Why give it away? Keep revenue in your clinicMay 24, 2019 The last 20 years have been the perfect storm for general practitioners in veterinary medicine. The combination of the loss of spay and neuter services, the migration of vaccinations to low-cost clinics, and the exit of in-clinic pharmacy and retail to online sellers has affected the businesses of general practitioners in a truly significant way. I have felt the strong impact of these changes in my own practice. Historically, my clinic's revenue from routine services constituted 80 to 90 percent of my income. Today, these services account for less than 20 percent of revenue. With these changes and these hard figures, how do we not only stay afloat during this tumultuous time, but also thrive as business owners and medical professionals? The key lies in understanding where our industry has been, the current state of the union, and where the strengths of our individual practices lie to differentiate and flourish. The internet takes a bite One of the hottest topics in veterinary medicine has been the rise of online pharmacy. 1 (800) PETMEDS was king, and the new prince is Chewy.com. Now Amazon is eyeing the throne and your clients' dollars. The online pharmacy race has left the general …
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How nurses can grow your revenueMarch 29, 2019What is the difference between an under- and top-performing health-care team? Let's say you schedule appointments every 30 minutes. In an eight-hour workday, one doctor sees 14 patients and has an average transaction of $160, generating $2,240 in revenue. Your average doctor transaction should be 3.2 to 3.5 times your exam fee, according to the Well-Managed Practice Benchmarks Study.1 If you leverage your nursing team and schedule time based on the reason for the visit, you could see 21 patients per day, producing $3,360 per veterinarian and averaging three patients per hour. Revenue rises when you add dental income that nurses deliver. How can nurses help you grow revenue? Follow these steps: Check your staff-to-doctor ratio Every employee feels the hospital is short-staffed. Chances are you may have the right number of employees, but are using them inefficiently. Aim for a staff-to-doctor ratio of 4.7 team members per full-time veterinarian, according to WTA Consultants in Columbus, Ohio.2 This support staff includes two nurses, one veterinary assistant, one receptionist, and 0.7 managers. Assign doctor-nurse teams Designate daily which staff will be outpatient nurses (exams) and inpatient nurses (treatment area). Assign two nurses or assistants to each veterinarian. This medical team …
How EOTRH screening boosts bottom linesNovember 19, 2018Equine practitioners are faced with limited options for the economic growth of their practice. Increasing service to the clients you already have is one of the best ways to boost revenue; one way, specifically, is through dental screening and care.
