By: Rachelanne Hansen | October 30 , 2017
Today’s veterinary practices have an influx of competition and challenges that make it difficult to really focus on growth. Complexities in technology, diagnostics, and veterinary software mean that there is more to learn than ever before. For many practices, daily business can often be hectic and stressful, which can make it challenging to properly manage their business. It’s important to know the signs that your veterinary computer software is hindering your practice growth and potentially causing more work for you and your staff.
If you are experiencing any of these five signs with your current veterinary practice management software, it may be time for a switch:
1. Your software systems aren’t communicating.
It might surprise you to know that missed charges can account for up to 30% of lost revenue every year. An easy way to recoup missed charges is by ensuring that your software for veterinarians, lab and x-ray equipment, and client communication tools are completely integrated. When your vet software “talks” to the other areas in your practice, you are able to capture an entire visit, from appointment setup, to procedure, to recheck scheduling – reducing the possibility of missed charges and human error.
2. You are manually entering inventory.
How often are you checking your inventory fee schedules? In working with many practices, we’ve found that the average practice spends $75,000 in products per full-time doctor per year. With the average practice employing 2.5 full-time doctors, this adds up to $187,500 in inventory costs for the year. If 60% of products are set to fixed pricing in the practice management software, and the practice experiences a typical 14% increase in inventory costs, that results in a loss of almost $16,000 in the first year, which equates to $50,000 over three years. If you inventory system doesn’t automatically adjust pricing, you could be losing thousands of dollars each year! This kind of loss not only affects all other practice operations, but the practice value itself.
3. Your credit card processor isn’t truly integrated.
Have you thought about how much time you spend each day reconciling credit card payments? Integrating your payment processor with your veterinary practice software can save between 3-5 minutes per transaction at checkout, while reducing errors and time spent on redundant data entry and credit card verification. When your processor is integrated, you can also utilize wellness plans and automated payments within your veterinary software. You’ll have the ability to store your clients’ credit card information for recurring payments each month, which can greatly reduce the A/R balance for your practice.
4. Your software doesn’t allow clients to schedule their own appointments.
If your front desk staff spends a large amount of time juggling between answering phone calls, mailing postal reminders, scheduling or confirming appointments, and checking in clients, they’re not only taking time and focus away from your customers, but also spending too much time on manual efforts that most customers no longer respond to. What if you could reduce in-office delays by streamlining front office tasks, and at the same time let clients schedule their appointments when it’s convenient for them? By doing this, you can increase customer satisfaction and retention, boost productivity, and attract a younger generation to your practice.
5. It takes hours to pull monthly reports and analyze key performance indicators (KPIs) regularly.
A successful veterinary business monitors a range of KPIs to increase efficiency and profitability on a regular basis. This can be tedious, particularly if you have to locate the data within your practice management software and perform calculations to derive ratios. Clinics that regularly measure performance are accustomed to pulling monthly or yearly reports to help evaluate overall performance, track expenses, manage inventory, and much more. If your software doesn’t allow you to analyze your practice financials with just a few clicks, you could be wasting hours.
Sometimes, during the hustle and bustle, it’s hard to tell when your software is actually hindering practice growth. With veterinary practice software and integrated solutions from Henry Schein Veterinary Solutions, you’re able to free up staff time, automate processes, and manage your business more efficiently, all while providing better patient care.