Increase Practice Revenue Through Client Compliance
Two-doctor veterinary practices could be missing $3 million in revenue due to poor client compliance.
Dawn Burdette, executive director of sales, leadership and development at Henry Schein Animal Health, explains testing her company has done to uncover how much revenue veterinary practice's miss due to poor compliance.
"We looked at over 700 practices to try to put a dollar amount to what is the revenue opportunity of increasing compliance and preventive care. So we looked at about 700 practices and we asked that the practice is: what are your guidelines for preventive care? And they told us and that was around exams and dentistry and flea and tick and heartworm and nutrition—I don't think I'm forgetting. So those were the areas that we talked to them about it. And then they told us what their guidelines were for their practice. And we went in their data, went into their software, and pooled to say okay well how many did you actually do against what you would like to be able to do.
What we found was that in practices grossing about $1.5 million, 2-doctor practices grossing about $1.5 million, there was almost $3 million of revenue opportunity in non-compliance of preventive care. So there's a tremendous opportunity to increase the health care, and increase the revenue of the practice, and at the same time that you're doing that you're really decreasing long-term cost for your client. Because we know that, in preventive care, if you catch things early, the treatment outcomes are better and they're usually less expensive. Preventing things is usually better in terms of patient care and cost to the client then treating things if they get it. So everyone wins with preventive care."