Veterinary
Benchmarking & profitability
As part of your year end accounts, this service will optimise your profitability.
How can we help you?
We’ll analyse your practice, identify its strengths and weaknesses, show where performance can be improved and help you to prepare an action plan.
Our approach is adaptive, realistic and it’s adjusted to your practice’s specialty, number of owners, location, and staffing. Our benchmarking reports are equally flexible and cover all these areas:
- Practice turnover
- Turnover per vet
- Gross profit performance
- Salaries
- Overheads
- Profitability
- Fees
Benchmarking helps to identify key performance indicators that you need to monitor in future.
Pricing structures may also need attention. Our analysis shows how your practice fees compare with the market and indicates where changes can be made to improve profitability.
Case study
Key Performance Indicators (KPIs)
Background: A client approached us to assist in helping them put into place some KPIs for them to monitor and improve practice performance.
How we helped: We worked with our client to identify the five most worthwhile KPIs to track for them and their practice. We used this information to provide a quarterly report as a visual aid which demonstrated trends and where further improvements were needed. We suggested the practice owners work with their team, through better communication of the practice goals and mentoring, to ensure the team were aware of the KPIs and improvements required.
The outcome: The practice is more profitable and the team are feeling happier as they are more aligned with the goals of the practice.
