• DVM360_Conference_Charlotte,NC_banner
  • ACVCACVC
  • DVM 360
  • Fetch DVM 360Fetch DVM 360
DVM 360
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
By Role
AssociatesOwnersPractice ManagerStudentsTechnicians
Subscriptions
dvm360 Newsletterdvm360 Magazine
News
All News
Association
Breaking News
Conference Coverage
Education
Equine
FDA
Law & Ethics
Market Trends
Medical
Politics
Products
Recalls
Regulatory
Digital Media
dvm360 LIVE!™
Expert Interviews
The Vet Blast Podcast
Medical World News
Pet Connections
The Dilemma Live
Vet Perspectives™
Weekly Newscast
dvm360 Insights™
Publications
All Publications
dvm360
Firstline
Supplements
Vetted
Clinical
All Clinical
Anesthesia
Animal Welfare
Behavior
Cardiology
CBD in Pets
Dentistry
Dermatology
Diabetes
Emergency & Critical Care
Endocrinology
Equine Medicine
Exotic Animal Medicine
Feline Medicine
Gastroenterology
Imaging
Infectious Diseases
Integrative Medicine
Nutrition
Oncology
Ophthalmology
Orthopedics
Pain Management
Parasitology
Pharmacy
Surgery
Toxicology
Urology & Nephrology
Virtual Care
Business
All Business
Business & Personal Finance
Hospital Design
Personnel Management
Practice Finances
Practice Operations
Wellbeing & Lifestyle
Continuing Education
Conferences
Conference Listing
Conference Proceedings
Resources
CBD in Pets
CE Requirements by State
Contests
Veterinary Heroes
Partners
Spotlight Series
Team Meeting in a Box
Toolkit
Top Recommended Veterinary Products
Vet to Vet
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us

© 2023 MJH Life Sciences and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Advertisement
By Role
  • Associates
  • Owners
  • Practice Manager
  • Students
  • Technicians
Subscriptions
  • dvm360 Newsletter
  • dvm360 Magazine
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us
  • MJHLS Brand Logo

© 2023 MJH Life Sciences™ and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Do your homework now and love your decision later

August 1, 2012

Don't be hasty when introducing new veterinary products and services.

Veterinary Economics Editorial Advisory Board member Gary Glassman, CPA, says that some products or services may be easier to offer than others, depending on the time commitment and financial resources it takes to get them up and running.

He recommends asking yourself these three questions before you get started:

Advertisement

1. What resources are necessary? How much will it cost? Will staff need to be trained or will you need to hire additional staff to support the activity? For a new service to be financially successful, the benefits must outweigh the costs—both in human capital and in dollar amount.

2. What is the additional revenue possibility to the practice? You should always consider not only the sales potential of the activity but also the profitability. Will it be a profitable activity and how does the activity improve the quality of medicine for the practice?

3. Are my associates and staff in favor of adding the new service or product? It’s best to survey all members of the medical team to make sure everyone is on board. Too often practices add a piece of equipment that one associate has an interest in, but when that associate leaves, the service disappears and the practice is stuck with equipment that no one has an interest in or knows how to use.

Related Content:

Practice Finances
Market research: How to find your edge
Market research: How to find your edge
A technician’s true value
A technician’s true value
Build your first veterinary hospital
Build your first veterinary hospital

Advertisement

Latest News

Xylazine moves from the stables to the streets

DEA reports widespread threat of fentanyl mixed with xylazine

3 Must-reads for National Poison Prevention Week

UC Davis study on eye diseases in kittens

View More Latest News
Advertisement