The AVMA is seeking one practice owner or senior associate and one practice manager from each of 50 clinics to participate in a new program dedicated to driving practice profitability over a 12-month period.
The program is for practices trying to manage overall economic stability, to understand basic financial diagnostics, and to grow revenues—without the need for raising prices—using data and market information.
In August, the pilot group of practice owners and managers from the 50 clinics will complete a core curriculum of 16 hours of continuing education on practice profitability, part of the Practice Management Section at the AVMA Annual Convention in San Antonio. These same sessions also are open to other convention attendees for the same CE credit on a first-come, first-served basis. For up to 12 months, program participants will receive ongoing guidance from the AVMA to implement tactics obtained from the sessions.
The AVMA collaborated with Veterinary Management Groups, Banfield Pet Hospital, and Henry Schein Animal Health on the core sessions. The focus areas are finance, operations, strategies, and economics and markets.
Dr. Scott Spaulding, chair of the AVMA Veterinary Economics Strategy Committee, and Jodie Taggett, AVMA director of partnerships and program development, wrote: “We are really enthused about these core sessions because not only will they deliver tactical and practical information, but this information is coming from proprietary resources successfully used by partners in the profession. Each partner came to the table with a unique focus and perspective and worked with AVMA to collaboratively address critical financial issues for the profession.”
The new program for the 50 clinics capitalizes on the partnership between practice owner and practice manager, pairing them up to learn and use simple techniques to assess and build practice profitability. The program starts with an orientation and lunch at noon Friday, Aug. 5. Core sessions run four hours daily from Friday through Monday, Aug. 8. Each clinic participating in the pilot group that completes the curriculum and is part of the follow-up effort will receive a full refund on the registration fee for the practice manager.
June 1 is the deadline to enroll in the pilot program. Email avmaeconavma [dot] org for more information or to sign up.