Structuring Fees for CasesRegister Today!
- by preoprn Sep 14, '08When I was at the conference, some of the other LNC's were discussing charges for cases. Some seem to charge a one time fee, not hourly, for screening a case and then go hourly to review the case. Without giving exact prices, lets say that she would charge $90 total to screen a case but then charge $100 per hour to review a case. What do most LNC's do? I thought it was always hourly.
- Sep 14, '08 by sirIHi, preop
I moved your post to a new thread as it is discussing a different topic.
Some LNCs will structure their fees according to how much an attorney charges per hour (in their area). Then, the LNC charges just under that.
Other LNCs charge a "flat fee" to review cases. Then, their hourly fee to actually work up a case. (as you pointed out)
Still others offer a "free" case review up to 2 hours max, for example.
I have negotiated a compromise with select attorneys in that I will conduct a "no charge" review. If the attorney actually needs me to review records, I bill him/her for that time, my hourly fee. If he/she takes the case, I am contracted for it. For the hours I do bill, I collect a higher hourly fee than I charge my other clients who just ask for a review for merit.
- Dec 1, '08 by crystalwomnMy work is all testimony. I charge an hourly fee. I make it simple, I charge the same for chart review/report and so on. I do not charge office expenses and most of the time I forget to charge for calls--I always forget to mark down the time. I require a retainer before I will even open the chart. I also have rush fees and cancellation fees for deposition and trial. I also charge travel time up to 8 hours a day. So far all my clients have been happy with my prices and my work. I usually give them some free research time. I broke my retainer rule once this year and got burned so now it is a policy. You should take a look at what the going rate is in your area for LNC's. Then it is between you and the client. I will bill out hours if I know the client is reliable. I will also work with the client. Last year I had a case which I billed out a very large amount of money. The client was having cash flow problems because he had several very expensive cases going. I worked with him on payment. The settled for 7 figures and he told me he put me name out there because he was so happy with the quality of my work. I received payment in full for my work.
- Feb 4, '10 by wheezeHi
sirI, I have enjoyed reading your posts. Thank you for providing so much information for nurses like myself who are looking into a career as a LNC. I am interested in finding out about the litigation software. Please PM me with the info too. Thanks