Mass tort law firms are changing their post-settlement process. Milestone’s technology platform, Pathway, has digitized settlement distribution – saving attorneys time and money and getting their clients paid faster. This innovation recently earned Milestone multiple prestigious awards, including a spot on the 2023 Inc. 5000 list of fastest growing companies in America and the 2023 MTMP Legal Services Innovation Award. Here’s how it works.
Through Pathway, claimants are guided through three steps: signing their digital closing statement, reading about their settlement planning options, and choosing a payment method. They can receive their settlement funds digitally via Zelle, PayPal, Direct Deposit, or a prepaid Mastercard designed for the unbanked and underbanked. Once they complete the three steps, claimants receive their settlement funds in mere days. Pathway replaces the traditional disbursement system of mailing closing statements and paper checks, which can take months, if not years.
On top of speeding up payment, Pathway provides claimants with the often-missed opportunity to consider whether they would benefit from specialized financial planning. If they have government benefits or want to plan for the long term, there’s a button to request a meeting with a settlement planning consultant. And if they have questions about using the platform, a solutions team is there to help. Every Pathway team member who works with claimants is trauma informed.
Digitizing the distribution process is a win for mass tort law firms, too. For one, it frees up firms from the administrative burden of spreadsheets, mailings, and phone calls after settlement. Meanwhile, the Attorney Portal provides real-time data about fee payments, clients’ payments, and the status of unpaid cases. So, law firms can spend more time practicing law while accessing the progress of disbursement – whenever and wherever they want.
Interested in learning more? Request a live demo to see Pathway in action today.