Legal Bill Review
From Wikipedia, the free encyclopedia
Legal Bill Review (LBR) refers to process of reviewing and analyzing legal bills against any billing guidelines, service level agreements, applicable laws and other generally accepted standards. LBR plays a vital role in litigation spend management through the review and analysis of law firm invoices. LBR is typically accompanied by claims management processes, often outsourced to third parties. LBR is seen as a standard practice among larger insurers and third-party administrators.
One of the key advantages of LBR is litigation cost savings by flagging and reducing invoice billing entries against non-compliance with the billing standards. LBR acts as a preventive measure when conducted prior to payment of a legal bill. However, for legal invoices already paid, it acts as measure to recover any excess amount paid to the law firms.