Cost recovery policy and plan

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Cost recovery policy and plan

  1. 1. Cost Recovery: Creating a Policy & Plan A NPCI Webinar September 30, 2009
  2. 2. Cost Recovery: Creating a Policy & Plan Today’s Speaker Nina Platt Principal Consultant Nina Platt Consulting, Inc.
  3. 3. 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
  4. 4. Cost Recovery: Creating a Policy & Plan First Course of Action Quit waffling Decide
  5. 5. 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
  6. 6. 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]
  7. 7. 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
  8. 8. 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.
  9. 9. 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?
  10. 10. 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?
  11. 11. 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
  12. 12. Cost Recovery: Creating a Policy & Plan Roles • List individual positions taking part in the process • Describe each role • Note any special task for each
  13. 13. 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
  14. 14. 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
  15. 15. 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
  16. 16. 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
  17. 17. 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?
  18. 18. Cost Recovery: Creating a Policy & Plan Communication Plan • Use the 4 P’s of Communication – Purpose - Why – Picture - What – Plan - How – Part - Who
  19. 19. 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)
  20. 20. 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
  21. 21. 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
  22. 22. 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
  23. 23. Cost Recovery: Creating a Policy & Plan Talking Points • Discounts • Free resources • Exceptions
  24. 24. 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?
  25. 25. 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
  26. 26. 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
  27. 27. Cost Recovery: Creating a Policy & Plan Contact Us for More Information • Nina Platt Consulting, Inc. (NPCI) nplatt@ninaplatt.com 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

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