Implementing Alternative Billing in your Law Practice
In this episode of New Solo, host Adriana Linares talks with Vandenack Weaver LLC founder Mary Vandenack about lawyers using alternative billing models. Mary defines alternative billing as any way of charging for a law firm's services that isn’t the billable hour and talks about her experiences breaking away from a large firm and starting her own. She shares an interaction with a client that led her to consider alternative fees and explains that a common fear among lawyers when discussing alternative billing is under charging for your services. Mary advises attorneys to analyze their process, break those methods down into pieces, and to then price those pieces accordingly. She provides examples of different styles of alternative billing and closes the interview with an analysis of their pros and cons.