The billable hour is the standard fee model used by law firms all over the world. However, some practices are turning to a new flat-fee rate structure. These flat-fee rates better benefit both the clients and the law practices. Even in a flat-fee structure, attorney billing software is useful for analyzing costs, tracking productivity and billing complex cases.

1. Using A Flat Fee Billing
Structure? Why You Still
Need Attorney Billing
Software
Presented by:
LexisNexis
http://www.lexisnexis.com

2. Flat Fee Billing Vs Billable
Hours
n The billable hour is the standard fee model used by
law firms all over the world.
n However, some practices are turning to a new flat-fee
rate structure.
n These flat-fee rates better benefit both the clients and
the law practices.
n Even in a flat-fee structure, attorney billing software
is useful for analyzing costs, tracking productivity and
billing complex cases.

3. Advantages Of Flat-Fee Billing
n Many cases are routine, which means
an attorney can quickly look at a case
and estimate the time needed to
complete the case.
n In these cases, a flat-fee makes sense.
Taking the time to enter the hours into
the legal billing software isn’t
necessary, but is helpful for tracking purposes.
n In cases like these, why not negotiate a flat-fee?

4. Advantages Of Flat-Fee Billing
n Flat fees lead to more efficient legal operations and gives
the firm a chance to save time and money.
n If the practice gets the case finished more quickly, they can
take on more work and make more money.
n Clients prefer a flat-fee schedule because there aren’t any
surprises or billing disputes.
n The firm won’t have to produce attorney billing software
reports to back up disputed fees.

5. How To Instill Flat-Fee Billing
n New legal billing software makes flat-
fee billing popular, due to the ability to
analyze costs.
n Firms can now look at a similar case
and estimate the time and labor
necessary for the new case.
n Experienced attorneys can usually
calculate accurate and fair fees for all
but the most complex cases.

6. Does Flat-Fee Billing Work For
All Cases?
n Not all cases should be charged on a flat-fee basis.
n Some will require traditional billable hours that are tracked
with attorney billing software.
n Some cases can combine a traditional billing structure
alongside flat-fee structure for less complex portions of the
case.
n The most important thing is to consider billing an open
negotiation with a client. The last thing a firm wants is to
alienate a client and lose future business and referrals.

7. Tracking Hours With
Flat-Fee Billing
n Attorney billing software is still valuable even if most of a
firm’s cases fall under flat-fee billing.
n The software allows the firm to monitor the hours worked
and evaluate the efficiency of the law practice.
n The software also helps determine if the current fees are
appropriate for certain cases.
n As the firm becomes more efficient, it may be able to lower
fees or increase case load.
n Alternatively, a firm can raise prices if it finds that cases
were priced too low.

8. Transitioning To Flat-Fee Billing
n Firm leadership should expect
that the transition to flat-fee
billing is a gradual one.
n As more clients and attorneys
become used to flat-fee
billing, the firm can increase
the cases that use this fee
structure.

9. Flat-Fee Billing: Win-Win
Situation For Client And Firm
n Attorneys have the motivation to work more
efficiently, meaning now the firm can take on more
work and clients get a greater value for their dollar.
n Legal billing software helps attorneys analyze
costs, track productivity and bill more complex
cases to the benefit of both client and practice.

10. About LexisNexis
n LexisNexis is a leading provider of content-
enabled workflow solutions designed specifically
for professionals in the legal, risk management,
corporate, government, law enforcement,
accounting and academic markets.
n The company can customize its products to the
needs of the modern law firm and offers unique
features that generic software solutions cannot.