Date: March 20th, 2018 10:02 PM Author: Abnormal diverse space
No Fault claims are bulk settled in arbitrations. You bundle $10 million in billables and settle it in one day long arbitration over binders full of bills. Very few cases relatively escape arbitration and go to litigation and those typical involve mills and wild abuse that the carrier wants to see litigation over. The attorney who bulk settles $10 million in claims will walk away with like $150k in fees. It takes like 2 years to collect the book of business to get to that arbitration. It's profitable but not as insanely profitable as you think. In NYC like 4 firms split like 80% of the NF work between them. The big NF firms each represent like 5,000 medical practices and hospitals -- EACH. They are pretty fucking huge operations. When a claim is handled outside of arbitration the fees are far more lucrative. But like 80% end up in arbitration. Before 2007 or so it was the other way around and they REALLY made bank.