Not exact matches
You have up to EIGHT hours each month of time at an agreed reduced monthly
rate (saves you $ 2,000 each month based
on regular
hourly billings).
They sometimes agree to spread upfront retainer payments for large projects over several months — and then spend down the retainer based
on the
hourly billing rate.
Modern firms can no longer rely
on solely
hourly rate billing where the «expense
rate» can be uplifted by 50 % to guarantee a profit.
Plaintiff did not submit any
billing records, but relied
on six charts showing the litigation phases coupled with
hourly rates / total hours for each working professional.
If the
bill is questioned, the lawyer would be hard put to justify a
bill of $ 7,500 based
on time spent
on a learning situation at an
hourly rate that called for a certain skill and experience level.
But should they recover the costs as a separate line item expense
on their
bill, or as Solomon suggests, treat the cost as overhead and roll it into an
hourly rate?
I know some professionals, who
bill on an
hourly rate basis always
bill 100 % (Premium pricing) for their time while others «write off» unproductive time (Cost - effective pricing).
The trial court awarded $ 66,627, finding the requested
hourly rates were reasonable based
on the judge's own perception that fifth year associates in L.A. firms
bill between $ 390 - $ 600 per hour.
In this hybrid of the
hourly rate system, instead of specific
hourly rates for individual fee chargers, one
rate is applied to all hours
billed on a matter regardless of whether it's for a partner, associate or paralegal.
What if, for example, you have a law firm that operates largely
on a contingency - fee model, like a plaintiffs» personal injury firm, as opposed to
on an
hourly billing rate model?
«None of this work will be
billed at
hourly rates but rather will be competitively priced through fixed - fee arrangements that will vary depending
on our clients» requirements.»
In the last blog post, I shared what QuickBooks ProAdvisors Charge for their Services along with the national averages (US) for
hourly billing rates and fixed fees based on the results of the Average Billing Rate
billing rates and fixed fees based
on the results of the Average
Billing Rate
Billing Rate Survey.
Unless otherwise expressly agreed, the fees charged by Dottir Attorneys are based
on the
hourly billing rates applied from time to time.
Overall
billing rates rose 4 %, but firm leaders reported that,
on average, their firms provided discounts
on 21 - 30 % of all
hourly rates.
For purposes of this discussion, we'll employ the
hourly billing model and we'll assume that the
hourly rate charged by a lawyer properly measures the true value of that lawyer based
on his or her skill, knowledge, experience, connections, and access to resources.
The Intuit Average
Billing Rates survey (there's a link the post), has some stats / info on fixed fee vs. hourly b
Billing Rates survey (there's a link the post), has some stats / info
on fixed fee vs.
hourly billingbilling.
We typically
bill our clients
on an
hourly basis, but our
rates tend to be much lower than what law firms usually charge for comparable experience.
You might want to
bill flat
rate matters one way and
hourly on retainer matters another.
It may make sense for everyone simply to
bill that matter
on an
hourly -
rate basis subject to some sort of good faith estimate.
I
bill at a regular standard
hourly rate, unless you request my services
on an emergency matter.
«When
billing, provide enough details to justify the figures — work done, dates done, time spent
on each aspect,
hourly rate» says Senior Costs Judge Gordon - Saker.
[email protected] The article also dwells
on the Real
Rate Report of CT TyMetrix and possible extensions of that company's initiative (See my post of June 2, 2010: hourly rates of US partners from the Report; June 3, 2010: «standard billing rate» is illusory; Jan. 19, 2012: U.S. litigation firms charged a blended rate of $ 385 an hour; Jan. 23, 2012: clear data on the rising rates of law firms as they grow larger; and Jan. 19, 2012: gaps between average billing rates of U.S. litigation associates and partner
Rate Report of CT TyMetrix and possible extensions of that company's initiative (See my post of June 2, 2010:
hourly rates of US partners from the Report; June 3, 2010: «standard
billing rate» is illusory; Jan. 19, 2012: U.S. litigation firms charged a blended rate of $ 385 an hour; Jan. 23, 2012: clear data on the rising rates of law firms as they grow larger; and Jan. 19, 2012: gaps between average billing rates of U.S. litigation associates and partner
rate» is illusory; Jan. 19, 2012: U.S. litigation firms charged a blended
rate of $ 385 an hour; Jan. 23, 2012: clear data on the rising rates of law firms as they grow larger; and Jan. 19, 2012: gaps between average billing rates of U.S. litigation associates and partner
rate of $ 385 an hour; Jan. 23, 2012: clear data
on the rising
rates of law firms as they grow larger; and Jan. 19, 2012: gaps between average
billing rates of U.S. litigation associates and partners.).
It might come as a surprise to most people that it's legal and accepted by our courts to increase the
hourly rate without advising you, or to round up hours to a higher amount, or add
on a «premium» for a lawyer's success in court to a client's
bill.
While some attorneys
bill at an
hourly rate, an attorney working
on a contingency fee will only recover the agreed upon percentage regardless of the time they work.
«Discounts» alone, either as a discount to
hourly rates or
on the final
bill, especially without budgets and staff controls.
My thoughts
on hourly billing are well know, but the criticism of these
rates as excessive misses the point entirely.
4 The growing use of computers also made it easier for firms to prepare and send out
bills (and for clients to evaluate
bills) based
on the simple formula that multiplied the number of hours recorded by the lawyer's
hourly billing rate.
MacLean Family Law files are
billed at an
hourly rate and are dependent
on the lawyer with whom you meet.
In my experience, determining the fee for services that are to be provided
on an alternative basis is difficult without reference to an
hourly billing rate.
Examples of goals could be: (i) increase the number of clients
on my books by 10 %; (ii) increase my active existing client base by 15 %; (iii) increase my annual
billing hours by 10 %; (iv) increase my average
hourly billing rate by 10 %; and (v) improve my hours per client
billed by 10 %.
Sadly, there was no study
on how much clients liked being
billed at two professionals»
hourly rates instead of just one's.
In my small practice, I tell
hourly rate clients at sign - up what I am not going to
bill them for: travel time around town, speaking with them
on the telephone (no matter who makes the call), or writing and reading emails or letters.
Crane discussed a number of alternative fee arrangements including discounted and volume discounts (e.g. 15 per cent
on the standard
hourly rate, for example, when fees
billed exceed $ 100,000 a year), and blended
hourly rates (such as $ 400 / hr blended
rate for all lawyers
on a file or $ 300 / hr for associates and $ 500 / hr for partners), as well as fixed and capped fees.
The Statement Clerks have responsibilities such as applying payments, credits or past due charges, making calculations using
billing software based
on established
hourly rates, applying credits, payments or past due charges, and calculating progress payments considering the percentage of the completed work.
The average
hourly pay
rate for a medical
billing clerk ranges between $ 16 and $ 31 depending
on experience level and location.
However, if more are needed, the client will be
billed a pro-rated fee based
on the mediator's
hourly rate.