Avoid Pricing Veterinary Services Too Low

Alan Robinson, BVSc, MRCVS, DMS, director of VetDynamics UK Ltd, says a lot of veterinary practices don’t do well because of their inability to produce good financial results. As Dr. Robinson explains, a Canadian study looked at how much various professions discount their services. Accountants discounted nothing, lawyers maybe 5 percent and veterinarians discounted their services by 41 percent. They're actually discounting their services down from a level that was unprofitable in the first place, Dr. Robinson says.

Most veterinarians find the work that they do relatively easy to deliver, and therefore, they don’t put much value on themselves, even though the client and the patient get massive value.