Mark Beaney and Andrew Curwen offered their top tips on practice profitability at a SPVS/VPMA event held in Milton Keynes on May 20.

Mark Beaney and Andrew Curwen at profitability event.

The event was attended by a mix of practice owners, managers and vets with an active role in managing practice turnover and driving profitability.

“This is a really challenging time for the profession,” said Mr Curwen, chief executive of XL Vets.

“But there are good opportunities out there for those practices that have a thorough understanding of their finances and prioritise the right things.”

Across the day, Mr Beaney and Mr Curwen touched on everything from how best to motivate your team, the pros and cons of 10-minute versus 15-minute consults and to how to prioritise those things that would have the biggest impact on the bottom line.

Mr Beaney, a partner at Hazlewoods, explained in many practices the most obvious fixes were still often not being made such as tight protocols on charging.

He said: “Hospitalised patients are where a significant amount of money often walks out the door.

“Simple solutions such as checking regularly throughout the day on the work undertaken on each patient and allocating a convenient time to input costs on to the computer can make a big difference.”

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