Practice owners tell us they know they can save time and money by improving their practice efficiency. However, they never seem to have enough hours in the day to manage every aspect of running a busy and growing business, let alone find ways to streamline their operation.
So much time is focused on taking care of customers and patients and managing the day-to-day challenges of a busy practice so it is all too easy for important aspects to fall through the cracks.
Many practice owners incorrectly believe that a busy clinic creates a successful business. The reality is that many inefficiencies are hidden from plain sight, including untrained staff, missed charges and inconsistent standards of care. Practice owners may not realise how much they are losing from the bottom line.
The cost of missed charges and opportunities.
Inefficient business processes and systems can reduce veterinary standards of care and cut up to 15% from average transaction value, 20% from net revenue and 30% from average revenue per customer *
*Warwick Vets & Strathmore Vets Case Studies
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Additional costs of a non-optimised practice
The cost of not training your staff.
Companies that invest £1,000 per employee per year in training realise an average 24% percent more profit than companies that don’t.*
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The cost of using a non-integrated credit card processing system.
This can add three to five minutes per client at checkout and 25 hours of reconciliation time per 500 swipes.
The cost of not replacing old computer hardware.
In a busy veterinary practice, computers are likely to last only three to five years. Older computers do not support newer operating systems, and crashes and slow performance drastically affect staff productivity. This causes waiting room delays, poor customer experience, and customer attrition.
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The cost of poor client communications.
Losing just one appointment a day can cost you up to £18,250 in revenue per year.*
*Average transaction value is £50 – Strathmore Veterinary Clinic Case Study
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Practices with an inventory investment of £17,500 or more per year should be using a management software program to control costs, shorten order fulfilment times and minimise theft and revenue loss.*
*American Animal Hospital Association