Technically Legal - A Legal Technology and Innovation Podcast
Best of 2024: Can AltFee Kill the Billable Hour and Bring Transparency to Legal Billing? (Scott & Digby Leigh)
Dec 18, 2024
Scott and Digby Lee, co-founders of AltFee, revolutionize the legal billing landscape with their innovative app designed to replace the billable hour. They delve into the significance of alternative fee arrangements (AFAs), emphasizing the shift towards value-based pricing, especially in the age of AI. Their discussion touches on enhancing client relationships through transparency, the impact of COVID-19 on legal practices, and the integration of technology to streamline billing processes. A must-listen for anyone interested in the future of legal pricing!
27:56
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Quick takeaways
- AltFee aims to revolutionize legal billing by promoting alternative fee arrangements, enhancing transparency and value for clients.
- The platform fosters improved lawyer-client relationships through clear project scopes and pricing, reducing conflicts and encouraging collaboration.
Deep dives
Revolutionizing Legal Billing
The podcast features a discussion on the challenges posed by the traditional billable hour model in the legal profession. Scott and Digby Lee, co-founders of the software company Alt-Fee, aim to address these challenges by promoting alternative fee arrangements (AFAs). AFAs, such as flat fees, provide clients with price certainty and improve transparency in legal costs. This approach allows legal teams to determine appropriate charges for specific legal services, moving away from hourly billing that often leads to unpredictability for clients.
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