Business

Wellness plans make great business sense

More client visits and more spending occur when pet owners choose packaged preventive care, especially when they can make monthly payments.

Bundled wellness services are not new to veterinary medicine. A 2015 survey performed by the Veterinary Hospital Managers Association found that almost 14 percent of respondents reported offering wellness plans in their hospitals for seven or more years. Why are these hospitals such advocates of wellness plans? Consider the following five reasons to implement wellness […]

Take better control of your inventory

Errors in how much you choose to stock and in how you track and price products could cost you a significant amount of money.

Answer this: What are the two expense categories that practice managers or owners have the most control over and that have the most impact on profitability? If you said support staff costs and inventory costs, you would be correct. These two expense categories alone might account for 40 to 50 percent of a practice’s total […]

Constructive Criticism

Make your hospital a comfort zone

A clinic should be more than a place of healing. It also needs to exude a healthful feeling.

Creating a new veterinary hospital is a big task. So many parts to consider, so many needs and constraints to balance. Everyone expects a building to do the basics: stand up, not leak, have working lights and plumbing. However, truly good buildings are expected to be more of a home than a house, more of […]

Innovation Station

Veterinary telemedicine: Are we leading?

The profession must steer efforts to adapt digital tools to pet health care. Failure to do so will see clients choose pioneering practitioners.

Veterinary medicine has the distinct advantage of being able to observe trends, discoveries and new methods of health care delivery in human health care, and the reverse is also true. There are lessons to be learned from telemedicine in human health care, and veterinary medicine is uniquely positioned to benefit substantially from advances in human […]

VetPartners Corner

Rethinking the sales funnel

Use a four-step online strategy to capture new clients and re-engage pet owners who showed initial interest.

A sales funnel is the system you put in place that is tasked with turning local prospects into new clients. It is the foundation of any realistic and sustainable new-client acquisition strategy. This article will teach you how a successful sales funnel operates and will present tactics designed to increase your ability to attract new […]

Money Matters

A budget can help you reach your goals

A tangible spending plan is your vision for the future and is important for the financial health and success of your practice.

What if I told you that one of the best ways to achieve your goals while maintaining or increasing profit levels is through developing and using an annual budget? To the uninitiated, the mere mention of budgets causes groans and eye rolling. However, power users know that budgets are critical tools for managing their businesses. […]

Get onboard with pet boarding

Providing a safe haven for cats and dogs while their owners are away can be a moneymaker.

What if you could charge boarding rates like these at one central New Jersey veterinary hospital? Canine: $38 to $49 a night, depending on the dog’s weight. Feline: $32 to $84 a night, depending on the accommodation selected. Granted, the rates may be higher than what is charged in your town, but they show there’s […]

Protect and Defend

Are you prepared for a data breach?

The theft of sensitive client information can do irreparable harm to a small business, so take preventive steps now.

You don’t need to look far to find a story about yet another data breach. Here are recent headlines: Health care data of 1 million N.J. patients compromised since 2009 Hacker attacks on health care providers jump 600% Hacker publishes 5 million Gmail addresses, passwords Breach at Goodwill vendor lasted 18 months Home Depot data […]

Constructive Criticism

The bottom line on floors

Focusing solely on durability and price during a hospital remodel or construction could leave you on shaky ground.

A practice manager contacted me recently with a problem. Her hospital’s client areas had been renovated six months earlier, but the new floor emitted a pervasive odor. She wanted to know what to do. I knew the cause as soon as I saw the product specifications. On paper, the flooring was a fine material: an […]

Chart a new financial course

The AAHA/VMG Chart of Accounts establishes an industry standard that allows for more accurate benchmarking.

Veterinarians don’t enter the profession to practice accounting, which is why they often delegate bookkeeping to others. As a result, accounting methods can vary widely from hospital to hospital, hampering efforts to assess how a practice’s revenue and expenses differ from industry benchmarks. A free tool created by an industry coalition aims to standardize accounting […]

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