How to make your practice more profitable at Congress 2021

Coronavirus has had a significant impact on the profitability of many practices, that’s why we’ve included 3 finance-based sessions in this year’s VMG SPVS Virtual Congress, 13 – 14 May.

In Managing Debt, Georgina Hills, IVC & VMG will be discussing how, depending on who you speak to, the pandemic has been either good for reducing debt or has made things much worse. It may be you are taking more upfront payments, but consultations in the car park can mean fewer conversations about cost.  For most it is probably a bit of both, but maybe it has created an opportunity to revisit this perennial headache. Good debt management is a mix of water tight systems, transparent pricing, an effective policy re insurance claims and excellent internal and external communication. Added to this is an understanding of your client base and a strong policy on when to write off bad debt.

Starting out as a practice Nurse,George sat the VMG Certificate in Veterinary Practice Management (CVPM) in 2013 – winning the Glynne Davis Memorial Award for outstanding achievement. George now sits on the CVPM exam board and is a VMG Director. In March 2021 George took on the role of Referrals Business Manager for Pride Veterinary Centre and now looks after a multi disciplinary team and referral service in Derby.

In What Makes Some Practices Supersonic, Mark Harwood, Hazlewoods will explore the reasons why some practices really fly. They are super profitable, their teams are happy and staff turnover is low.  So what are they doing that makes them a cut above the rest?  According to Mark Harwood, numbers do matter, and the successful practices know which KPIs to measure, how often, and what to do with the results.  It is also about creating good habits (and minimising the bad!),  attention to detail, a positive mindset, consistency, and teamwork. In this session, Mark will use a mix of different case study practices to drill down to the essentials, comparing and contrasting the supersonic practices.  He will provide some top business tips from these practices together with a check list of ten take outs that you can start implementing in your practice now, to help you and your team take off and keep flying.

Mark has been with Hazlewoods since 2003 and works solely with veterinary practices. Mark advises on a whole range of matters including profit improvement, tax planning, valuations, ownership change and buying and selling practices. Mark regularly writes for the veterinary press and presents to the profession.

In Debt Management & Credit/cashflow, Liz Somerville, VMG & Loch Leven Equine  explores why we manage debt so badly in equine practice? Is it our client base, maybe they expect to be able to run up bills and not pay for several months or worse still move to another practice when they have an emergency at 2am. Or maybe we have trained them through years of offering free credit that this is ok? The impact of poor debt management is huge, it impacts your business’ ability to pay bills and invest in your team, stifles growth and causes many sleepless nights for practice owners. Loch Leven Equine Practice had a good debt management strategy before COVID with weekly invoicing, 14 days credit, a prompt payment discount for payment on the day and payment at the time for new clients. However on 23rd March 2020 everything changed. In this session Liz will share her experience of how she used COVID to make the jump from offering credit to clients to asking for payment on the day and the many positives that have come from it.

Liz is Managing Director and one a founding partners at Loch Leven Equine Practice. The practice has grown from a one vet ambulatory practice to a thriving team of 17 people, working from a purpose-built clinic with full surgical facilities. In 2018 Liz completed her Post Graduate Certificate in Veterinary Business Management with Liverpool University and is currently completing a Diploma in Personal Performance Coaching with The Coaching Academy. Liz is also a VMG Director.

Why not join us to hear from Georgina, Mark and Liz along with a fantastic mix of international speakers, presenting across 4 diverse streams, offering a wide variety of non-clinical sessions on business, leadership and management and more.  There’ll be plenty to interst and inform the entire team!

Click here for the latest full programme details.

We will also be recording all sessions, which means you can catch up on every session after the event, at your leisure.

Tickets are just £130 for members (booking before 12th April) and £200 for non-members, we also have some fantastic group discounts starting at just £100 per person, so why not register today!

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