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My firm still tracks time and assigns billable goals. Might depend by state but where I am the court has to approve attorney fees/costs and we have to provide an accounting for the court review and for the client’s consideration as part of a settlement.
You’re right, contingency fees do change the traditional billing model, but it doesn’t mean you can skip tracking your time. It's still important to keep track of case progress to ensure everyone is on the same page about how much work is going into the case. Plus, some firms still track time for internal purposes, like budget management or case evaluations.
We didn’t bill hours. We just did the work and was paid by the hour. Nice.
Plaintiff PI (where the CFAs usually are) typically does not bill for their hours.
I have never billed for my hours and worked very briefly at a defense firm. I was completely lost on the billing part. Had to leave and go back to plaintiff PI.
Anytime I have worked at a firm where they worked on a contingency fee, we didn't bill our hours. We were hourly employees.