Practice owners often tell us they don’t have enough hours in the day to manage staff, receive inventory, set standard operating procedures, and put out fires – all while trying to provide the best medical care for patients. In this situation, it’s easy to see how important aspects of a business can fall through the cracks.
During initial practice set up, owners often spend a lot of time configuring fee schedules for profitability. However, most practices fail to maintain or update these regularly.
How would losing $50,000 impact your bottom line?
It’s common to walk into a busy practice and see staff members talking to customers on the telephone, patients being checked in, clients picking up prescriptions, full exam rooms, and inventory being delivered. While this is all happening, the practice owner and practice manager are having a discussion in the office about how the practice is busy but are still losing money. The end result is that their practice loses value and they have to let a trusted employee go.
What if your costs and selling prices could automatically update when you receive your inventory? By automating their fee schedule, many practices have saved thousands of dollars annually without losing staff time. This has allowed them to keep consistent margins while using employee time more efficiently to focus on practice growth and patient care. How would a similar opportunity benefit your practice?
By partnering with Henry Schein Veterinary Solutions, our practice management software can simplify your inventory management process by automatically increasing the selling prices to your customers as your inventory costs increase – boosting your profits.