Alternative Fee Pricing Puts Focus on Client Satisfaction

Many law firms are offering legal fee alternatives to the traditional billable hours, thanks to a new breed of law firm executives known as pricing directors. Value-based pricing is the new billing model where the focus is on producing outcomes such as client satisfaction and repeat business instead of racking up hours to succeed. “Change your firm’s conversation from hours and revenue, to revenue and profit," Toby Brown tells ABAJournal.com. "If you succeed in doing that, then everything else follows.”