Why is it worth repeating?
Expired rates could be causing your Firm to lose revenue!
As we've mentioned in the past, our experience has shown that Firms often struggle with monitoring rate end dates. Unfortunately, it is not uncommon to find rate arrangements that are at least three to five years old, and we have seen lost revenue opportunities that exceeded $500,000 per year simply due to expired rates.
It is imperative to review – and refresh – rates diligently.
What small step can you take today to start solving the problem of expired rates? Mark your calendars for recurring reminders to refresh those rates!
For long term goals, we recommend doing a routine Rate Audit utilizing Rippe & Kingston's LMS+ Practice Management Rate Audit Watchlist and Rate Audit reports.
If you're staying on top of your rates already, great job!
If not, start today!
