VHMA Webinar: Key Performance Indicators
VHMA Member Price: $0 and Nonmember Price: $0
Boosting Your Financial IQ to Maximize Fiscal Performance Webinar Series
Webinar 2 of 4
Key Performance Indicators also referred to as KPIs are some of the most overused and misunderstood terms in business management. Yet KPIs are one of the most important tools a business must use to gauge and improve performance.
Financial analysis sessions can have an overload of metrics and calculations. But this session is different -- this session will demystify KPIs and will teach owners and DVMs simple systems for using them in their practice while avoiding information overload.
Examples throughout the session will show how KPIs can be applied in a veterinary practice to reduce expense and to implement best practices. KPI examples will cover topic areas such as:
Session attendees will understand how KPIs can be used as a benchmarking tool to evaluate current business performance against national averages and how KPIs can create an actionable scorecard for tracking strategies and goals.
Learning Objectives:
1. Understand how KPIs can be used as a benchmarking tool.
2. Identify areas for hospital improvement utilizing KPIs.
3. Track hospital strategies and goals via KPIs.
Original Recording:
Wednesday, August 22, 2018
1:00 PM-2:00 PM EST
Webinar 2 of 4
Key Performance Indicators also referred to as KPIs are some of the most overused and misunderstood terms in business management. Yet KPIs are one of the most important tools a business must use to gauge and improve performance.
Financial analysis sessions can have an overload of metrics and calculations. But this session is different -- this session will demystify KPIs and will teach owners and DVMs simple systems for using them in their practice while avoiding information overload.
Examples throughout the session will show how KPIs can be applied in a veterinary practice to reduce expense and to implement best practices. KPI examples will cover topic areas such as:
- Profits: revenues, direct costs and benchmarking against most-profitable practices.
- Transaction costs: medical, grooming and non-medical.
- Labor costs: flow management, employee benefits and compensation.
- Inventory costs: receiving, storage and turnover.
Session attendees will understand how KPIs can be used as a benchmarking tool to evaluate current business performance against national averages and how KPIs can create an actionable scorecard for tracking strategies and goals.
Learning Objectives:
1. Understand how KPIs can be used as a benchmarking tool.
2. Identify areas for hospital improvement utilizing KPIs.
3. Track hospital strategies and goals via KPIs.
Original Recording:
Wednesday, August 22, 2018
1:00 PM-2:00 PM EST
The Veterinary Hospital Managers Association (VHMA) and Veterinary Medical Association Executives (VMAE) – organizations committed to helping veterinary practices thrive – have entered into a strategic partnership to realize their shared goal of advancing practice health in veterinary medicine. The collaborators are pleased to present a four-part webinar series, Boosting Your Financial IQ to Maximize Fiscal Performance, which is designed to elevate the financial literacy of those involved in veterinary management. The webinars are available free of charge to members of veterinary medical associations!
Credit
CEU1:1.0
Description
Guest presenter: Beth Scott, CPA
Beth Scott is a director in Katz, Sapper & Millerís Business Advisory and Veterinary Services Groups. She has been with the firm since 2004. Beth advises clients in accounting, tax, and business matters and has extensive experience in tax planning, tax compliance, financial statement analysis, forecasts and projections, accounting systems implementation, and key performance indicator reports. As a member of the Veterinary Services Group, Beth provides hospitals with benchmark and profit-enhancement consulting to help increase their profit and practice values. In addition to the day-to-day management of one of the largest national veterinary benchmarking databases, Beth actively participates in speaking engagements and industry membership groups. Beth was instrumental in working with the American Animal Hospital Association (AAHA) and Veterinary Management Group (VMG) to combine their chart of accounts that was subsequently released to the veterinary industry in June of 2017.
