Managing your personal injury case settlements can be a time-consuming task. There are many things to consider, particularly how you can keep track of all your personal injury claims, negotiations, fees, and expenses. One way to do this is by using a settlement calculator for personal injury law firms. Below, we explain how CloudLex’s injury settlement calculator streamlines the settlement process, ensures you don’t miss a single cent, and maximizes the rewards for clients.
Track demands and offers
CloudLex’s settlement calculator for personal injury firms manages all demands and offers in one place. You can log offers from adjusters against their plaintiff’s insurance and track payment requests and expenses for each injury type (e.g. car accident, lost wages, property damage, special damages). Our settlement value calculator also shows attorney and plaintiff recovery for each offer and counteroffer. Additionally, anyone with appropriate access permissions on the personal injury calculator can check the settlement stage and pick up from where the previous personal injury lawyer left off.
It is very important to log every negotiation in the lifecycle of a case. CloudLex’s personal injury settlement calculator makes this easy for you by enabling you to analyze both gross and deducted calculations for each negotiation. You can also choose to include referral attorney fees in the calculations if applicable. Once the negotiations are completed, if you mark the calculations as final, CloudLex intuitively gives recovery amounts for all parties.
It’s very important to keep track of all firm-wide cases and allocate resources accordingly. CloudLex’s settlement calculator for personal injury firms can help you with this by allowing personal injury attorneys to use firm-wide reports to analyze settlement amounts, outstanding amounts, total paid amounts, demands, and offers. You can also look at closing dates so that your team can follow up on time. Sign up for a free CloudLex demo today to see how the settlement calculator can help your firm.