2020 Well-Managed Practice

The 2020 Well-Managed Practice® Revenue Benchmarks Study (WMPB®) is coming out soon and you can pre-order now by clicking this link Pre-Order Now! This year we have divided the study into four separate smaller books that focus on one subject at a time. We will publish one book every six months. Revenue is the first [...]

Mission Possible: How to Afford a $3 Team Raise

With the hunt for doctors and staff taking much longer than in the past, practices may need to rethink their hiring strategies. WellMP® continue to tell us they’ve found the most success with an online job posting. For associates, the AVMA is the top resource for both employers and employees. Word-of-mouth works well too, and [...]

Planning Your Transition to Veterinary Practice Ownership

If you are considering becoming a practice owner, you’re probably feeling a lot of excitement—as well as a healthy dose of fear. Taking on practice ownership is a big responsibility, but it offers a wide range of rewards, too. As owner, you’ll be the one defining its direction, growth, and standard of care. You’ll also [...]

Easy Ways to Re-energize your Team Meetings

Boring. Robotic. Unproductive.  A game of word association or a description of your team meetings?  If you chose the latter of the two, read on for some easy tips to help put the spark back into your team meetings and your practice! 1 Make it about them. Employ the “open mic” policy and share air [...]

How to Correct a Low Average Doctor Transaction (ADT)

Low ADT:  The target ADT for the practice is $160 to $175 and the doctors’ actual ADT ranges between $125 to $155. Correction 1: Forward-book the patient’s next appointment for medical progress/follow-up appointments, dental prophylaxis, preventive care appointments, follow-up bloodwork, etc. to ensure patients receive the healthcare prescribed by the hospital’s medical protocols of care [...]

Timeline to Buy a Veterinary Practice?

The road to veterinary practice ownership can be short or long, depending on the level of preparation on the part of the buyer who is considering a practice purchase.  A potential buyer needs to take steps to position him or herself for loan approval three to five years before the practice ownership quest begins.  These [...]

Fifty Shades of Fees

Knowing the true cost of a product or service helps veterinary practices with pricing decisions.  Published resources like the Well-Managed Practice Benchmarks Study and the AAHA Fee Reference provide guidance too.  Yet a practice may still be on the fence about when to raise fees, which fees to increase and by how much.  Here are [...]

How to Stop Giving Away a Fortune at Your Veterinary Hospital

Charging for your veterinary services isn’t just a necessity financially, it contributes to your employees’ value, as well as the value of those services rendered. Billing your clients for the care your veterinarians and staff provide is critical to giving the practice the necessary resources to continually elevate patient care, invest in new medical technology, [...]