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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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Get clients to love your fees
When an owner demands to speak to you about the cost of treatment, it can be hard to keep from glowering. You are on your way to your next patient and, while taking a shortcut through reception, you see Mrs. Smith standing next to the desk. She's .... . . . keep reading
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What Can You Learn From A Spanish Vet?
I certainly didn't expect it. I did not expect to see such an incredible practice today. Let me tell you the story. For many months now I have been chatting on and off (on the internet) with a Spanish colleague -- Dr. Carlos Muñoz Sevilla. He initially ... . . . keep reading
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8 Veterinary Practice Financial Myths Busted
Most industries rely on analysts to look at data and create theories about how to succeed. Our veterinary industry is no different. But experience has taught me that these eight "best practices" are no more than widely accepted myths.... . . . keep reading
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Price is only an issue in the absence of value
While recently lecturing in Australia, I was surprised to read a front-page headline in the local newspaper declaring "US Recession is Over." So, I thought I would come back and tell everyone the good news: the US recession is over! Well, at least.... . . . keep reading
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Webcast - How to maximise your practice goodwill
In this webcast for practice owners and managers, John Sheridan discusses the goodwill value of your veterinary practice and considers a three stage strategy to grow the bottom line, achieve controlled profit growth and business value ........ . . . keep reading
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Doctor, we need more help!
After an especially busy day, your first response might be "Go ahead; put the help wanted ad in." But don't cave so quickly. When your staff asks for more help, they probably have not had access to or learned what numbers in your ... . . . keep reading
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Technology for client communication
It's 7pm at the clinic and Sally and Emily are staring at a stack of records requiring dozens of phone calls and a list of appointment reminders they need to fill out before going home. It's like this every night. Sally looks at Emily, rolls .... . . . keep reading
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Webcast - Make sure the price is right
In this webcast for practice owners and managers, John Sheridan discusses the importance of setting professional fees in order to achieve practice objectives. Getting the fees right is probably the single biggest influence on practice profit ..... . . . keep reading
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Have the Confidence to Do It!
Having just spent four days working on a stand at Crufts, what a difference an industry makes when you relate it to selling ! The pet trade's approach to selling clearly highlights the differences between their industry and ours... . . . keep reading
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Six Strategies to Overcome Adversity
By every conventional measure, J. K. Rowling was mired in her darkest hour. Her exceptionally short-lived marriage had imploded. She had been sacked and was as poor as it was possible to be in modern Britain without being homeless. "By every .... . . . keep reading
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Veterinary Business Video Show - Episode 018
In Episode 18 - we'll investigate the importance of looking at your practice and the services you offer through the eyes of consumers. I'll show you a practice management consultants' website in Texas. We'll consider the importance of a business plan, take a look at a Nifty Business Tool that you can ... . . . keep reading
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