Real life stories Flashcards
what is ‘the sleeper’ practice setup?
◦ One DVM
◦ Two Staff
◦ Lower than Average Number of Clients
> 200 fewer than average
◦ Half hour appointments
◦ Twice the average net income
Critical Success Factors for the sleeper
◦ Half hour appointments
◦ Lower than the average number of clients
◦ Offering “A” level care to all clients
◦ Charging Fee Guide
◦ Keeping Costs Low
the sleeper - why does he want half hour appointments?
◦ Half hour appointments fit his personality
Does not like to operate under pressure. The pressure of having a client waiting is too much so appointments are half hour apart so all the work from one can be done before the next arrives.
The sleeper likes to be hands on so the half hour appointments allow for technical procedures.
the sleeper
- lower than average number of clients allows for what?
Allows for more time with each client
Likes to get to know all clients
Wants to do own emergencies – lower client numbers make this manageable
Able to work fewer than average hours
> 30 hours per week
Able to shut the whole thing down for a week at a time
the sleeper
- how does she offer the best care to all clients?
Surrounds herself with the best clients.
More services to clients – better medicine
Clients purchase all pet supplies from hospital
the sleeper
- how does charging fee guide help income?
◦ Charging the Fee Guide +
Higher than average revenue from “A” Clients
Result is very high revenue per hour
how does the sleeper keep costs down?
Lower than average number of staff
Not purchasing unnecessary equipment – you can’t be everything to everyone
> Dot matrix printer
Smaller practice – one exam room is all that is needed for Sleeper
the sleeper revenue, expenses, income - compared to average?
◦ Gross Revenue 20% higher
> Fewer clients – higher revenue per client
◦ Expenses are 50% of gross – compared to 35%
> Lower rent with smaller building
> Lower staff costs
◦ Net Income is double the average
◦ 1,800 hours per year
what is ‘the slacker’ practice
◦ Three DVM’s
> All Female
◦ Lower than Average Number of Clients
> 1000 vs 1,200 (average)
◦ Less than 30 hours per week
> 1000 hours per DVM
◦ Way Higher than average net income
the slacker critical success factors
◦ Efficient Time Management
◦ Delegation
◦ Respect for Personal Time
the slacker - how do they have efficient time management?
◦ Scheduled for 8am to 4pm ◦ Show up at 7:59 am
◦ Leave at 4:00 pm sharp
Figure out a way to make it happen
> Is time management genetic?
the slacker - how do they approach delegation?
Vets do no technical stuff
Anything that can be delegated is delegated
the slacker - how do they approach personal time?
Respect for personal time
Every other day the “Slacker” takes three hours to go riding
She and the staff respect this OBLIGATION
Riding is given as much respect as a meeting with the banker
the slacker - results for revenue, expenses, income, hours compared to average
The Result:
Very high revenue per DVM hour
◦ Expenses are 50% of gross
Lower staff costs
Low equipment costs
◦ Net Income is way above average
◦ Half the average-1,000 hours per year
the first million dollar DVM
- clients, hours? how did they do it?
◦ Associate
◦ Higher than Average Number of Clients
> 2,400 vs 1,200 (average)
◦ Average hours year
> 1,800 plus
◦ Higher than average revenue, production and above
average net income
