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PRACTICE PROFIT BUILDER COURSE

 

Whether it’s the day-to-day running of your practice finances or the strategic planning required to push your profit upwards of 20%, the financial aspects of a veterinary practice can be confusing and hard to confront.

Some rare DVMs have a natural penchant, an inclination, for such activity but most of us in private practice do not. Most are like me that either build, buy-in or buy-out out a practice and blindly hope with some hard work that things will work out. And they can, to a point. Veterinary practices are generally somewhat profitable and largely avoid collapse with hard work alone, but so many unnecessarily struggle because the owners lack the training and the implementation of simple standard financial tools to build profit.

If you have ANY of following signs you should do this course:

  • Confusion of what you should be doing as a practice owner on a weekly basis, monthly and yearly basis?
  • Lacking data to make financial decisions?
  • Less than a 20% profit (the money left over AFTER you pay yourself as a DVM)?
  • Using a non-veterinary accounting chart of accounts?
  • Not paying your Credit Cards off every month?
  • Having to hold your paycheck?
  • Suppliers holding back on shipments until they get paid?
  • Losing staff from not being able to pay well?
  • Think you should be more efficient?
  • Worried that staff will push-back on increasing fees?

I created the Practice Profit Builder (PPB) course after my 15 years of practice ownership and 20 years of consulting that took me on a journey from really not knowing anything (“Pay-day is every 2-weeks) to researching and implementing simple financial tools and becoming a master Chief Financial Officer (CFO). With this skill I was 100% in control of the practice finances and pushed my profit above 20%, all with me working about 20-25 hours a week in a highly competitive environment. Seems too hard to grasp? Well sure, but while you are very smart (Yes, you graduated from Vet School, right?), you simply need to have the proper tools.

The Veterinary PPB gives you the basic tools of:

  • Your “Hat” as the CFO of practice. Do you have what it takes? (Trust me – you do!) …
  • Basic principles of organization and efficiency…
  • What is “Profit” and the 3 important steps to increasing it…
  • The Veterinary Chart of Accounts, designed specifically for a veterinary practice to track income, expenses and profit, to upload into your accounting software and use for years to come…
  • Analysing staff ratios, to make sure you have the perfect combination of DVMs, CSRs and Tech staff, not to much and not too little…
  • Pro-sal vs Profit Sharing for Associate DVMs…
  • Calculating DVM salaries perfect for YOUR practice, that keep you super competitive in today’s market but not at the expense of sacrificing profit…
  • How to increase income… 3 ways…?
  • How to calculate your ideal fees and any increases needed to keep you in the “goldilocks zone” of not to hot and not too cold, and just perfect for the disposable income of your community…
  • Basic Practice Benchmarks of performance and checking out your practice with the “Practice Potential Analysis” tool …
  • Understanding Profit & Loss Statements for a monthly cross-check of your profitability (no, don’t just wait to the end of the year with your tax submission – that’s too late!)…
  • The 10-minute weekly Financial Plan that curbs your spending, leaving more left over for the end of the month, staff bonuses, etc…
  • And more…

Reach out and contact us today!

 

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Testimonials

“ Absolutely invaluable. Been wanting to get a lot of these numbers to get calculations from, definitions of terms, etc. Lot of additional food for thought that I was not expecting but has already proven to have made the entire investment that much more valuable. Looking forward to working with you to implement these programs.”

JD Owner/PM.

 

“ Super successful class. I learned there actually is a cool formula for calculating pay for a new Vet. I have looked for this information for years.”

Renee PM.

 

“As I am about to open a practice in the summer. I thought this was a good opportunity to start in the right step to learn in growing a practice. I found the course to be very valuable from ideas to using Excel. I feel I am better prepared or at least have an idea of what I will be facing.”

Dr. EC Owner

 

“I am excited to apply to my financial planning and employee flow ideas that I have learned here. Thankyou so much. Inventory control will definitely be changed.”

Dr. AT Owner

 

“Thank you so much! I certainly learned a lot and so much of this information with help us moving forward on all the things we’ve been struggling with! The formulas are so valuable!"

Dr. DJ Owner

 

“This is the perfect start for my new business! Thank you very much for clearing out my financial doubts!!”

Dr. LM Owner

 

“Excited to start putting in the numbers and using this as a guide for future planning. These tools are exactly what I've been looking for. I wish I would have had these sooner. Excellent presentation allowing someone not financial savvy like myself to fully comprehend and understand how to utilize it to make better financial decisions.”

Dr. AH Owner

 

Practice profit builder with Dr Joel Parker was filled with excellent knowledge and tips of how a practice should work to be profitable and soar past normal. This info I will implement immediately as I figure out my spreadsheets! This is a great investment at any age of practice. Thank you Dr. Parker!

Dr. Soulliere Practice Profit Builder Course Attendee