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https://www.wolterskluwer.com/en/expert-insights/measuring-efficiency-why-billable-hours-are-not-enough
Apr 23, 2020 · There are two primary reasons for this shift. 1. Focus on client value. As firms shift away from relying on compliance work toward advisory and consulting services, simply measuring the number of hours people put in isn’t enough. Consulting …
https://www.accuratelegalbilling.com/blog/billable-vs-nonbillable-hours-here-is-everything-you-need-to-know
Sep 03, 2019 · The logical (not really) step for most firms here is to write-off these hours so as to hasten the payment. While the billable hours written off might not seem to be much when you consider it per invoice, on a larger scale, this places a highly negative impact on your firm’s financial health: poor cash flow, decreased profit margin, etc.
https://www.logikcull.com/blog/2-ways-small-firms-can-double-their-billable-hours
If you find yourself struggling to bring in more billable hours, you’re not alone. Many lawyers aren’t able to fill up even half their day with billable work. According to the 2017 Legal Trends Report, unveiled yesterday at the Clio Cloud Conference, attorneys utilize only 2.3 hours a day on billable work, and collect on only 1.6 of those hours.
https://www.clicktime.com/blog/billable-vs-non-billable-hours-how-to-get-paid-for-both/
On the surface, the answer is pretty simple: charge enough for your billable hours to cover the cost of all of your non-billable activities. You can, of course, use a billing rates calculator to figure out what to charge for your work. But without first looking into how many hours you currently spend on both billable and non-billable activities, you’re missing out on opportunities to ...Estimated Reading Time: 9 mins
https://law.yale.edu/sites/default/files/area/department/cdo/document/billable_hour.pdf
enough money from your billable hours not only to cover your salary and your overhead, but also to generate revenue for the firm. It’s not a complicated equation – the more hours you bill, the more revenue for the firm. Firms “average,” “target” or “minimum” stated billables typically range between 1700 and 2300, although
https://verdict.justia.com/2014/11/17/problem-inflating-billable-hours
Nov 17, 2014 · One alternative is for the law firm to routinely audit its own billing to nip problems in the bud. The principle is simple enough. Red flags should go up when the in-house auditors see one lawyer charging 300 or more hours in one month. Perhaps the hours are real, because of travel time and waiting around the courthouse.
https://paydirtapp.com/blog/billable-vs-non-billable-hours-make-better-estimates/
Billable and non-billable. 65% Annual billable hours (Based on minimum): 1,144 (1,760 x 0.65) 35% Annual non-billable hours (Based on maximum): 616 (1,760 x 0.35) Estimated time. Using the process we discussed at the beginning, calculate the amount of time you’ll spend on each stage.
https://www.reddit.com/r/law/comments/5kv56k/lawyers_how_do_you_reach_your_billable_hours/
I start at 8, take about 1 hour of for lunch and usually go home between 18:30 and 19:00. Of these 9.5-10 hours in the office i usually bill 6-7. I could probably become more efficient by not surfing on reddit etc., but no one will bill 100% of their office time as there just are too many tasks that are not billable.
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