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English arrow For Law Firms arrow Firm & Practice Management arrow Using Alternative Billing Methods Effectively in Your Practice

Using Alternative Billing Methods Effectively in Your Practice


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Price: $50.00 -
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Course #: ENPA0073R


Description

There has been a recent surge in interest in value pricing and alternative billing due to problems encountered by both lawyers and clients with the more ‘traditional’ hourly billing system, which rewards inefficiency, makes clients suspicious, and can create ethical dilemmas.

In 2002, the American Bar Association published its Commission on Billable Hours Report.  Supreme Court Justice Stephen Breyer wrote in the Foreword to the Report that among other problems, billable hours contribute to the work-life balance problems. While ‘leveraging’ associates and other staff has helped to prolong the billable hour system, even that practice may have reached its limit. Add to that increased competition and the economic plunge, and there is more and more pressure on lawyers to come up with billing alternatives.

One way to compete in this marketplace is to offer alternative billing arrangements that are more attractive to and predictable for clients.  This webinar will provide some practical advice for introducing alternative fee arrangements into your practice and discussing them with clients, and will include examples of how lawyers are using those arrangements successfully in a wide range of practice areas.

What you will learn:
  • Alternatives to the billable hour
  • How to talk to clients about the switch to alternative fee arrangements
  • Ascertaining and managing the client’s expectations
  • Identifying the client’s desired result
  • Establishing value
  • The importance of defining scope
  • How to combat ‘scope-creep’: using supplemental services agreements
  • Managing engagements under an alternative billing system
 
Recorded:  10/14/09

 

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