A 25 year old health care practice management firm, rescue Veterinary practices in the what is being called the worse economic times in 50 years with recommendations most faltering practices neglect. The great majority of veterinarians are held in the highest esteem by their clients, whether a small pet owner, equestrian professional or farmer, due to their medical expertise. Yet, many make poor business decisions and are losing their practice.
“In economic turn downs, such as the ones we are experiencing now, we see veterinary practices tighten their belts in unhealthy ways. By this we mean that they get very worried and reduce their promotion,” reports Fred King, CEO of Silkin Management Group. “They may start letting go of staff and making do with fewer personnel.”
Current economic conditions seem to demand that veterinarians cut corners but this causes lower standards of service and patient care. When the quality of service goes down clients become unhappy with their pet or animal’s care and start looking for another vet. That clients demand good animal health care is demonstrated by a 2006 survey of 50,000 pet owners that revealed almost all pet owners feel a strong human-animal bond. About 49.7 percent of survey respondents consider pets to be family, and 48.2 percent consider pets to be companions.
“This situation makes it an excellent time for veterinarians making the correct management decisions to capture more market share and increase their productivity,” explains King. “We help veterinary practices know exactly what to do to in each economic cycle so they are making correct management decisions that continually grow their practice.”
For those veterinarians wanting to take advantage of these tough economic times but who don’t want to start with any financial investment, Silkin Management Group offers a 2 hour practice analysis at no-charge. All the veterinarians’ questions are answered by a veteran senior analyst. Silkin analysts have worked with veterinary practices in every part of the country. They have a wealth of experience and an understanding of the issues veterinary practices face on a daily basis.
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