Observations on an Industry in Transition
“Data – accurate, transparent, accessible data – is critical from the start to finish of the mass tort process.”
MTMP Spring 2023 was a big success for thousands of lawyers, paralegals, and others in the mass tort sector. Six dynamic tracts offered superb content from industry-leading experts. Three tracts were particularly valuable:
“Business of Law” addressed innovations in digital marketing, using AI and new technology, strategies for case management, risk management and capital partners.
“Nuts & Bolts of Mass Torts” featured strategies to getting off the ground, managing the MDL docket and SOLs, case acquisition, jurisdictional filing, and settlement strategies.
“Trial Skills In Mass Torts” dealt with essential trial skills, winning the “un-winnable” case, getting trial ready, and giving a winning opening.
In virtually every presentation the universal theme was clear: transparent, accurate data, easily accessible for reporting and decision making, is the key to a successful, profitable mass tort portfolio.
For example, the “Business of Law” speakers demonstrated how accurate, transparent reporting to a firm’s stakeholders is paramount to the firm’s overall success and optimized performance. Well-structured data allows cutting-edge analytic tools to drive insights to become better organized, more efficient, and scalable, reducing legal and financial risk, improving margins, and delivering stronger client experience.
“Nuts and Bolts of Mass Torts” and “Trial Skills in Mass Torts” presentations spoke to the heightened importance of using accurate, transparent, and reportable data to allow lawyers and their firms to properly manage their client’s goals in the face of their adversaries.
The ability to optimize the capabilities of the firm’s partners and service providers throughout the lifespan of any mass tort portfolio also rides on how well data can be securely exchanged, evaluated, and reported. Law firms need accurate, transparent, and reportable data to properly report to judges, courts, counsel, capital partners, lien holders, and other outside interests who also work to make sure the client’s claims are properly adjudicated and resolved.
The mass tort industry is truly an exciting place to be, and MTMP Spring 2023 proved to be the epicenter of that excitement. Whether you’re ensuring your clients have the best possible experience, your available capital is optimally deployed, or your litigation strategy is razor sharp, near or real time access to accurate, reliable data is the key. If these goals are important to your firm, let’s connect. At Case Works, data transparency and accuracy are two of our fundamental commitments to our law firm partners.
Till next time.
-Bill
