Signing up for law firm subscription plans – Why it may be time to reconsider your pricing model
Abstract: Hourly billing has long been the industry standard for law firms of all sizes. The COVID-19 pandemic, however, has prompted many firms to innovate in ways they probably wouldn’t have otherwise. This article covers why some resourceful firms are adopting a pricing model that has proven popular in a range of industries — subscription services. It highlights the benefits and risks of the subscription billing model, as well as the next steps firms need to take to start using this billing model. A short sidebar emphasizes how the subscription model works well for niche legal practice markets.