Growing your practice's bottom line
If the cost of consults was increased by £2 over a 12 month period, there would be in the region of £4000 more income.
"A simple way to grow your bottom line" was how Mr Sheridan described his advice on consult charges during a lecture at London Vet Show.
Whatever our main consult charge may be, the fact is that if you work out the average consult charge for your practice, it will be much lower than this.
The reasons are simple - it's a mixture of free consults, second consults and charging for second consults instead of a full price first consult. We know this happens in all practices and probably we will never be totally able to change this.
However, there is a simple way to increase this basic and vital income. If the cost of consults was increased by £2 over a 12 month period, based on a single vet carrying out 2,000 consults, there would be in the region of £4000 more income.
Sounds simple, but of course nothing is ever quite that simple. Nevertheless this action would significantly increase the bottom line and this has got to be financial progress.
RCVS' Mind Matters Initiative (MMI) has launched round two of its veterinary mental health research grants.
