In an interview with dvm360®, Jan Woods, cofounder of Ask Jan, outlined tips for handling inventory to help increase practice revenue.
At the Fetch dvm360® conference in San Diego, California, Jan Woods, cofounder of Ask Jan, shared that inventory is the third biggest revenue producer for veterinary practices and offered advice on how to successfully manage your inventory.
View the video below for the entire discussion. The following is a partial transcript.
Jan Woods, cofounder of Ask Jan: You should make sure that you have the right people managing your inventory. You should make sure that when you order the drugs in, you mark them up correctly. Then every time you order [the drugs] again, you [have] to look at your invoice and make sure that if that price has escalated up, you've escalated your price up...You [have] to make sure your prices are right, you [have] to make sure your markup is right. And then I would also encourage you to have an inventory concurrent reviewer.