Tracking and measuring veterinary practice revenue growth can be done with one click in Hippo Manager! It’s important and easy to understand revenue growth month to month, year to year and during a custom window. Because revenue growth ratio is a valuable KPI (key performance indicator) and represents the overall health of your veterinary business.
How Do I Track Veterinary Practice Revenue Growth?
The practice performance tracker will open a window that lets users select a 12-week rolling period to analyze revenue growth month to month and year over year. Also, data can be grouped by column to take a deeper look into revenue by provider, location and more. The graphical output is an instant interpretation of the data. Look for the familiar “hockey stick” for positive revenue growth at each location by category type.
Take a look at this short video on practice performance KPIs and measuring veterinary practice revenue growth:
Why Measure Revenue Growth?
Revenue growth shows the performance of any business. Because, if the performance is good, it enables practices and staff to get into a flow of supply and demand. Understanding revenue growth can also ready a practice for acquisition.
Measuring and tracking veterinary practice revenue growth is CRITICAL to large hospital enterprise and multi-unit locations. The revenue growth ratio of a large multi-unit veterinary hospital is an important part of the integrated financial model. Tracking revenue, labor, and inventory are integral to a holistic business management approach for large veterinary clinics.
Revenue growth is a KPI and measurable veterinary industry benchmark. Because understanding veterinary practice growth is important for future projections such as anticipating staff and business needs. Furthermore, veterinary practice revenue growth can indicate the need for more robust marketing efforts to gain new clients.
We’ve written about them here. Learn what the valuable KPIs are, how to track them and monitor for multi-unit scalability, practice services expansion and more.
Revenue Ratio Growth + Practice Performance Tracker
Revenue growth, though vital, is not the only important KPI veterinary practice owners should be tracking. Furthermore, the importance of built-in reporting to your veterinary software cannot be understated. Built-in reporting to understand provider production performance, new client growth, and practice performance should be tracked and measured for successes and opportunities.
Like reports? They’re awesome in Hippo Manager! Take a look at the 8 most helpful veterinary software reports that are also built-in to Hippo Manager.