Entries with the topic Finance.
Financials: To start, keep it simple
Mar 18, 2016 by Edward L. Blach, DVM, MS, MBA
To get started with financials, keep it simple. Eventually, you'll want to have three common financial statements: a) income statement, b) statement of cash flow, and c)... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Inventory management will improve profitability
Mar 16, 2016 by Edward L. Blach, DVM, MS, MBA
Inventory management represents one of your biggest opportunities to improve profitability. Inventory and the services required to run a practice (Cost of Professional Services - COPS) represent the second... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Getting Started ,Optimize Inventory and Suppliers ,Supplier Wednesday
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Financial Friday will help you get your financials in order
Mar 5, 2016 by Andrew Clark
Financial Friday - March 4, 2016 The mission of www.ismypracticehealthy.com is to lead our readers on an educational journey, presenting weekly veterinary business knowledge using brief, easily understandable, impactful management... [ Continue Reading ]
Topics: Finance ,Financial Friday
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Remember to input your February data into your dashboard
Mar 3, 2016 by Edward L. Blach, DVM, MS, MBA
To be most effective, it is important that you enter your February data into the data dashboard as soon as possible to review the up-to-date trends. Examine Inventory and... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Management ,Summary Saturday
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Five areas to focus
Dec 10, 2015 by Edward L. Blach, DVM, MS, MBA
From the Merck-Henry Schein Study, significant opportunities exist in five areas to focus management efforts to improve profitability and practice value including the following: improve team management including proactively managing... [ Continue Reading ]
Topics: Build and Lead Your Team ,Finance ,Getting Started ,Management ,Optimize Inventory and Suppliers ,Provide Exemplary Care ,Sales and Marketing
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Prepare for 2016
Nov 17, 2015 by Edward L. Blach, DVM, MS, MBA
As 2015 comes to a close, we need to look forward and take steps to prepare for 2016. Proper planning and preparation now will improve your likelihood of achieving your objectives... [ Continue Reading ]
Topics: Featured 2 ,Build and Lead Your Team ,Finance ,Management ,Provide Exemplary Care
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Lock Your Pharmacy
Oct 14, 2015 by Edward L. Blach, DVM, MS, MBA
The Cost of Professional Services of which Inventory Costs are the largest contributor, is the second highest expense area for most veterinary practices. Yet, in the Merck-Henry Schein Study,... [ Continue Reading ]
Topics: Finance ,Getting Started ,Management ,Optimize Inventory and Suppliers
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Merck-Henry Schein Study - Management Practices in Use
Oct 12, 2015 by Edward L. Blach, DVM, MS, MBA
The Merck-Henry Schein Study was conducted to provide insights into the economic situation from 2007 through 2012 with equine practices. Four hundred ninety-seven respondents provided feedback. In addition, the results... [ Continue Reading ]
Topics: Administration ,Finance ,Getting Started ,Management
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Veterinary Research funding changes
Sep 30, 2015 by Edward L. Blach, DVM, MS, MBA
Academic veterinarians indicated that there were three different groups relative to research funding: There was an increase in the number who reported a decline in research funding from 2007 to 2012. ... [ Continue Reading ]
Topics: Finance
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Economic Rebound in Equine Practice is Real
Aug 14, 2015 by Edward L. Blach, DVM, MS, MBA
The Merck-Henry Schein National Equine Veterinary Economic Study collected data from members of the American Association of Equine Practitioners for the years 2007 through 2012. There was strong evidence that the... [ Continue Reading ]
Topics: Finance ,Management
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