• 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.

One small step toward Open Book Management

January 8, 2016

You dont have to divulge every nickel and dime to be open. Start by sharing one area you want to see grow and invite your team to problem solve with you.

The theory goes that employees privy to budgeting, revenue, profits, expenses and the cost of goods feel more vested in the overall performance of the veterinary practice. And that results in reduced costs and increased productivity. So are you ready for Open Book Management? No? OK, what about dipping your toe in the water ...

Before you start handing out your computer passwords or, to the other extreme, screaming, “You'll have to pry the books from my cold dead hands!,” let's start with a simple first step.

Lori Ramig, MBA, a hospital administrator at BluePearl Veterinary Partners in Franklin, Tennessee, and a member of the not-for-profit association Veterinary Specialty Practice Alliance, suggests you target a profit center or two and use past performance to determine areas of decline or desired growth. Share those results with your team and engage them in brainstorming solutions to discourage declines and encourage increases.

For example, have well-pet visits dropped? Why do your team members think it's happened? What can they do as individuals to change it? What changes in practice protocols or client outreach could help?

Practice management consultant Pam Stevenson, CVPM, with the veterinary practice consulting firm VetResults in Durham, North Carolina, says better communication like this is always good, Open Book or not.

Advertisement

“Not only can this kind of engagement bring to light innovative ideas for the entire practice,” Stevenson says, “but it can give team members the chance to openly share ongoing issues or ideas they've been keeping to themselves.”

Once the ideas are flowing, you can consider introducing a system for incentive-based pay or additional time off to reward employees for their innovation and improved performance.

“By knowing more about where the practice's money is going and how decisions are made,” Stevenson says, “your team members become your best allies in improving the service and success of your practice.”

Editor's note: Ready to delve deeper into the practice of, and systems to support, Open Book management in today's veterinary practice? Learn from the man who literally wrote the book on it.

Related Content:

Leadership & Personal GrowthPractice FinancesPractice OperationsPersonnel Management
Proper praise for a flourishing team environment
Proper praise for a flourishing team environment
VHMA announces latest class of CVPMs
VHMA announces latest class of CVPMs
3 tips for selling your practice
3 tips for selling your practice

Advertisement

Latest News

Updated EquiTrace app integrates wth HISA Portal

San Francisco SPCA bestows $100k grant from San Francisco Foundation

Merck Animal Hospital renews scholarship with The Foundation for the Horse

3 Must-reads from Fetch Charlotte 2023

View More Latest News
Advertisement