One of the most deplorable aspects of the law firm industry today, for both the attorney and the client, is the billable hour. In recent years, the billable hour has seemed to more closely resemble a ubiqitous mass manufactured widget than a true measure of the value of legal services. Yet the billable hour remains ingrained in the industry, and the relationship between many firms and clients unfortunately revolve around it, creating numerous problems for both.
Hourly law firm billing creates a bold, red question mark in nearly every column of a healthcare provider's budget, and law firms go boom and bust depending on how much trouble the provider is in: it's a boom for the lawyer when an investigator shows up at the provider's door asking questions... it's a bust for the lawyer when everything is going well for the provider. The billable hour is also typically unpleasant for most attorneys, who at some large law firms are expected to generate thousands of billable hours a year, a feat that can easily take a serious toll on a lawyer's health, particularly when coupled with the time required for mandatory participation in firm marketing efforts, necessary continuing education and typical office administrative functions. Too often, the result is padded time sheets and dissatisfaction, as well as a questioning of the integrity of the legal profession. Fortunately, alternative fee arrangements to the billable hour do exist, and they can significantly benefit both attorney and client. Alternative fee arrangements can take many forms, including for example per-project fees, milestone fees, percentage of transaction fees, etc. The alternative fee arrangement preferred by John Little, Attorney at Law, PC, for healthcare provider clients is an annual agreement for all necessary legal services within a defined scope, including one or more of the following categories of services:
For the client, alternative fee arrangements offer budget predictability, and they can drive down legal costs. Regardless of the form taken, what alternative fee arrangements all have in common is a move away from the billable hour. They enable a client to pick up the phone, call their attorney and ask a question without fear they'll end up with a lengthy timesheet and an elaborate project recycled through associates more concerned about billable hour quotas than efficiency.
To inquire about an alternative fee arrangement legal services agreement for your practice, contact John Little, Attorney at Law, PC. |
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No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. Please note that this website is intended to deliver educational and informative content only and that John Little, Attorney at Law, PC, does not perform legal services without a written attorney-client agreement covering the scope of services to be rendered. For more information, contact john Little, Attorney at Law, PC. |
Alternative Fee Arrangements |