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Whats new at your veterinary practice?
These are the new services that Well-Managed Practice owners told us in Benchmarks 2015 theyve added in the past two years or will add in the next two years. What would you add to your veterinary practice?
Are you hungry for new and better in your healing practices and client service? Do you have a big, audacious goal for 2016 and beyond? Or-and be honest-have you fallen into a bit of a rut? Below you see what the answer is for practices-surveyed annually by Wutchiett Tumblin and Associates.
In Benchmarks 2015: A Survey of Well-Managed Practices, we asked what's new on the medical menu and what's coming soon. How does this compare to your history and plans? And, sometimes even more important, once you've added a service, do you know how to price it and market it? Let's dig in ...
Services that need mostly your smarts
All about pet food?
If you're with the 52 percent of respondents said they were planning on adding nutrition counseling in the next two years, don't forget to focus on what's important to your clients. First, help them figure out food myths and truths with the resources at dvm360.com/foodmyths.
Focus on prevention
Another high-interest item was preventive-care packages. What makes preventive-care plans most successful? Focus on three key things:
> A real commitment from clinic staff to promote and sell the plans
> A goal for the number of plans to sell
> Reasonable expectations of success.
Find resources to answer these questsions at dvm360.com/preventivegoals.
See page two for services that require a larger investment.
Services that likely require equipment or more space
How long before the equipment pays for itself?
That's a complicated question, but you can get there with a good plan. Head to dvm360.com/
equipfinances to make one.
What about pricing the new service?
There's a simple answer: What ROI are you looking for? Here's the formula:
$ __________ Annual cash flow from equipment
$ __________ Total cost of equipment
= __________ % return on investment
And there's a more nuanced answer at dvm360.com/equippricing.