Financial Management
You can’t fix what you can’t measure is a basic principle of business management. Just like how we use CBC or Biochemistry panels to diagnose and treat a patient, we have numerous financial tools to help us understand the financial health of our veterinary practices.
Financial Management Components
Financial Management
You can’t fix what you can’t measure is a basic principle of business management. Just like how we use CBC or Biochemistry panels to diagnose and treat a patient, we have numerous financial tools to help us understand the financial health of our veterinary practices.
Financial Management Components
Please note that all the components are best utilized together, but can also be performed independently, depending on your circumstances.
Financial Health Review & Report
We review your financial statements from the previous three years to identify trends, opportunities and challenges. We look at your financials as part of the overall business, so our insights are paired with other elements and goals of your business. Your financial statements help us understand if you are where you need to be.
Practice Dashboard
A practice dashboard gives you the information you need to know how your business is doing financially at any time. Every practice has different needs so we work with you to identify the results that will benefit you.
These key performance indicators focus on areas such as:
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Revenue
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Profitability
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Inventory
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Wages
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Veterinary production
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Veterinary discounting
Customized Practice Budget
A monthly budget is critical to understanding the financial health of your business right now. If you wait until the end of the year, it is too late to make the changes needed to achieve the financial success you want.
A real-time budget helps you understand what makes your business profitable and the small changes you can make to increase profitability and ensure that as a practice owner, you receive the return you want on your time and investment.
A monthly budget is also useful to audit theft or embezzlement from your business. Consider it a security check on your finances
Remote Business Education Training
4 one-hour Private Webinars
Financial statements don’t have to be solely the expertise of your bookkeeper and accountant. Our approachable private webinars will give you the skills and financial literacy to understand something critical to your business. Instead of hoping someone is giving you the information you need, we help you take control of your business finances.
Increasing Practice Value
Veterinary practices are being sold for astronomical prices. It is easy for a practice owner to be impressed by a high offer, but is the price fair or is there a way to increase the value of your practice.
