By Richard C. Reed
Lending Library Number: 8
Say good-bye to hourly billing
Learn how methods, other than straight hourly billing, can present long-term benefits for your firm. You can gain a strategic edge over other counsel by demonstrating flexibility and imagination in your fee approach; achieve justifiable fees that recognize your legal expertise, as well as your efficiency; and deliver billing solutions that engender client trust and demonstrate a willingness and ability to be more cost-conscious.
Includes the pros and cons of billing methods (a special chapter for litigators,the original skeptics) and sample agreements! 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 cutting-edge law firms are using successfully.
You'll get a recap of the 14 generic billing methods; when to use them; how predictable they are in total fee; their incentives for efficiency; and how the client perceives or recognizes value in these methods.
A detailed discussion on the fixed fee, the favorite alternative billing method,including an analysis of the process to go through to make certain you consider all the costs in providing your services. An entire chapter is devoted to litigators, including the 8 steps litigators can take to move away from straight hourly billing toward some other billing method. Learning to think "in phases" to make it possible to foresee, with reasonable accuracy, the problems and costs associated in a complex litigation matter.
Billing Innovations also includes examples of new billing methods with copies of actual representation agreements used by progressive lawyers.