Winning Alternatives to the Billable Hour: Strategies That Work (Second Edition)
By James A. Calloway & Mark A. Robertson
Lending Library Number: 59
NOTE: Due to licensing restrictions, the diskette that accompanies this book is not available for loan.
Lawyers and clients alike are desperate to find a new and fair way to calculate the cost of legal services.
Hourly billing is popular with many firms, but it has the perverse effect of:
- making less-efficient lawyers more profitable for their firms;
- penalizing firms for being more productive due to technology
- alienating clients interested in finding solutions-not buying hours; and
- forcing lawyers to work unreasonably long hours, night after night, trying to fill billable requirements.
Whether it's called alternative billing, value billing, fixed-fee billing, or task-based billing, the time has come to examine how to fairly charge for legal services. By reading Winning Alternatives to the Billable Hour, you'll discover it is possible to change from hourly based billing to a system that recognizes your legal expertise, as well as your efficiency, and deliver winning billing solutions for you and your client. You'll learn how, by changing your billing approach, you can gain a strategic edge over others by demonstrating flexibility and imagination in your fee approach.
Through the chapters in this book, you'll learn how to initiate and implement different billing methods. In this updated second edition, you'll discover:
- the underpinnings of law firm billing and how it relates to client value
- how clients perceive value and how it relates to technology
- what alternative billing methods are currently available to you and the advantages and disadvantages of each of them
- how to explain-clearly and persuasively-the economic and client service advantages in changing billing methods
- how to best implement an alternative billing method at your firm that makes sense for you and your clients
- how to communicate these changes to your clients
- how to evaluate the systems you have developed and make adjustments as you go
- and much more!
Also included is a helpful appendix that contains a goldmine of useful forms, proposals, and templates to make alternate billing systems easier to implement at your firm, written in basic language you can use in drafting your own agreements. You'll find numerous fee agreements, alternative billing proposals, and guidelines created by lawyers who have actually implemented different billing methods at their firms. In addition, all the valuable forms, templates and proposals can be found on the accompanying diskette, for ease in implementation.
The book is written for all lawyers, in firms of all sizes-solos included-and provides valuable examples, practical tools, and tips throughout. The time has come to free your firm from the quagmire of hourly billing and transition to billing based on client value. If you are trying to decide how to implement a changed approach to billing and pricing, this book will guide you through some of the most important concepts and techniques that thriving law firms have been using successfully for years. The time is now to cut your bond to hourly billing, and buy your copy of this important book today!