• Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Login
    Login Login form

One Bite at a Time!

  • Font size: Larger Smaller
  • Subscribe to this entry
  • Print

Improving practice culture, improving practice profitability: topics easy to talk about, often challenging to implement, often overwhelming for veterinary practices. How do we best implement change? One bite at a time! Break it down and simplify – keep it simple, keep it simple, keep it simple!

The AVMA Practice Profitability Workshop breaks the opportunity into four simple, easily understood baskets: finance, operations, strategy, and economics. Keep it simple, break it down.

Does finance affect veterinary practice? Basic accounting principles impact practices daily. Recording and analyzing financial ratios to track practice financial performance allows the practice to set goals and track progress. Impactful, accurate financial statements allow practices to identify opportunities to improve.

How does your practice operate? How would you describe your practice culture? Practice staff must be strategically allocated to build effective teams capable of achieving practice goals, professional goals, and personal goals.

Practice strategy directly impacts a practice's relationships with animal owners. Can you leverage preventative care, dentistry, grooming, and dietary sales to increase relevancy with animal owners? Are there strategies to increase animal owner demand for professional services? Can your practice streamline functions resulting in greater efficiency and higher profits?

What are the demographics of the practice's animal owners? What is the practice's market? What effect does the local economy have on the practice's market? What effect does the general U.S. economy have on the practice's market?

Veterinary practices, owners, and key leaders have two excellent opportunities to take advantage of in the coming months. The highly acclaimed AVMA Practice Profitability Workshop, sponsored by your WVMA, is in Madison on March 25-26. Also, consider attending July's 2017 AVMA Convention Practice Profitability Workshop in Indianapolis. Learn to break it down, learn to keep it simple – attend one of these workshops!

Last modified on
Tagged in: Presidents Message
in Presidents Message Hits: 242
0

Presidents Message

The Need is Great!

In my first President's Message published in November 2016, I challenged the WVMA membership to "Seize the opportunity, get creative and devise business models maintaining these activities to benefit the profession."

Access to veterinary medical care is a growing focus nationwide; the Humane Society of the United States estimates 23,000,000 pets in the U.S. can't access veterinary medical healthcare. Barriers are not strictly financial and include transportation, culture and language. If the profession could lower the veterinary medical care barrier these pets experience, what could the financial impact be? Basic healthcare provided to these pets, using a $200.00 per pet annual estimate, could have a $4.6 billion impact on veterinarian provided medical care. Approximately $24.6 billion is spent on veterinary services nationwide annually. Do the math, 19.6 percent of our industry's revenue is untapped in pets without access to veterinary medical care.

Here's an opportunity; a business model was devised, WisCARES (Wisconsin Companion Animal Resources, Education and Social Services). WisCARES is a UW-Madison program through the School of Veterinary Medicine in a partnership with the School of Social Work. The program's focus is the intersection of housing/homelessness and pet ownership and keeping animals and their people together and feature's veterinary medical wellness, pet food and supplies and boarding and foster for animals. The program is supported by a paid veterinary staff, veterinary volunteers and veterinary medical students in a non-profit environment.

Credit the vision of Drs. Ruthanne Chun and William Gilles for the concept genesis in 2014. The success of this program, providing veterinary medical care to an unmet demand, brings WisCARES to the threshold of expansion. This novel model works. Let's look to expand this model, let's find opportunity to employ more veterinarians. What an opportunity to leverage the human-animal bond, increasing access to pets' and humans' healthcare. This certainly is not the traditional model of veterinary practice, but a highly effective model of veterinary practice.

Once again, I challenge the WVMA membership to - seize the opportunity, get creative and devise business models maintaining these activities to benefit the profession. Support Drs. Chun and Gilles; consider the model; how can the profession leverage 23,000,000 pets without access to healthcare? The need is great!

0

Past Presidents Messages

The Need is Great!
Continue Reading...
0
Politics, Politics, Politics!
Continue Reading...
0
Professional Wellness: Break the Dam!
Continue Reading...
0
One Bite at a Time!
Continue Reading...
0
Be Relevant!
Continue Reading...
0
Conference Board LEI
2016 AVMA Economic Summit
Continue Reading...
0
Is Your World Flat?
Continue Reading...
0
logo
4610 S. Biltmore Lane, Suite 107
Madison, WI 53718
Phone: (608) 257-3665
Fax: (608) 257-8989
Email: wvma@wvma.org

WVMA-Foundation-Logo Final