Silva Legal Services has secured new funding which will allow it to offer law firms the option of deferred payments of up to two years for medical record pagination and collation.
With over £500,000 of new capital, the specialist medico legal company has said that it can now increase its flexible working and payment arrangements with catastrophic personal injury and clinical negligence lawyers to improve their own profit margins.
Silva Legal Services already offers valuable profit margins to clients, access to experienced Medico Legal professionals and an open door policy for those looking to work more flexibly with their outsourced partner.
“Deferred payment terms are increasingly a must have for many clinical negligence departments to help generate further complex caseloads and manage what could become increasingly tighter margins going forwards,” said Geoff Silva, the company’s managing director.
“Competition in the clinical negligence market continues to rise but as the better firms will always be busy, they need to stay financially nimble and attract talent – neither of which can be achieved without financial and service flexibility from outsourced providers.”
Silva added that the funding was “hugely exciting” for the business.
“While we already have an amazing team of nurses, midwives and dentists, the funding and increased revenue will help us expand the team from 15 to 20 experts, assisting more people injured through no fault of their own,” he said.