“It’s the perfect vehicle for partnering with your client to talk about what it would cost to do X.”
- Brian Lamb, Practice Group Leader, Business Litigation
Clients tell us they prefer predictable pricing, and we have responded by crafting several types of alternative fee arrangements; in fact, we have utilized value-based pricing arrangements for over 2,500 matters. Our proprietary databases, historical repositories and technology enable us to accurately predict costs based on our experience with similar matters of similar scope. More importantly, we talk to our client about a matter's importance in terms of their business goals and develop a pricing strategy that focuses on the value of the result rather than the cost of the effort.
How It Works
- We offer a variety of alternatives to standard hourly billing rates and know which arrangements work best for which types of matters.
- We continuously update our pricing repository with data from matters completed under alternative fee arrangements to ensure we maximize value when developing fee proposals.
- When appropriate, our full-time pricing manager works closely with our CFO and lawyers to evaluate a matter and develop a customized pricing approach.
We invite you to learn more about our value-based pricing strategies. Email us at Innovation@ThompsonHine.com.