What if I told you that a veterinarian could spend quality time with clients, diagnose and treat patients, and walk into a surgical suite scrubbed in, with the patient all prepped and ready to begin cutting?
Setting veterinary fees is a perennial topic of discussion within the veterinary industry, and with good reason: much of a practice’s success hinges on deploying the right pricing strategy. Some pricing methods may lead you to undercharge for your services and make the costly mistake of leaving money on the table. Other fee-setting strategies may lead you to overcharge and lose customers to less expensive competitors. Obviously, the goal is to implement a strategy that keeps prices within an elusive sweet spot that maximizes revenue while still being competitive enough to keep your customers happy. The conundrum that practices face is actually knowing where their pricing lands. How do you know if your fees are too low or too high? How can you be sure your fees strike that perfect balance of fairness and profitability? The truth is that you can never fully understand and gain control of your pricing until you’ve adopted the right pricing strategy. Selecting The Right Veterinary Pricing Strategy
If you are on the hunt for another veterinarian or have recently hired one, then it’s important to have a plan for how to get the best results from your new doctor. How can you maximize the revenue that your new doctor generates? Here are four ways to ensure your new associate has a positive impact on the bottom line for your practice. Set Efficiency Benchmarks
Does your veterinary staff truly know what they cost the business? This is an important question for practice owners and managers. It becomes key when staff members don’t support your pricing plans, discount too much or too often, or don’t invoice for a service because they forget or feel it’s too costly.