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An Urban Experience
WSVA7-0442
DSAVA: PRACTICE MANAGEMENT - PART 2
BUSINESS DEVELOPMENT TIPS & TRICKS FOR THE SMALLER PRACTICE
C. Kolthoff1
1Cand.med.vet, E-MBA, IAF cert. facilitator, Groennevej 17, 8680 Ry, Denmark
During my carrier as practice owner and practice management consultant, I have worked with more than 130 practices primarily in the Scandinavian countries. All practices are different, but there are basic topics I work with in every practice. In this talk, I will go through some of the things that makes the most differences in the practices I work with. The key subjects are:
• The “Why”. What is your compelling story that makes people want to work for you?
• Understanding the business dynamics and getting the financial strategy right.
• Pricing and invoicing.
• Using goals, KPI’s and proper follow up.
• Branding and marketing.
• Veterinary skills and equipment.
The “WHY”
If you and your team do not know where you are going, it is hard as a practice owner to make the right decision and even harder as an employee. A compelling vision and a clear goal motivates and empowers people to act.
I start in a group setting with letting everyone watch Simon Sineks TED talk - “How great leaders inspire action”. I then ask the participants to interview each other two and two, to identify what drives and motivates them. After this I have them presenting the other persons “why” in plenum.
When I merge all the “why’s” into a compelling vision, dream and goals, I will end up with something that I can use to give a strong sense of direction, that the staff will buy into.
Once we have defined the Why, vision and goals, I recommend making an effort to put it into pictures and graphics and build the story and brand internally by telling it over and over again.
Understanding the business dynamics and setting up the overall strategy
Very often, the staff is not involved in the business part of the clinic. They do not understand the business dynamics and I often experience that they have a sense of “more money in, means more money for the practice owner”. In my opinion that staff needs to know
the business dynamics and understand that a healthy business means job security, development and a lot of great opportunities to do fun stuff.
The need to know how much difference it makes if you can raise the average clinical transaction value with 10% or the number of visits per active client with 5%. They also need to understand the percentage of net income, that’s is available for staff salaries and still have a healthy business.
You can download the praQtice simulation model from www.praqtice. dk with a guide to fill in the number. I suggest that you fill in your own numbers and walk your staff through the numbers at a staff meeting and have them playing with changing the numbers.
Prizing and invoicing
The major quick fix of all the practices I have visited,
is getting the pricing and invoicing right. In areas with
a lot of competition or with some neighboring vets dumbing the price, I often find practices that are seriously underpricing their services. In other practices, they just don’t have a consistent pricing system.
I suggest following a five step plan:
• Use the praQtice simulation model with the team and agree on a common target for “average clinical transaction value”.
• Measure “average clinical transaction value” for individual vets and for the practice. Set goals and follow up.
• Have everyone working on attitude, communication skills and their sense of own value.
• Set your pricing strategy. Discuss with other colleges. Be inspired by Ryanair (a basic fee + charge for all extras).
• Take an hour a month with your colleges to go through your cases and pricing. Did you perform the right procedures? Did you price all you did? Was the pricing right? Is there a reminder for the next visit?
• Reevaluate your prices.
Be a leader and businessperson
Often I find practice owners doing everything from
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 42ND WORLD SMALL ANIMAL VETERINARY ASSOCIATION CONGRESS AND FECAVA 23RD EUROCONGRESS
  




























































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