Mar 21, 2017 by Edward L. Blach, DVM, MS, MBA
Practice management isn't easy, because it involves people. The team you build is of utmost importance in the outcome of your veterinary practice, and your leadership is even more crucial.
That said, there are five primary areas that your team should focus on in order to ensure a growing, healthy practice. Those five areas include the following.
- Grow your practice
- grow revenue
- increase the number of clients served
- increase the number of transactions in the practice
- optimize the average transaction fee
- Build and grow your team
- develop leadership in your practice
- support your team
- Optimize inventory and supplier relationships
- work with suppliers to optimize purchasing and service agreements
- manage inventory and related services very closely
- Provide exemplary care
- provide the best veterinary care that matches your clients
- provide exemplary customer care to all clients
- Manage your financials
- manage costs closely, especially labor and inventory
- monitor the status of your practice frequently
- you should know the current financial status of your practice at all times
Practice management isn't easy, but knowing your key areas of focus can simplify it for you. Keep it simple!