Entries with the topic Finance.
Leverage the relationship with your accountant
May 27, 2016 by Andrew Clark
FINANCIAL FRIDAY POP QUIZ: This is our first ‘Financial Friday’ Quiz. All the information necessary to answer this quiz question is contained in prior “Financial... [ Continue Reading ]
Topics: Featured 3 ,Build and Lead Your Team ,Finance ,Financial Friday
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Beware the unintended consequences of delayed billing purchases
May 20, 2016 by Andrew Clark
From time to time, veterinarians purchase drugs and supplies from vendors and receive delayed billing, sometimes delayed as long as two quarters. The vendor makes the offer largely to... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Optimize Inventory and Suppliers ,Financial Friday
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Harvest the Value of Well-Presented Financial Statements
May 13, 2016 by Andrew Clark
Well-presented financial reports have value in excess of decision support for your managerial decisions. Remember that financial reports tell the story of your practice. Our use... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Remove seasonality from your financial metrics
May 6, 2016 by Andrew Clark
Does the seasonality of your practice undermine your confidence when you need to make decisions based on your financials? While doing the research before building www.ismypracticehealthy.com, we... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Profit and Cash are Not The Same
Apr 29, 2016 by Andrew Clark
Unfortunately, I often hear the managing partner of a veterinary business say “I don’t understand what is wrong. At the end of the year, our accountant... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Develop Accurate Bookkeeping Habits
Apr 22, 2016 by Andrew Clark
Strive to consistently record financial results in the same file every month. Imagine what would happen if every once in a while your lab recorded BUN results in the... [ Continue Reading ]
Topics: Featured 3 ,Administration ,Finance ,Financial Friday
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Treat Your Practice Like a Patient
Apr 15, 2016 by Andrew Clark
When you look at lab results on a veterinary patient, you look at a summary page that you can scan efficiently to make your diagnostic or treatment decision. You... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Review financials regularly and timely
Apr 8, 2016 by Edward L. Blach, DVM, MS, MBA
To ensure a healthy practice, it is crucial to have access to up-to-date financial information and metrics. Metrics are key performance indicators that help you monitor the health of... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Learn to read the financial story of a practice
Apr 1, 2016 by Andrew Clark
Imagine financial statements as a 3 to 12 page book that tells the financial story of a business. Everybody has time to read and understand a 12 page book! The table... [ Continue Reading ]
Topics: Featured 3 ,Finance ,Financial Friday
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Manage your P&L
Mar 25, 2016 by Edward L. Blach, DVM, MS, MBA
Your P&L is an accounting of revenues and expenses over a specific period of time. In order to understand and intepret your P&L, you should... [ Continue Reading ]
Topics: Featured 2 ,Finance ,Financial Friday
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