Entries with the topic Financial Friday.
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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Use Key Performance Indicators to Monitor the Health of Your Practice
Apr 17, 2016 by Edward L. Blach, DVM, MS, MBA
Portions of this article are reprinted from an article previously published by this author in Henry Schein's Animal Health Solutions and recently republished by VetAdvantage. To see the... [ Continue Reading ]
Topics: Featured 2 ,Getting Started ,Management ,Optimize Inventory and Suppliers ,Team Tuesday ,Supplier Wednesday ,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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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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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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