Finance

Notice that silence? It's the calm before the storm-a storm that threatens to turn into a disaster if the Internet keeps stealing your clients. But those dark clouds don't necessarily mean doom. After all, no computer can provide the level of service your practice can offer.

Lakewood, Colo. - Practice revenues across the profession increased 3 percent from 2009 to 2010, despite unique patient visits declining by 1 percent, according to a new study by the American Animal Hospital Association (AAHA).

Purveyors of the recently published data on the declining perceived value of our services would like us to know that the economic sky is falling.

Q: How can I determine how many veterinary practices can thrive in a certain city?

Small businesses are finding it harder to find a loan these days, thanks in part to increasing regulatory concerns.

Wellness plans aren't milking clients dry. They're swelling veterinary hospitals with income and helping spot patient problems. Learn what set-fee-for-service packages can do for your practice.

Find out how to reduce or even aviod the cost of unemployment.

Your team members are what make your practice run, so give them the tools they need to succeed and to enjoy work. Here's what our veterinary architects have to say about building with your team in mind.

Q: How much should my team members know about my practice's finances?

Q. The inventory for our practice's equine work seems out of control and the payables are piling up. How do I manage inventory without losing money?

Sure, your schedule is crazy. But carving out a couple of hours per week could be the key to keeping your project on schedule and on budget.

It could be nothing more than a passing trend. Or it could be the future of veterinary practice marketing. Here's what you need to know about Groupon and other daily deal websites.

Ask yourself these important questions to see if you're ready to take the plunge into ownership.

You're used to handling most aspects of running your veterinary hospital yourself. But sometimes it's best to ask for help.

Chapter 4 of a nine-part video series about the Veterinary Care Usage Study by Dr. Karen Felsted, CEO of the National Commission on Veterinary Economic Issues.

It's not a glamorous title, but polishing your communication skills can help attract business from clients whose cats experience litter box problems.

The real reasons behind one of the veterinary industry's biggest problems.

Even in these difficult times, you can grow your practice by focusing on productivity

Do you have what it takes to create your own successful side business?

Accurate and complete financial recordkeeping is important to any hospital owner, but is also important to those who work with the veterinarian. People both inside and outside the hospital all depend on the accurate recording of financial transactions.

It isn't uncommon to find practices that, either formally or informally, offer technician appointments; i.e. patient visits in which certain services are provided to the pet and pet owner by a credentialed veterinary technician instead of by a veterinarian.

For more than a decade, the rule of thumb for setting fees in veterinary medicine was simple: Raise 'em! The corollary to this rule of thumb was: don't worry about clients not wanting to pay; if you communicate the value of the procedure, they will gladly open their pocketbooks.

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.

For more than a decade, the rule of thumb for setting fees in veterinary medicine was simple: Raise 'em! The corollary to this rule of thumb was: don't worry about clients not wanting to pay; if you communicate the value of the procedure, they will gladly open their pocketbooks.

Budgets should an integral part of your overall financial plan. With budgets in place you are more likely to control the financial destiny of the practice.