If you need another reason to think seriously about value-based billing, consider the opinions of several of the most well-respected voices on technology and the future of the legal profession. In the March issue of the ABA publication, Law Practice, current and past ABA TechShow chairs shared their perspectives on how technology will affect law firms’ billing practices in the coming years. Here’s a sampling of their responses.
James A. Calloway, Director of the Oklahoma Bar Association’s Management Assistance Program, 2005 ABA TECHSHOW chair: “[O]ne of the benefits of technology is being able to do things automatically and quickly. That has the potential to put real pressure on the firm that insists on billing by hours instead of by tasks or projects.”
David J. Bilinsky, Practice Management Advisor and staff lawyer for the Law Society of British Columbia, 1998-99 ABA TECHSHOW chair: “[F]ixed fee and value-billing arrangements offer a more open-ended revenue model that is not tied to time.”
Sharon Nelson, President of Sensei Enterprises, Inc., 2006 ABA TECHSHOW chair: “I definitely think that value-based billing will become the norm.”