Ideal ratios, Values, Etc Flashcards
Veterinary / staff ratio =
2:1 (2 staff per vet)
Active income / passive income =
50/50
Breakeven markup for clinics = 
40%
Training investment annually =
1-2% of Hospital revenue
70/20/10 learning and development =
70% on the job training
20% coaching
10% formal courses, lectures
Bonding rate of clients =
70% if tenured doctor
25% for new doctors
Staff meetings should be no longer than…
45 minutes
IRS taxable fringe benefits =
Discount amount provided to employee more than 20% on services
AR should be no higher than ____% of gross revenue.
Over __% warrants focus to correct
1.5%
3%
Timeframe to provide employee copy of their employment records =
2-5 Business days
File retention times
___ yr: Personnel file records, per Title VII
___ yrs: Employee info such as I-9, hiring records, test results, employment actions, anything pertaining to FMLA
___ yrs: tax records, payroll records such as SSN, pay rate, pension payments, etc.
___ yrs: work-related illnesses and injuries
___ yrs: medical exam findings, dosimetry reports, toxic exposure records, blood-borne pathogen records
1 3 4 5 30
Employee accounts balances should not exceed…
$100
Embezzlement accounts for __%+ of gross revenue and small businesses.
____% of practices have been victims
5%+
67.8%
What percentage of revenue should be for advertising retail products?
1-3%
To push the envelope for profitability, pricing should have ___ to ___% resistance
15-20%
Shopper calls:
___% are directly concerned about price
___% are looking for the best veterinarian to take care of pets
13%
87%
New:Lost clients monthly
(Lost includes rec or sent elsewhere, deceased pets, etc.)
6: 1 = significant growth
5: 1 - 4:1 = Needs investigation for the reason for the lost clients or slow growth of new clients
3: 1 - 1:1 = indicates poor growth and needs to be aggressively researched and improved
Answer phone calls by the ___ ring
3rd
Client determines likeability of hospital within ____ seconds
90
Follow up calls should happen within ___ hours of visit.
48
A practice should retain __-__% of clients over 3 years with an average of __-__% clients lost per year.
70-75%
10-15%
Clients retain __% of what they are told, __% of what they read
20%
30%
The average person needs to hear about something how many times before they purchase?
5 times
Inventory holding cost typically range from __-__% of true total cost
8-15%
Combined ordering and holding costs =
25-35% of true total cost
Practice profitability should be __%
12%
Pareto’s 80/20 Rule:
20% of items account for 80% of revenue; 80% of cost exist in 20% of items, 80% of profit comes from 20% of products sold
Implement new software over how many months if going from paper records to digital?
6-12 months
How many known zoonotic diseases exist?
1400
