Veterinary benchmarks. Hassle free and ready to go!
Veterinary benchmarks, staff performance and KPI dashboards.
Service professionals running their own practices have some challenging problems and frustrations:
- Are you overwhelmed by what you should be monitoring, you don’t know where to start? Do you have information overload?
- Do you have a feeling that you may be missing some key issue?
- Do you feel uncertain of where to focus your business?
- Are you worried about how your staff are performing? Are some staff are losing you money but you don’t know which ones?
- Are you working your butt off and making no money and you don’t know why?
- Do you have a fear of failure, fear of losing money, fear of losing control?
Find out how we solve these problems
How it started
An accounting firm in Brisbane, Australia decided that they wanted to specialise and work only with service professionals like veterinary surgeons and dentists. This firm realised that business owners needed more than just their tax completed. They needed accurate business performance reports, benchmarks and KPIs.
In the veterinary industry, accurate veterinary benchmarks were very hard to get because all the information was hidden away in their practice management systems. Furthermore, their accounting information could be held in one of many different accounting systems. This problem was also true for the dental industry.
In both professions, business owners were running around like headless chickens, trying to look after patients during the day and were left with very little time to monitor their business and their staff. Chelating spreadsheets and spending hours every week to calculate profitability and staff performance was just not an option, they needed something quick and easy.
To solve this problem, the accounting firm joined forces with a very clever software company and created Profitdiagnostix – a system that would automatically collect all the data from practice management systems and accounting software every day. It would then automatically build all the reports and dashboards that were required.
With Profitdiagnostix it is now possible to measure the following parameters with with accuracy:
- Dental and veterinary benchmarks for practices. Benchmark yourself against national averages for the volume of patients you see, average invoice value and types of procedures you perform. In fact you can be benchmarked against anything that you invoice.
- Dental and veterinary staff performance and productivity. Dental and veterinary benchmarks don’t need to be restricted to the entire business! You can measure most parameters for each staff member also.
- Clear financial reports and projections. This uses the data that is hidden away in your accounting software and tidies it up so that it is easy to read and understand. Dental and veterinary benchmarks can therefore be extended to your financial reporting. You can calculate and compare how your cost of goods sold, wages, laboratory expenses and most other expenses stack up against national averages for your industry.