The NYSAVT Spring Conference is a success!!!

Take a look at the turn out for the NYSAVT spring conference!   Held at the beautiful Beaver Hollow Lodge in Javit Center, NY, this great CE event was a knock-out-of-the park success. 

I worked with some of the LVT-Managers and  extra-interested LVT’s in the group going over veterinary financial management information.  We worked for 3 hours in the facility’s well appointed board room.  Because our group was small, we had some great interaction and really had a chance to dig into the material.  Thank you so much NYSAVT for a wonderful time!

Now for the drama part of the story.  The event was held on April 16^th, but on April 15^th, my computer crashed!  No worries, I had the presentation on a thumb drive and one of the organizers was happy to loan me her computer…which wouldn’t boot the show.  No problem, the conference center provided me with a computer…that crashed during the presentation…No problem, one of the NYSAVT board members loaned me her computer…which went off twice because of the storm-related power outage…No problem we rebooted it so we could continue with the presentation which was interrupted by an announcement, “Does anyone own a blue car with license plate number…it’s an emergency (see the emergency below)”

Big problem.  The wind had blown over a tree which went crashing into one of the attendee's car!   I continued with the lecture, before we were interrupted again.  “Does anyone own a Toyota Tacoma with license plate”….YES, I DO.  MY GOD, WHAT’S WRONG?  (See below what was wrong)

This big tree was ready to continue breaking and slam down on a couple of cars (mine included) parked underneath.  No problem, I moved the car.

Despite all the mishaps, our group stayed ½ hour past our finish time, exchanging ideas and talking.  I hope to stay in touch with all my new colleagues!  Thanks again, NYSAVT.  Even gale force winds couldn't dampen the spirit of this group!

Sip and read

Happy Monday morning fellow managers!  Who needs another cup of coffee?   Go on, you know you want it.  

While you sip that, I want to go over some upcoming events that you may not be aware of.

#1  The NY State Association of Veterinary Technicians is having their Spring Seminar this coming weekend.  I’ll be doing 2 hours of lecture, so if you feel like a day trip to Java, NY (that’s the city in NY, not the Jacob Javitz Center in NYC), head on up.  Should be a great conference with a great group of people.  For more information go to http://www.nysavt.org/seminar2011

#2  Not to be outdone or upstaged, another group of great people (led by the indomitable Tracy Turner, CVT), the New Jersey Veterinary Technician Association will be holding their annual conference, Sunday, April 17^th.  Please take a look at their website, http://www.njvta.com/, for more information.  Over the past three years, this group of inspired and dedicated technicians have really pulled the State’s veterinary nursing together and done an excellent job at improving the care we provide our pets and the awareness of the industry within the state.

#3  Have I harped enough about the May 19^th event at Redbank with Karyn Gavzer?  And for the love of god, take 20 seconds and do the survey at http://www.surveymonkey.com/s/FKCHXQP.  We’re going to use the information to illustrate some points about where we are as a group with our human resources.  Strictly anonymous, so go ahead and let her rip.

#4  What about the online classes?  You don’t want to treat your receptionists and assistants to a fast little learning session with the Halow?  This is not your regular CE, but an integrated approach to turn education into superior service, the endorsement of your practices and increased awareness of the value of veterinary services.  Give it a whirl.  Next one is Tuesday, April 11^th at 1pm on diarrhea (no wisecracks, please).  Send me an email at bash@halowconsulting.com if you would like an invitation to this live webinar.

Ahhhh $%^&, my dog has diarrhea!

Diarrhea!

How many calls do we get each week regarding diarrhea?  Is your staff prepared as well as it can be to answer your client’s concerns and can they intelligently and convincing encourage the client to book an appointment?

I have an upcoming, live webinar, Diarrhea in the Companion Animal, scheduled for April 12^th at 1pm. Invite your team to learn how the body’s digestive tract should work, what goes wrong when a patient has diarrhea, the many causes of diarrhea, and what each veterinarian does when examining and diagnosing a case of diarrhea.  We’ll talk about the benefits of an examination and the words we should use when encouraging a client to book an appointment for this illness.  Attendees will also get a copy of a phone script to use as well as a flow sheet when triaging cases over the phone.   Please send me the email addresses of those in your practice that you would like to attend.   Current clients of Halow Consulting enjoy this webinar free of charge.  Other clinics contact me for information on how your entire team can attend!

As a reminder, we will be REPEATING the lecture on Endoparasites at 3pm also on April 12^th.  Attendees will leave understanding the common parasites we find in our routine screenings, the medications we use to treat the infections, and the strong need for regular endoparasite testing.   Handouts are also available to all attendees. 

They Call It Christmas City

Hey Everyone,

Great news!

My partner, Robin Stankowski and I will be working with a soon-to-be-opened animal hospital in Bethlehem, Pa.  Can I start out with Bethlehem…anyone ever been there?   I don’t know if you’re like me, but I was thinking rust belt, steel town, row houses…like that…NOT SO AT ALL.  It’s really beautiful actually…beautiful houses; nice planned parks…the community seems civilized and alive with momentum.  Something I wasn’t expecting.  Also, for you gamblers out there, they have a casino.  A big one.  So pack up the car and day trip it to Bethlehem. 

Robin, a resident of Bethlehem, says that Christmas City is popular alternative to the city's formal name.

Anyway, back to the animal hospital.  They’re setting it up in a former bank!  In fact, one of the exam rooms/office is going to be in the original vault.   You know, I’m an old I Love Lucy buff, and you can’t imagine the Mr. Mooney high-jinx that was going through my mind when I saw that vault:

 

Vault Scene:  Mrs. Pierpont is our most demanding client.  Her prize poodle, Perfume, wanders into the vault when I’m not looking.  I accidentally lean on the door, locking this poor dog in with no means of escape.  “Oh Mr. Mooney!!!!”

Alright, I’ll knock it off.  Anyway, the owner and I worked out a plan to move forward and I’m very excited.  One of the things we’re all committed to doing is keeping a journal of our progress.  A veterinary hospital from the loan-closing date to grand opening, from Bank of America to Bank of Cages, from FDIC to SOAP.  It should be a great way to reflect back on this very important and exciting time.  So keep a look out here for more information on how we come along.  Also, we're going to be relying heavily on our already strong relationships with our vendors for ways to keep our expenses as low as they can be.  We'll be sure to share some of the cost savings strategies we hear about.

See that window?  That used to be the drive up.  Can you see that little canister right in front of it...that was that thing you put your deposit in that got sucked into the tube.  Cool, right?

Take care everyone and I look forward to talking to you soon!

Great Night at the 'Ole Veterinary Referral Center

Well hats off to the Stacey Simpson-Camelli of Antech, Amy Shields and the entire team at Animal Critical Care and Specialty Group of Malvern, Pa for hosting our discussion Financial Oversight and Pricing for the Busy Practice Manager.  What a terrific evening we all had discussing our pricing, markups and Key Performance Indicators with fellow colleagues from around the south east part of Pa. 

Take a look at this facility, would you? 

You know I’m a big stickler for service…well VRC seems to have it down.  When I entered their lobby, every Client Care Service person looked up and smiled and gave me a hearty hello.  Signs were already in place directing attendees to the conference room and once there, we were all treated to a delicious catered meal.

Okay, so I should have had everyone pose…

Thanks to all who expressed an interest in a stronger Pennsylvania State coalition of managers.  And how great was it that Dr. Ron Kraft, Secretary Treasurer of the PVMA was there to tell us about the New Membership Category for managers through their organization?  I’ll be sure to follow up with Dr. K in the upcoming weeks and contact all who expressed interest in our group to see what venues we can use to bring us together better.  I’ll also reach out to Dr. Mary Bryant and Deborah Harvey of Vetstreet.  I have a feeling that between these very supportive industry veterans, we’ll be able to come up with some great resources to make our jobs more enjoyable and successful.   Anyone else have an idea on who we should contact or a direction in which they would like to see us move forward?

I had lots of inquiries about the formulas I discussed as well as my online classes.  I’ve listed these on a separate blog page to make it easier for you print out and have on hand.  Also, check out the live online classes that I’ll be offering in the month of April.  These are 40 minutes long…just enough time before things start melting down and you everyone has to go back to their prospective posts.  Here’s a breakdown of how the classes work.

1.  Send me an email that you are interested in having your staff attend.  I need one email address for each terminal that you plan on using.  Please note that your staff members can log in from home too.  There is no additional cost, just an honor system that you are paying for your staff alone and no other practice.

2.  I’ll send you a link to make a payment of 35 dollars through Paypal.  Make the payment and you’ll receive an invitation-link for each of the email addresses you sent to me.  Remember 35 dollars buys your entire staff access to the webinar.

3.  Log onto the webinar at the designated time, sit back and watch.  Ask any questions you like during the live broadcast either by raising your hand, speaking or typing me text in a private chat window.

4.  At the end of the class, each participant will receive great, user-friendly handouts that can be placed into your training manual or that can be the start of one you have yet to create!

5.  Remember, these are excellent classes for Client Services and Assistants alike.  They not only train the medicine, but they train the language we should use when talking with our clients.  They are designed to make a direct impact on your patient and client care and consequently improve your bottom line.

Common KPI's and other tools for Financial Oversight

Common Key Performance Ratios and other tools for Veterinary Practice Financial Oversight

Return on Sales= Net Profit/ Gross Sales

Net Operating Income= Money left over from Gross Sales after all reasonable expenses have been paid.

Average Invoice=  Gross revenue in a period/# of invoices in the same period

Average Client Invoice= Gross revenue in a period/ # of clients seen in the same period

Average Patient Invoice= Gross revenue in a period/# of patients seen in the same period.

Client Retention= Active Clients previous period+ new clients this period- active clients this period= # of clients lost (you may wish to increase the active search for clients ‘this period’ to be 18 months to account for stragglers)

New Client Retention=  New Clients seen last period and this period – New clients seen last period

Value of a lost client= avg # of pets per owner X avg transaction X avg # of visits per client X # of years client owns pets X number of friends client may refer over the life time of a pet

Financial Terms Defined: 

Gross Revenue:  Total Income for a practice (found at the top of the Profit and Loss Statement)

COGS:  Cost of Goods Sold.  These are your variable expenses or all of the expenses that change proportionately depending on the amount of business you do.  COGS for a health practice should be 18-22%.  Aim for 14-18 % if you are a hospital with a small staff and a straight- forward case load, but even larger practices should not exceed 22%.  Referral hospitals often have a much higher COGS.

Gross Profit:  Money left over after you take out the COGS

Expenses:  Listed after the COGS in the Profit and Loss.  These are a practice’s fixed and semi-fixed expenses.  The biggest expense in this section of the profit loss is payroll.

Net Profit:  The amount of revenue left over after all the COGS and the Fixed and Semi Fixed expenses have been removed.

Pricing:

Pricing Calculator=

Fixed Costs per minute + Semi Fixed Costs per minute+ Minutes it takes to do a service+ material/lab/radiological costs to do the service+ desired markup = price

Formulas to determine markup:

If you are looking for a mark up on cost the formula is

Cost+ (Desired Markup X Costs)= Final Price

If you are looking for a mark up on final price the formula is

Costs + (Desired Mark up X Final Price)= Final Price

If you are paying doctors on production and want to include your doctor production costs in the final price the formula is:

Costs + ((Desired Mark Up + Doctor Production) X Final Price)= Final Price

April Calendar of Continuing Education

Hey Everyone, here is the Continuing Education Class Calendar for April 2011

Here's how you do it:  For an invitation to this live webinar, send an email to bash@halowconsulting.com and provide a list of those members of your team who will be attending. One email per terminal please, so if you have more than one employee at one desktop, you only need to provide one email address of one of the attendees who will be at that terminal.  Once we receive your note, you will be provided with a link to make a 35 dollar payment to PayPal.  This payment covers all the members of your team and there is no limit on the number from one hospital that can attend.  Once we receive payment, we’ll provide you with an electronic invite to use when signing onto the class.  If you have additional questions, send us an email at the above address.   We look forward to seeing you there!

April 12^th, 1pm  Diarrhea in Dogs and Cats.  This class gives receptionists and veterinary assistants a solid understanding of the common reason pets get diarrhea.  We spend a great deal of time explaining why a visit to a veterinarian for diarrhea cases is important and how it can save both the pet and the owner a lot of needless discomfort and concern.  This class comes with a great triage sheet that team members can use on the phone to assist in booking the appointment and explaining the need for a visit.

April 12^th, 3pm  Endoparasites.  With so many of us sending out fecal samples to laboratories and seeing an increase in positives, it’s important for all of our team members to know about the endoparasites we are identifying.  This class is not just the medicine behind the parasite, however; but handouts on the common medications we use to treat infections as well as information our team members can share with clients to convince owners to take precautionary steps against infection.

April 27^th, 1pm  Restraint for the Receptionist and Assistant.  This class, complete with photos, discusses safety measures all of us should use when working with animals.  We cover basic interaction with our patients in the lobby, removing patients from and placing them into carriers, restraining patients for catheters and blood draws, restraining patients for examinations, and removing patients from cages.   We also discuss the tools we have at our practices to keep us safe and how best to use them.