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Jody Winter, founder and CEO of Lloyd Winter PC, discusses his firm's transition from hourly billing to a flat monthly billing model for civil litigation cases. Jody explains that this change, implemented in 2019, was driven by a desire to provide access to justice for clients with smaller cases who were previously priced out of legal services. He describes how the firm uses a tiered pricing structure based on the amount in controversy, allowing them to profitably handle cases across different scales.
Jody highlights the benefits of the flat monthly billing model for both clients and the firm. Clients appreciate the predictability of costs and the ability to make informed business decisions about their cases. For the firm, this model incentivizes efficiency, allows for the adoption of new technologies like AI, and has led to a significant increase in caseload and profitability. Jody notes that their collection rate has improved to 96.4% and that they've been able to take on 40% more cases, particularly in the civil litigation category.
Jody emphasizes the importance of understanding cost structures and profitability when implementing this model. He shares insights on how they manage client deposits, automate processes, and leverage technology to improve efficiency. Jody also touches on the ethical and faith-based motivations behind his firm's approach, expressing a desire to serve clients with meritorious cases regardless of the amount in controversy. He encourages other lawyers to consider similar models to expand access to justice and improve their practices.
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