of Colossus and other claims evaluation software. They are in a format that makes it easy for the adjuster to input the necessary information, therefore ensuring that ALL critical value drivers are entered to increase your client's claim.
www.GreatDemands.com
The proposed class action alleges that insurance companies use these software programs e.g. (Colossus) to undervalue bodily-injury claims settlements in an effort to increase profits.
The insurance companies argued that these programs can provide a consistent estimate for bodily-injury claims through data input by the insurance adjusters.
http://www.setexasrecord.com/news/218016-csc-settles-out-of-colossus-class-action
At least 581 insurers are still going to use Colossus to evaluate your claims. You need to make sure that all of your client's value drivers (any information that is used by insurers' software to put a dollar figure on your claim e.g. injuries and their codes, treatments, comlaints, impairments, loss of enjoyment, etc.) are in "the system".
DO YOU REALLY WANT THE ADJUSTER (THE PERSON WHO GETS PAID TO UNDERVALUE YOUR CLIENT'S CLAIM) TO BE THE PERSON TO DETERMINE WHAT YOUR CLIENT'S VALUE DRIVERS ARE?
Adjusters aren't reading traditional demand letters. They don't have time. Nor do they care. They are only taking out value drivers from the records. They are overworked and have very little time per claim. It is in your and your client's best interest to make sure that the adjuster has ALL value drivers ready and easy to input to maximize settlement dollar amount.
GREAT DEMANDS prepares demand letters for personal injury lawyers and their clients. Our demand letters are written to address the requirements of Colossus and other claims evaluation software. They are in a format that makes it easy for the adjuster to input the necessary information, therefore ensuring that ALL critical value drivers are entered to increase your client's claim.
www.GreatDemands.com
12/08/2009
12/07/2009
What is your "why"?
Meet my "why": Aubrey, Gracie, and Emily. They are the reason for my successes. Figure out what your "why" is. It is imperative that you have a clear idea of what is important to you. What are your dreams? What makes you emotional?
Once you have figured out your "why"
Put a picture of your "why" on your desk, in your wallet, on your car visor, or wherever else you will see it often.
Set goals. Without goals and direction, motivation becomes difficult to maintain.
Stay the course.
Lastly, something to think about:
Everything e.g. every building ever built, every book ever written, every song ever sung, every marathon ever ran, every relationship ever entered into, everything was first a thought.
If you can think it... you can do it!
7/24/2009
Is Great Demands Cost-Effective? Absolutely!
For a high volume practice, outsourcing the preparation of your injury settlement packages can be extremely cost-effective. Let's assume that the average cost of a settlement package prepared by us is $400. Let's also assume that your office prepares 50 to 100 demand packages for motor vehicle injury claims each year. Our services would cost you $20,000-$40,000 over the course of a year. That is less than the salary alone for one good full-time paralegal. The savings are even greater when you consider the cost of health insurance, vacation and sick pay, and other benefits. Use of our service also frees up valuable paralegal and attorney time for other tasks.
For a low volume practice (e.g. a solo attorney with limited or no support staff, or an attorney who only occasionally handles an injury claim) outsourcing the preparation of your injury settlement packages can also be extremely cost-effective. Let's assume that the average cost of a settlement package prepared by us is $400. If your average billing rate is $200 per hour, you would have to spend no more than two hours on the preparation of a settlement package to be more cost-effective than our service.
For more information go to www.GreatDemands.com
For a low volume practice (e.g. a solo attorney with limited or no support staff, or an attorney who only occasionally handles an injury claim) outsourcing the preparation of your injury settlement packages can also be extremely cost-effective. Let's assume that the average cost of a settlement package prepared by us is $400. If your average billing rate is $200 per hour, you would have to spend no more than two hours on the preparation of a settlement package to be more cost-effective than our service.
For more information go to www.GreatDemands.com
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