As the economic crisis of COVID-19 that has led many to cut employee salaries and benefits and furlough or lay off staff drags on, Record Retrieval Solutions has outlined ways that law firms in the U.S. can reduce costs.
Record Retrieval Solutions state there are five cost-saving measures to consider when re-evaluating finances negatively impacted by the pandemic.
Among these, firms might start by reducing office space-related expenses and considering letting staff work remotely. By renegotiating the monthly rent in exchange for extending a lease or reducing the space, subleasing or renting out specific areas, like conference rooms, the article states law firms may be able to save cash on what is often considered the second largest fixed expense for most firms.
Allowing employees to work remotely will likewise enable firms to downsize office space or let it go entirely and may also save on expenses related to supporting in-office staff, Record Retrieval Solutions states.
According to the report, law firms can also embrace cloud services to streamline operating costs, refine the company's marketing strategy and outsource time-consuming tasks to allow employees to focus more on revenue-generating tasks.
Partnering with Record Retrieval Solutions, firms may request and retrieve medical records as well as radiology images through their online portal. Other services include organizing, sorting and categorizing records, creating record indexes, delivering records and providing medical record summaries, treatment chronologies and other reports.