RICHMOND, Va., March 28, 2017 /PRNewswire-iReach/ -- Acuity ELM, a leading provider of cloud-based enterprise legal management ("ELM") software to corporate legal and insurance claims departments, today unveiled the inaugural installation of its Mass Tort Timekeeper Rate Report, the first of its kind focusing specifically on timekeeper rates, trends and metrics within the mass tort litigation universe. The report dissects timekeeper rates across seven key roles and overlays those benchmarks with state and national analysis for calendar years 2014 - 2016.
The first annual report includes four key sections:
- National Trends and Topline: a holistic, at-a-glance view of average attorney and non-attorney rates across the country
- National Coordinating Counsel Topline: a focused review of trends specific to national coordinating counsel
- Average Rates by State: a comprehensive index of average attorney rates across the U.S.
- State-Specific Deep Dives: a close look at seven key timekeeper roles and their average and median rates
"Mass tort litigation typically demands exponential levels of documentation, collaboration and billing oversight. Legal counsel tasked with architecting sound, consistent defense strategies across multiple geographies, claimants and firms are expected to deliver favorable outcomes – on or under budget. Acuity's leaders have spent a combined 75 years coordinating and administering mass tort defense strategies and are excited to translate our unique expertise and perspective into this rigorous analysis," observed Acuity ELM President Kelley Johnston.
The data that fuels the Mass Tort Timekeeper Rate Report is derived from sanitized, anonymized billing inputs collected via Acuity's Mass Tort Manager platform. Mass Tort Manager's flexible design supports batch processing in discrete tiers based on the how coordinating counsel organizes their work - most commonly by state, project or entity. These tools enable intuitive navigation among the complex matrices of claimants, outside firms and low-dollar, high volume invoices incumbent with mass tort administration – and for straightforward aggregation of timekeeper rate information across a variety of roles and disciplines.
Johnston concluded, "Legal teams that coordinate and administer mass tort defense strategies have never faced tighter scrutiny about the timekeeper rates they negotiate and maintain. We hope that the Mass Tort Timekeeper Rate Report can translate the sea of timekeeper roles and rates into consumable intelligence that informs how legal experts organize and design their portfolios to protect their organizations and optimize outcomes."
The report will be published on an annual basis and include trended analysis for the prior three year period. The full sixty-page compendium is available for free download at http://www.acuityelm.com/product/2017-mass-tort-timekeeper-rate-report/.
About Acuity ELM®
Founded in 1996, Acuity ELM is a software-as-a-service provider of legal e-billing, matter management, analytics and collaboration technology. From basic tracking of legal cases and claims through advanced automation of billing rules and all points in between, Acuity ELM serves as the data hub and communication conduit that reduces error, eliminates redundancy and provides the intelligence required to answer the strategic questions that keep Chief Legal Officers and General Counsel up at night.
Acuity ELM delivers intuitive, affordable enterprise legal management software and exceptional client service to legal teams of all sizes – with an eye toward fostering industry-wide efficiency and advancing the integrity of the ELM landscape as a whole.
To learn more about Acuity's enterprise legal management product suite, visit www.acuityELM.com.
Media Contact: Pamela Jowdy, Acuity ELM, 804-221-8759, pjowdy@acuityELM.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com