Four Ways to Increase Practice Revenue

Four Ways to Increase Practice Revenue

Every veterinary practice manager knows there are ways to automate processes, leverage technology, and generate revenue, but what are the most proven strategies? Which tactics are most effective? What should you do first?

Here at Covetrus, we’ve helped thousands of veterinary practices drive more value and boost their bottom line, so we know a thing or two about what works for most businesses. Here are our top four ways to uncover hidden revenue.

One – Automate your appointment reminders.
There are many ways to remind clients about upcoming appointments, but which methods are best? We’ve been in the reminder business for decades, and the answer is three simple words: Mix. It. Up. The more frequently you use the same method—whether it’s emails or postcards or something else—the faster that method fades into the background in your client’s mind. Instead, employ a wide array of appointment reminder methods, ideally with expert help to guide you on what to send to whom and when. And yes, at HSVS, we offer a wide array of appointment reminder options as well as consultants who can help you optimize your strategy…at no extra cost!

Two – Offer wellness plans.
The best way to set appointments is to set expectations first. That can be done through wellness plans, which are agreements between you and your clients about what kinds of check-ins and check-ups their pets need to remain healthy. Check out our recent blog post on wellness plans here!

Three – Run a lab? Bill for it.
It sounds easy, but 17% of lab costs are never billed because there was no automated way to check that labs that were run were matched up to invoices paid. Be sure your practice management software makes it easy for you to connect the dots between your labs, invoices, and income.

Four – Institute forward booking.
The most efficient way to book your next appointment is to ask for it while your client is still at the current appointment. There is no need to worry that you’ll offend clients by forward booking appointments. After all, are you offended when your dentist’s office asks you to book your next appointment after you’ve just had your teeth cleaned? During your exit process, simply ask clients to set their pet’s next appointment.

Even better: When your client is checking out, you don’t want to waste time opening another system to set the next appointment. By ensuring that your practice management system is integrated with your appointment management solution, you’ll be able to lock in that next appointment, fast!

The Bottom Line
There’s no silver bullet for driving practice revenue, but a short list of small things can really make a big impact on your bottom line.

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