Beyond the Numbers Blog Thoughts & Advice on Veterinary Practice Management
After performing end-of-year inventory counts and adjustments, it can be eye-opening and gut-wrenching performing adjustment after adjustment to your inventory. As a brand-new inventory manager, I did a full inventory count for a practice that hadn’t counted anything in nine years. I remember adjusting item after item by thousands, if not tens...Read More
COVID-19 forced many veterinary practices to pivot in terms of how to operate and where to invest time and resources. Rotating staff, curbside service, and telehealth are among the many adjustments practices have adopted. According to VetSuccess data from the Veterinary Industry Tracker, most practices have not only bounced back from the...Read More
I was a veterinary technician and practice manager for 10+ years before coming over to the world of veterinary data at VetSuccess. I fully understand the day-to-day struggles of running a veterinary practice. I know that your time is precious and your data needs to be easy to absorb and actionable. I...Read More
It’s no secret for those in the veterinary industry, practice management software data, aka PIMS data, can get very messy. It’s far too easy to end up with lots of different names for things and codes that come and go. Perhaps an enterprising practice manager initiates a PIMS clean-up and beautifully recategorizes...Read More
You wouldn’t be reading this if you weren’t already committed to the health of your practice. You know tracking performance is important. You have practice management software that lets you run almost any report under the sun. You might even diligently run those reports every month, recreate your special information searches, and...Read More
It had been a tough year for this practice. It began with some shake-ups on the team. This resulted in a wave of hiring and training—a time-consuming albeit important task. The changes were all positive and the practice started out the year in high spirits and enthusiasm, ready to tackle their growth planning...Read More
When I ask someone how their practice is performing and which metrics they look at regularly to assess their performance, I typically hear the same set of KPIs. Revenue, new clients, ACT, active clients, percentage of revenue toward cost of goods, and percentage of revenue toward labor, to name just a few. I...Read More
My first swim into the deep end of the management pool was as an inventory manager. Over the years I keep coming back to the principles of effective inventory management again and again. As the second highest expense in a veterinary practice, having a solid knowledge of how to manage inventory is critical...Read More
One of the most important KPIs you should be tracking in your practice is the “net change in active patients” metric. It is a performance measurement that is not readily available in your practice management software, yet it is arguably one of the most insightful. It’s not the easiest number to calculate, but...Read More
Measuring your practice’s success in terms of revenue, compliance and return on investment are just a few areas that indicate how your practice is performing. In order to move forward, you not only need to know where you want to go, but where you are now. This enables you to create a plan...Read More
