Clocking Off from Billable Hours

⏳ Are billable hours past their sell-by date?

The legal industry is known for tradition, but one area that's shifting is pricing. More clients are questioning the value of the billable hour and looking for models that focus on transparency and outcomes.

This is where value-based pricing comes in – where lawyers charge for results, not just time spent. For clients, it makes pricing easier to understand. For law firms, it’s about shifting focus from clock-watching to impact and efficiency.

But such a shift isn’t always simple. Fixed fees work well for some cases, but complex, unpredictable ones? Not so much. And then there’s the risk of undervaluing expert advice and time.

But the trend’s growing. Clients want flexibility and a focus on outcomes, not just hours logged. 

As legal pricing expert Shaun Jardine puts it, “The focus is about thinking what people actually buy. When I ask lawyers what clients buy from them, they’ll often say, ‘my expertise’ and it’s not. They’re buying the outcome.” 💬

And that’s the real challenge. Firms aren’t just selling time, they’re selling results.

So, is the billable hour still fit for purpose, or is value-based pricing the future?

If you’ve made the shift or are considering it, what’s been the biggest challenge? 

🔽 Comment below and let us know your thoughts 🔽