A surgeon friend of mine once explained to me how her profession’s CPT Codes describe specific medical procedures in a way that’s commonly accepted across the medical industry. For each such procedure a fixed fee is charged — regardless of the time consumed or complications encountered in performance of the task.
Though there is a noble effort underway toward a legal industry counterpart to medicine’s CPT Codes, don’t expect its widespread adoption any time soon.
Why not? Because the fixed fees those codes make possible in medicine undercut attorneys’ billable hours business model. Continue reading