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Business & Finance
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Business and Financial Management
Many measures can be used to monitor the success of your veterinary practice. Here are some
- Quality of professional care and attention for clients and patients
- Degree of client satisfaction
- Maintenance of patient health
- Quality of clinical records
- Sound financial performance
- The level of salaries and conditions of employment for all staff members
- Required return on the owners investment in the practice
- Good reputation and respect for clients, patients and staff
- Practice image of which the owners and all concerned are proud
Most practice principals are able to make some subjective judgments about each of these factors but many of them are difficult to measure objectively. Sooner or later the success of the practice will have to be measured financially. Tax inspectors (agents), bank managers, accountants, prospective incoming partners or purchasers will all wish to be satisfied that, in addition to all the other subjective measures, here is a veterinary business which is financially sound ( from The Business of Veterinary Practice -- John Sheridan and Owen McCafferty, Pergamon Press) Take a look at these Business and Financial resources
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Managers: Take a Message
Practice managers are often inundated with phone calls and emails from clients, vendors, team members, and solicitors. It's nearly impossible to answer and deal with each call or email in real time and it's understandable to feel overwhelmed ...... . . . keep reading
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I've got the map and X marks the spot!
Consider these three key questions: Could better management grow your practice profit and the value of your business by at least 50%? Do you really need more clients and/or Are you missing the treasures hidden in your practice today?..... . . . keep reading
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Stop scaring clients with your veterinary fees
Veterinary fees have outpaced inflation. Make sure your clients understand the better medicine they're receiving, and tackle client pushback with bundled services, payment alternatives, and--gasp!--discounts. "All of a sudden, the price ..... . . . keep reading
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So, How Is Your Practice Doing?
Dr. Jones has owned the All Pet Animal Hospital for 15 years. Normally, the practice enjoys a 12% to 15% increase in gross per year. However, this year, things do not seem to be going as well. Dr. Jones is not quite sure what is going on, but the..... . . . keep reading
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7 Reasons Why We Procrastinate
We'd just begun our coaching call. Don was explaining why he had not kept his word about creating monthly financial statements. Again. In a voice tinged with resignation, he said there wasn't enough time. He rolled out all the things that..... . . . keep reading
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Pricing Veterinary Services for Profit and Value
You can be at the top of your profession as a veterinarian, but still have a struggling practice if you don't make business and marketing operations top priorities. Studies show that far too few veterinarians understand that effective use of ...... . . . keep reading
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Establishing Protocols Paves The Way To Success
Many veterinarians we talk to about this issue of creating standards in their practices are concerned about dictating how to practice medicine to their colleagues. However, the medical protocols are not meant to be a rigid rule to follow. Rather, they...... . . . keep reading
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How to compete with spay-neuter clinics
Spay and neuter clinics are cheap. They work on the principle of low cost and high volume - kind of like McDonald's. And what pet owners receive there is similar: just the basic burger, no tasty or satisfying extras. You can't compete with these ... . . . keep reading
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