Flat Fee

The billable hour is the benchmark of the legal profession.

But Osterhout, McKinney & Prather, a Fort Myers law firm specializing in elder law, started charging a flat fee three years ago, promising life-planning services for the remaining short life of a chronically ill person.

The idea was to diversify the firm's sources of income and generate steadier revenues. The firm charges between $10,000 and $20,000 to help a chronically ill person with a predictable diagnostic outcome manage their financial and medical affairs.