Market Areas > Practice Management > Flat Fees

Managing Flat Fees for Profitability and Value

Course Description:

The world may be round, but law clients prefer flat…

Law firm billable hours are being maimed in the media, bullied in the blogosphere and catapulted out of client conversations at an alarming rate.  Boutique firms are popping up and prospering amid the client-driven push away from the perceived inefficiencies of what many call an “old school” billing model.

With clients clamoring for value and predictability, flat fees are being implemented across the industry for everything from litigation to family law.

In order to succeed in this challenging economic environment and remain competitive, law firms of all sizes, must be armed with an understanding of billing beyond hourly rates and be ready to offer flat fee billing.   Your clients are doing their homework, are you?

With this critical “need-to-know” audio program on CD, leading industry experts, Pamela H. Woldow of Altman Weil and Matthew Homann of LexThink, will guide you through:

• Best practices for setting and managing flat fees at your firm
• Key techniques for getting started - research, research, research
• How flat fees make your firm more marketable and how to get the word out
• Strategies to stop secret hour counting and implement firm-wide flat fee thinking
• The culture conundrum - moving beyond the fear of flat fees
• How to choose matters that make sense under a flat rate system
• Why to consider revamping lawyer performance measurements to match new billing procedures

Featured Faculty:

Matthew Homann, Founder, LexThink

LexThink founder Matthew Homann is a lawyer, mediator, writer, speaker and entrepreneur who’s built an international reputation as an innovative and passionate thinker about changing the practice of law in ways that benefit both lawyers and clients.

An idea collector his entire life, he shares many of his outside-the-box ideas on legal innovation in his award-winning blog, the [non]billable hour.

Described as an “Innovational Speaker,” Matthew regularly talks about innovative billing strategies, creative marketing techniques, proven customer-service principles, and cutting-edge ideas from other industries and professions with audiences around the world.

As a facilitator of conferences, retreats and brainstorming workshops, he teaches people to tap into their own creative reserves, see things a different way and make dramatic improvements in their businesses and their lives. He’s worked with both large and small law firms, as well as with large organizations including McDonald’s, Microsoft, HP, British Petroleum, Sungard and the U.S. Marine Corps.

Matthew lives in St. Louis, Missouri. He has a six year-old daughter named Grace.

Pamela H. Woldow, Principal, Altman Weil, Inc.

Pamela H. Woldow is a principal of Altman Weil, Inc. She works on areas of strategic and operational importance to both legal departments and law firms, focusing on improving the delivery of high-quality and cost-effective legal services, selecting and managing outside counsel, convergence programs, litigation management, and all aspects of the counsel-client relationship.

Prior to joining Altman Weil, she was a partner and the National Practice Leader for Litigation Services for Smart and Associates, a national accounting and consulting firm. Her career has also included positions as Chief Counsel of the Pennsylvania Department of Insurance, Deputy General Counsel of Pennsylvania, and Associate General Counsel and Director of Risk Management and Litigation Management for a $2 billion public financial services corporation. Earlier, she handled complex commercial and environmental litigation with Duane Morris and Manko, Gold & Katcher.

MONEY-BACK GUARANTEE:

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

CLE:

CCM provides audio conference attendees with CLE credit processing services. To expedite CCM processing your CLE request, please complete and submit the evaluation form available from CCM at the conclusion of the audio conference. It will be necessary to enter the following information: name of each attorney requesting CLEs with full contact information, including e-mail address, bar number, and the state in which the attorney wants credits. Each attorney requesting credits must submit an evaluation.

Please be advised CCM audio conferences are subject to approval from each CLE issuing organization and approval is not guaranteed (state bar associations in Delaware, Indiana, Kansas, Ohio, and Pennsylvania do not grant CLE credits for audio conferences). The approval process takes approximately 6 - 8 weeks for most organizations but can take as long as 3 - 4 months. You will be notified via e-mail with the final status of your CLE application.

Any person applying for CLE credits must attend the audio conference from start to finish (attendance will be taken for compliance reasons). Requests for CLE credits must be received no later than two weeks following the conclusion of the audio conference or live conference. CLE credits are not available for CD recordings.

If you have any questions regarding CLE credits, contact Jill Adler at 631.368.2082 x 21 or jill.adler@meeting-matters.com.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.