Veterinary hospitals provide life-saving care to a wide array of pets, which can prove to be an expensive and challenging business model. Even though a practice may have a reputation for providing quality care, it may not be enough to help them remain in business for the long-term. One of the best ways for an animal hospital practice to ensure future viability is to hire a consultant to examine the operations of the practice and determine the means to increase efficiency and increase revenue. Here are just a few ways a consultant can help any size animal hospital achieve success.
Diversified Income Streams
The single greatest way for an animal hospital to be successful is to have multiple streams of revenue. In addition to providing quality medical care, many clinics have seen increased financial success by operating a compounding clinic, offering boarding services, and providing pet grooming services. Not only does this help attract new customers, but allows a hospital to act as a one-stop shop for pet owners.
One of the greatest expenses for an animal hospital is it’s staff wages. One of the biggest blunders most clinics make is having too many staff on shift. Most hospitals can reduce their staffing costs by as much as 20 percent by choosing to rearrange schedules and place fewer vet technicians and front desk staff on the clock at one time. While this is a viable option, it’s a good idea to let a professional consultant design a scheduled that will save money without sacrificing the quality of service each customer receives.
Maintaining expensive lab equipment is not only a lot of work but can be problematic. The majority of animal hospitals can save money by having lab testing outsourced to a third party. While this does create a longer wait time for results, it is not long enough to have an adverse effect on care. In fact, most labs can perform multiple sample pickups in one day to ensure test results are received as soon as possible.
Any size or type animal hospital should do themselves a favor and contact Nick Bova. He has more than ten years of experience helping animal clinics restructure, which has helped ensure their longevity and financial success. Check out his website today, and take the first step in making a veterinary practice as financially lucrative as possible.