A nice, fat bottom line is what every business owner wants to see. If your veterinary practice's bottom line is a bit skinny, it's time to get to work, building your patient roster and increasing revenue. While there is no blanket strategy that will work for all veterinary practices, some strategies stand out from the rest. The most promising strategies increase your presence in the community and in the hearts and minds of your patients. Following are four ways to increase your veterinary practice's bottom line.
Change Your Pricing Model
A price change can affect your bottom line dramatically. If you raise your prices, it stands to reason that you will bring in more money. However, you can get the same results from changing your pricing model. For example, if you change to a la carte pricing, you could see an increase in your average invoice total. It doesn't always have to be an increase either. Lowering your prices can attract more patients, which will boost your bottom line.
Establish a Mobile Unit
Sure, establishing a mobile unit requires an investment. You will need to purchase a unit and stock it with portable equipment. However, you will recoup the cost. A mobile unit allows you to service remote areas and start seeing larger patients, like farm animals. A mobile unit also increases your presence in the community. Each time you participate in a community event, your practice will get recognition.
Set up Automatic Reminders
People are busy, and they don't always keep scheduled appointments or remember when it's time to bring their pet in. Setting up automatic reminders will help. In addition to reminding patients of an upcoming appointment, use reminders to let patients know that it's time for their annual exam.
Utilize Social Media
If you're not utilizing social media, it's time to start. Strong bonds are formed when you interact with the community via social media. Share pictures of pets that you see in your practice, educate them about the health of their pet -- anything you do will help establish you as the go-to veterinary office in the community.
If your veterinary practice could handle more clients than it is currently handling, it's time for you to look for ways to get new patients to come in while ensuring that your loyal patients remain loyal. There are multiple scenarios that might work for you, but you can start with one of the above to get your feet wet.
For more information, contact a center like Lamb's Gap Animal Hospital.