Cost recovery policy and plan
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Transcript of Cost recovery policy and plan
Cost Recovery: Creating a Policy &
PlanA NPCI Webinar
September 30, 2009
Cost Recovery: Creating a Policy & Plan
Today’s Speaker
Nina Platt Principal Consultant
Nina Platt Consulting, Inc.
Cost Recovery: Creating a Policy & Plan
Agenda
• Developing a policy that outlines the what, when and how of cost recovery
• Developing a cost recovery plan and procedures that detail how the policy will be implemented
• Creating and implementing a cost recovery communication plan
Cost Recovery: Creating a Policy & Plan
First Course of Action
Quit waffling
Decide
Cost Recovery: Creating a Policy & Plan
Cost Recovery Policy
• Based on – Firm’s overall financial goals– Cost of contracts or subscriptions in place– Firm culture– Client response
Cost Recovery: Creating a Policy & Plan
Cost Recovery Policy Elements
• Firm will invoice clients for online research expense including ...[list resources could be a separate document]
• Exceptions to the policy must be approved by …
• Engagement letters must include ….[again, a separate document could be used]
Cost Recovery: Creating a Policy & Plan
Cost Recovery Policy Elements
• Discounts will be applied as follows…• The following resources will be provided to
the client at no cost ...• Training will be required for the following
resources including refresher courses on a [ … ] basis
Cost Recovery: Creating a Policy & Plan
Cost Recovery Policy Elements
• Certification will be provided for those who attend …
• Individuals will be required to make corrections to disbursements that do not have a correctly formatted or incorrect client/matter numbers upon request.
Cost Recovery: Creating a Policy & Plan
Policy Discussion
• Do any of you have a policy in place now? If so, can you briefly describe it?
• Other questions or comments?
Cost Recovery: Creating a Policy & Plan
Cost Recovery Strategy/Plan
• What goals do you have for recovery?• Who will participate and what roles will
they play?• What will your process be?• How is disbursement done?• How will you track your success?• When will you review for the need to make
changes?
Cost Recovery: Creating a Policy & Plan
Cost Recovery Strategy/Plan
• Goal(s)– What resources (contract vs. subscriptions)– What % of cost will be disbursed to clients– What will be discounted or made available
without cost– How the budget is created– Communication will be transparent
Cost Recovery: Creating a Policy & Plan
Roles
• List individual positions taking part in the process
• Describe each role• Note any special task for each
Cost Recovery: Creating a Policy & Plan
Process Documentation
• Document workflow between those involved
• Include specific tasks for each• Be as detailed as possible when
describing tasks• Include process for creation of
engagement letters
Cost Recovery: Creating a Policy & Plan
What to Include in Procedures
• Title of procedure• Who’s involved• Knowledge needed• Supplies• Time needed to complete• Steps to take• Conclusion
Cost Recovery: Creating a Policy & Plan
Tips for Writing Procedures
• Create steps as numbered lists– limit to 10 • Limit each step to one task• Put conditional info first• Use action verbs• Provide only the information needed to
complete the task• Provide workflow or play script• Refer to related procedures if necessary
Cost Recovery: Creating a Policy & Plan
Disbursements
• Weekly vs. Monthly vs. Quarterly• Vendor usage statements• Use of other cost recovery tools
– Client/Matter validation– Exception management– Usage reports
Cost Recovery: Creating a Policy & Plan
Strategy/Plan/Procedures Discussion
• Have you documented your strategy, plan and procedures?
• What roles do partners, accounting and the library play with cost recovery of online legal research at your firms? Is it working?
• Other questions or comments?
Cost Recovery: Creating a Policy & Plan
Communication Plan
• Use the 4 P’s of Communication– Purpose - Why– Picture - What– Plan - How– Part - Who
Cost Recovery: Creating a Policy & Plan
Internal Communication
• Announcement of policy by management committee
• Explanation of plan by library director / accounting director / executive director
• Use various formats to introduce plan– Email, meetings, individual visits, small groups,
orientation
• Link plan to policy (handouts, intranet links, etc)
Cost Recovery: Creating a Policy & Plan
External Communication
• Existing Clients– Billing partner has responsibility– Library/Accounting can provide materials
• Policy• Talking points
• New Clients– Engagement letters– Additional materials
Cost Recovery: Creating a Policy & Plan
External Communication
• Vendors– Goal to provide cost effective research – Provide copy of policy– Tell them you expect them to act as partner in
recovery– Work with them to form their communication
to researchers
Cost Recovery: Creating a Policy & Plan
Talking Points
• One to two sentence description of policy • Goal is to provide most cost effective
research through training• Value of online research
– Provides substantive research– Saves time– Includes sources directly related to matter
Cost Recovery: Creating a Policy & Plan
Talking Points
• Discounts• Free resources• Exceptions
Cost Recovery: Creating a Policy & Plan
Communications Discussion
• Do you have any communication experiences that worked well? Are there any recommendations you would like to make based on those experiences?
• Other questions or comments?
Cost Recovery: Creating a Policy & Plan
Tracking Success
• Determine audience– Management committee, administrators, group
heads, individuals, etc.• Define metrics• Develop reports• Create reporting schedule • Build in feedback/response • Adjust tracking and/or make change to policy
and plan
Cost Recovery: Creating a Policy & Plan
Conclusion
• Cost recovery requires a policy and plan to be successful for the long term
• Planning should include a strong communication component
• Tracking the results of putting a Cost Recovery Policy & Plan in place is essential to demonstrate ongoing benefits
Cost Recovery: Creating a Policy & Plan
Contact Us for More Information
• Nina Platt Consulting, Inc. (NPCI) [email protected]
Call us: 612-235-7485
Visit us on the web: www.ninaplatt.com
Read our blogs: http://strategiclibrarian.com
http://lawfirmintranet.com
http://electronicresourcereview.wordpress.com