June 09, 2006
Think about value first--and pricing alternatives second.
What about a "Chief Value Officer"? So we're back to the subject of King Billable Hour and whether lawyers can devise efficient value-based alternatives to that institution. Ron Baker at Verasage Institute thinks we can. Ron has an interesting new post which starts out:
The empirical evidence is overwhelming: Customers do want alternative pricing methods. There is an enormous backlash against the billable hour, since it misaligns the interest between the firm and the customer and rewards inefficiency. Customers want certainty in price, and more value than the price they are paying.
Underline the word "misaligns". Now read the rest of Ron's post.
Posted by JD Hull at June 9, 2006 10:50 PM