Does your team know the top 5 veterinary practice key performance indicators and how to evaluate them for practice performance? Knowing the top 5 KPIs and how to track them is integral to every veterinary practice success. These key performance indicators are built-in to Hippo Manager’s awesome reporting suite and are accessible through the practice performance report.
What Are The Top 5 Veterinary Practice Key Performance Indicators?
Veterinary practice KPIs are used to evaluate overall performance and should be tracked against industry benchmarks. Easily run the practice performance report in seconds that’s built-in to Hippo Manager to see detailed information and overall growth or decline.
- Patient Growth
- New Client
- Provider Sales
- Revenue Growth
- Ratio Growth
The report can produce practice performance metrics over a set period of time; weekly, monthly, annually etc. and can be run in seconds. This specific breakdown can outline how well a practice performs over seasons, with particular providers or after a marketing campaign. As a result, the performance practice report assists with calculating projected revenue.
How can I view my Veterinary Practice KPIs?
Through the practice performance report. We developed this report so that veterinarians could clearly and more easily understand their vital business metrics. Because veterinary professionals care so much about animals that they took at least one semester of inorganic chemistry in college! And how many semesters in veterinary practice KPIs? Exactly.
Take a look at how this report is run in real-time and get a demo here.
Why are these Veterinary Practice KPIs helpful?
They are a standard set of metrics that can quickly gauge the overall health of a veterinary practice business. Because, veterinary professionals are rarely B2C marketers, accountants, fundraisers or logistics coordinators. However, those job titles are quite often seemingly required as part of the animal care field!
(Go hug your veterinarian/their staff right now)
So, these top 5 practice key performance indicators are important in readying a practice for many things. Such as the right timing for staff expansion, location expansion, services expansion. Furthermore, the practice performance report can identify trends and readiness for practice acquisition.
What can the Practice Performance Metrics show me?
The practice performance report can produce valuable metrics that can answer your practice’s most burning questions about its operations. Because veterinary software should be able to help practices in evaluating the most important core metrics about business and patient care.
- Are new clients coming in at a steady pace?
- Has the number of patients treated grown year over year?
- What is the ratio or, percentage growth of revenue year over year, or month over month for a particular period?
- Can I afford a new staff member right now?
- Can my practice add a new service?
ETC… you get the idea.
Tracking Veterinary Practice KPIs
Especially in Hippo Manager. Run the practice performance report as many times and over as many periods as needed. Furthermore, it’s possible to quantify your patient care efforts over things like new client growth and revenue growth.
Hippo Manager empowers veterinary professionals to thrive by providing more features and more functionality than any other cloud provider on the market. Our team is dedicated to enabling veterinary professionals to achieve a better work-life balance alongside excellent patient care. Call or text a team member today 877 819 0159 or start a no-obligation free trial here.