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Study shows rise in law firms’ billing rates

Firms have increased their billing rates by 3.5 percent since 2010

As more companies make the push to cut outside spend and bring more legal work in-house, law firms are starting to feeling the crunch.

The Hildebrandt Institute’s Peer Monitor Index (PMI)—which uses billing rates, demands, productivity and expenses to measure quarterly changes in law firm profitability—reveals that law firms are struggling to attract business while their expenses have jumped at the highest rate in two years.

Ashley Post

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