What would your Practice Manager say are among the most helpful veterinary reports? As it turns out, there are a total of eight (8) reports deemed “most helpful” by surveyed Practice Managers.
The Veterinary Hospital Managers Association reports these 8 helpful veterinary PIMS reports in their article “PIMS Data: What is Most Important to You?”
These 8 most helpful veterinary practice reports are built-in to Hippo Manager!
What are the 8 Most Helpful Veterinary Reports?
1) End of Day/Daily Transactions
End of day financials is so important for your veterinary practice. Furthermore, it only takes a few seconds to run EOD veterinary reports in Hippo Manager.
The daily transactions report can give practice managers a great overview of the type and amount for any given day.
Keeping an eye on your daily transactions will show how your numbers are trending! As a result, it’s simpler to predict how close your practice is to those KPIs.
Learn how to run end of day reports for your veterinary practice – click here.
2) New Client Report
Pulling a new client versus current client report can be used to evaluate the effectiveness of marketing campaigns. Because, if your veterinary practice has embarked upon an effort to gain new clients, the new client report is invaluable when understanding these efforts.
3) Provider Production Report
We’ve written extensively about this report in Hippo Manager and its always understated value. Take a look at areas and providers within your veterinary practice that are meeting benchmarks and those that need improvement.
The provider production report should be used to MAKE MORE $$$! See how you can quickly analyze this report in Hippo Manager and use it to identify profit-making areas. Quickly capitalize on areas that are meeting benchmarks. Similarly, start an improvement plan for those not achieving goals.
4) Transaction Reports
How many transactions is your veterinary practice running?
What type of transactions?
Is the average transaction where it should be according to benchmarks?
These are quick questions that practice managers and owners should be asking at least, weekly!
Easily run transaction reports in Hippo Manager. Sort by type, amount, within a period and more. Dive deep into understanding the financial health of your veterinary practice. Your veterinary practice management software should provide these reports built-in and good news – Hippo Manager does!
Transaction reports SHOULD be on the “most helpful veterinary reports” list! That’s for sure!
5) Inventory On-Hand
Mismanaging inventory can be the quickest and most expensive way a veterinary practice can see holes in profit potential. Running an on-hand inventory report should be part of your weekly practice to do list!
Knowing what type and kind of inventory are on-hand will affect prescriptions. Not only that but also the ability to optimize the client experience with additional products to help their pet.
Creating a “stop list” is recommended as part of inventory best practices. Look at what is selling, what is stagnant and if it really helps your veterinary practice bottom line and patient care goals.
Inventory management and control are VITAL to the success of any veterinary practice. Learn how to enact some quick steps today and start controlling inventory management.
6) Accounts Receivable Veterinary Report
Hippo Manager makes financial reporting for veterinarians easy! Check out this article on the various reports, such as accounts receivable and how to run and use them.
We hear this all the time:
I’m a Veterinarian, not an Accountant!
Veterinarians these days need to wear multiple hats. Be health experts on a massive variety of pet types and species, but also, adept business professionals. The need to be focused on patient care and profits simultaneously is a TOUGH JOB!
That’s a LOT to take on so, Hippo Manager has built the financial reporting for veterinarians and made it easy to use and, as simple as possible to access.
Who wouldn’t want to know which area of a veterinary practice is bringing in the bucks? (Not the deer kind, the Benjamins kind.) Although, maybe your veterinary practice sees bucks that are bringing in the bucks and you should see more bucks to make more bucks.
Someone stop me now.
Identifying the amount of revenue generated at a veterinary practice by category is another KPI and benchmarking report. Quickly run revenue generated by each category as defined in Hippo Manager. Use this report to identify high performing areas and optimize them. Easily check for underperformers and evaluate if it’s needed as a good or service.
Also, using a “stop list” method here too is very helpful.
- Is the category properly defined?
- Why is this needed as part of your services or goods?
- Is there a trend that shows a particular category needs to be removed from practice inventory or services?
The open invoice report can be run in seconds in Hippo Manager. Open invoices will show any balances that need to be taken care of and how “aged” they are.
Generate client statements such as the open invoices report in Hippo Manager using the reports section. Read this article on how to locate this report, print or save as PDF. Use open invoices to understand the health of your veterinary business at a glance.
These 8 veterinary practice reports deemed the most helpful, and are also readily available in Hippo Manager. The reports can really change the way a veterinary practice improves the bottom line.
Using these 8 reports is a great start and something that can be done today. However, it is important to utilize all the resources at hand offered by your veterinary software. Using all the available tools and resources will provide a clearer understanding.
The veterinary reports built-in to your practice management software will not only improve business areas but also have an impact on patient care.