With flat fee billing, the goal is to become more efficient, not less efficient.
Not exact matches
With Plastiq, you can pay nearly any bill, including small businesses or individuals, with a Visa, MasterCard or AMEX credit card for a flat 2.5 %
With Plastiq, you can pay nearly any
bill, including small businesses or individuals,
with a Visa, MasterCard or AMEX credit card for a flat 2.5 %
with a Visa, MasterCard or AMEX credit card for a
flat 2.5 %
fee.
We have already started to see attorneys change
billing to more of an «a la carte»
flat fee structure, and as young attorneys get more comfortable
with what certain jobs take to complete, I expect we will see more and more of that.
With so many inherent problems with hourly billing, a good question to ask is: Why continue with it when there are other pricing options — like flat fees?&ra
With so many inherent problems
with hourly billing, a good question to ask is: Why continue with it when there are other pricing options — like flat fees?&ra
with hourly
billing, a good question to ask is: Why continue
with it when there are other pricing options — like flat fees?&ra
with it when there are other pricing options — like
flat fees?»
If attorneys avail themselves of the advances in computer technology in the past decade or two, they can more easily come up
with flat fees or other alternative
billing arrangements — and continue to make a profit, Calloway says.
The main concern
with flat -
fee billing is that «if you're skimping on the work, the result might not be as good.»
Now lots of lawyers don't
bill by the month or by the week or by the year, lots of lawyers
bill either
flat fees or hourly
fees, but during that time you still need to make sure that person sees values and if you're going to have a relationship
with that client over time, you need to make sure that they see value in staying connected to you or staying friends
with you and maybe that's as simple as doing a monthly or a weekly newsletter like Noah does, but you need to make sure that they believe that it is valuable to stay in your circle so that their ready to hire you when it's time to hire you.
What is your experience
with flat fees — and what advice would you have for those who seek to implement an alternative
billing approach?
The Barreau argues that law firms using the hourly
billing method are not serving the interests of the partnership
with clients, that the firms should be doing a better job serving the interests of clients whether those interests lie in the efficiency of a fixed or
flat -
fee structure, or the predictability of a
fee that's conditional on outcome or duration.
While hourly
billing is the mainstay of T&M's relationship
with its clients, the firm has
flat -
fee services as well.
If you're lucky, there's another person there who has tried it and maybe is even
billing flat fees and then you can have maybe a drink
with them later and have a productive conversation but that automatic defensiveness that that's not how we do it, it won't work, is one of the most toxic things that I see and it doesn't mean that you have to adopt everything but I feel like a willingness to engage
with new ideas or even just other ideas is probably the one biggest most important thing that lawyers can do and learn how to test those ideas, bounce them off of people who will listen and engage
with them too.
From day one, we started
with hourly
billing,
flat fees, both of which are fairly standard in our kind of legal practice but we wanted to try something new.
Our revenue growth comes from two sources: new clients fed up
with the value - insensitive system of hourly
billing, and increased efficiency driven by our
flat -
fee system.
Chrometa — Even
with the trend towards
flat fees and other alternative
billing arrangements, the billable hour is not dead yet.
Our estate planning packages are
billed at a
flat fee rate so you know the cost upfront and we utilize a secure client portal to communicate and exchange documents securely anytime of the day or night
with our clients.
Launched in early 2016 in Upper Tantallon, the new firm provides upfront and
flat fees and provides its clients
with detailed, itemized
billing information.
Using MyCase's streamlined legal
billing features,
with the click of a button all unbilled time and expense entries, including
flat fee balances, are pulled into a legal invoice.
Here's a revelation: clients will care less about the mechanics of your invoice, whether you
bill by the hour, by the word or offer
flat fees based on astrology charts, so long as the value delivered is commensurate
with the price paid.
Some alternatives also reduce management headaches and surprises:
with a
flat fee, retainer, or contingent
fee, there are no hourly
bills to review and no concerns about over-staffing (indeed, the client needs to make sure the staff is competent and sufficient).
How can I align fixed
flat fees that I charge clients
with contract lawyers» hourly
billing practices?
I disagree
with the notion that firms selling
flat fee legal services are selling solutions to legal problems, while those
billing hourly are not.
FreshBooks has an estimates feature that can help minimize that friction
with clients whether you're
billing on a
flat or fixed -
fee basis or
billing by the hour.
But
with the rise of the entrepreneur lawyer, legal technology and a more sophisticated legal consumer,
flat fees may become the new normal for legal
billing in the near future.
For employers
with more than 100 full time employees, agency
fees are an add - on to the monthly
billed insurance rates or a
flat fee payment made by employer on a monthly or quarterly basis.
No more having to worry about unforeseen monthly taxes, surcharges and
fees with T - Mobile's One for all unlimited plan, so instead of paying a claimed average of $ 210.70 for a family of four on Verizon's «confusing,
fee - filled
bills», you can rest assured you'll be coughing up a
flat $ 160 here.
With flat fees, the professional is paid one amount and won't
bill for extra time.
Others may
bill from the get - go
with an hourly rate or
flat fee if they think the consultation will entail considerable time.