Finance

Top 3 ways to price products and services

St. Louis - The number of veterinary visits is falling, and a new partnership between veterinary associations and animal health companies aims to reverse the trend.

In many practices, increased costs are often due to inventory costs, says CVC speaker Denise Tumblin.

Distribute this handout to your clients to help ensure appropriate training.

How full is your emergency savings account? If you're like most Americans, you probably aren't saving enough.

Answer B

When I get together with friends who work in other healthcare professions, the conversation often turns to malpratice insurance coverage.

Three questions to ask yourself before buying a new piece of veterinary equipment.

Accept that things change and let your pharmacy go. Or fight back.

It takes a comprehensive set of equipment and services to run a successful veterinary practice. But could you offer more?

It's great for looking at funny cat pictures, sure. But the Internet is also a powerful tool that can help your veterinary practice become more productive and profitable.

Veterinarians: You look forward to that paycheck, but do you look at anything but the amount? It's time to study your salary before you spend it.

Your inventory costs to gross should be 14-16%

Technology. Funny how this word can conjure up so many mixed emotions. Fear: "Technology changes every year, and sometimes more often than that. How can I possibly keep up with it?" Excitement: "The new gadget that came out this week will increase convenience and productivity!" Annoyance: "Technology just shortens attention spans. We're better off without it."

Internet pharmacies are well funded, very profitable and have cannibalized our customers and there's no sign of stopping. Metzger Animal Hospital has utilized several strategies to minimize the staffing problems and financial impact of this formidable threat to veterinary medicine. We will share our successes and failures in hopes to help practices with similar problems.

We're sure by now many of you have mastered certain techniques aimed at attracting clients into your offices. However, due to our current economic trends and an extremely competitive marketplace, these new clients are unfortunately not tearing our doors down.

When it comes to achieving financial success as practicing veterinarians, we are definitely our own worst enemies. I can't believe that according to national averages, a pharmacist and an optometrist earn more than a veterinarian! That is really sad! Why? Because most of us are afraid to charge what we are truly worth.

It's been a number of years now that your clients have alternatives to purchase their veterinary drugs and supplies. First it was the catalogue houses and then the internet. The first to feel the effects of the change in distribution channels were the large animal practitioners.

What makes the Ritz Carlton THE RITZ CARLTON? Why do they consistently provide the gold standard in customer service? Let's find out!

Marketing in today's practice plays an important part of a practice way to generate new business and keep existing clients happy. If you look at the way at how new clients determine who to pick their veterinarian it comes from one of four main ways: referrals, location, signage and your internet presence.

Production is defined as fees generated and collected for services the doctor is formally involved in the delivering.

It's easy to forget that our clients do not necessarily understand the jargon, acronyms and terms that we use every day and take for granted. Using plain language involves translating our language into language that the client can understand.

Consider developing a monthly statistical analysis report for your practice. Take a pulse of your practice by understanding the monthly statistics that are important and track them in a comparative format; month to month, year by year.

As a full-time practicing veterinarian with the typical type A personality, I haven't given myself ample time over my 27 years to actually venture out - to be adventurous. Adventurous to me?

Tax laws are forever changing and this year is no exception. Since taxes can take a significant amount of our earnings, it pays to know and understand the tax laws that are important for you and your practice. This clear understanding can save you money and keep you out of tax trouble.

The Big Question – Should I Extend Credit?