Veterinary Inventory Management
The concepts of veterinary inventory management are not difficult to understand. Even the highest level deliberations usually come down to simple algebra equations. What can be difficult to comprehend is how those equations relate to the business, and how to interpret the results. Perspective is crucial when it comes to understanding how those conclusions can then lead to responsible and profitable inventory management. Many business owners know how much they are spending, but they are unclear as to what they are spending their money on and how much of that was spent needlessly.
It can be a challenge to implement good systems of supply management. The formulas for functioning inventory are going to be slightly different for every industry, and within each industry they are going to be slightly different for each company. Veterinary medicine is unique, but there is a general rhythm to an optimal flow of stock. It is putting these formulas, which look so simple on paper, into motion that is the truly difficult part.
If you feel like inventory is controlling your practice, then it is time to turn the tide and gain control over your stock. To get a company to a point of effective operation takes fortitude and diligence; it is hard work. But once you are there, operating in a profitable manner becomes relatively easy. Navigating the business of supplies can be comfortable and lucrative.
The premier service consultation is designed to give you the knowledge to implement a good inventory system, a road map for that implementation, and guidance along the way. It is not just a class you take. This service is not a canned presentation dealing with hypotheticals and what-ifs. This is a consultation that is dealing with the facts and circumstances of your business. Implementing the concepts in a way that works for your practice.
The premier service consultation starts with a complete practice evaluation. Examining the processes that are working and not working for your practice. The next step is a presentation which will lead to forming a plan. Considering the ways you want to practice medicine and plotting the way to implement good inventory systems that will work for your business. Once the plan is made, the next step is executing; though it is up to you to implement the plan and make the changes, VSS will be here to assist you along the way.
The premier service consultation is designed to be reform. Any practice manager or owner considering this knows that transformation is not easy. Once it has been achieved, it can be profound and so beneficial that you will wonder why you did not make the change sooner. But, if you are ready to do what it takes to make the change, then we are here to help you achieve success.
VSS offers various levels and styles of presentations, for a group or an individual practice concerning inventory management. Please contact us to go over your needs and to set up a time.
If you are a business owner or manager who is considering the bottom line first, then there is very little needed to sway you. Reducing a portion of the expenses significantly and then operating in a more proficient way from that moment on, is its own motivation. The only question is; How motivated are you? If you are an owner or manager that is considering more than the bottom line, then you are looking for a different level of engagement a different level of a solution for your practice.
One of the more amazing facets that brings many people to this industry is that they have the highest regard for the lives of animals, and strive to provide the best care for their patients. So many veterinarians are not working for “the bottom line,” “sales,” and “profits.” Sure, they want to make a living, but money is not what brought them to this industry, or drove them to open a practice.
Responsible use of inventory is best medicine. An elementary argument is simply “Is it considered practicing good medicine to give an expired medication?” A more advanced level discussion exists when you compare effective use of stock in a practice and the effective use of an antibiotic in a patient. Some practitioners need to be able see the medicine they use the same way they understand how the medicine is used. This is not always about the bottom line, and your concerns do not have to be solely financial.
At what level are you considering your inventory? How do we get you dealing with inventory more effectively and increasing the benefit to your practice and patients?
Going through a financial report and interpreting the results can be time consuming and difficult, even for those that have done it a few times. This service is your opportunity to have those results evaluated and presented back in a way that is easily understood. It also gives your practice a chance to have an independent, outside observer examine spending habits.
This may be the simplest of the programs that VSS has to offer, but it is the most important. Being able to examine the variables of use, is arguably the most important function when it comes to working with inventory for a veterinary practice.
Many veterinary practices do not have systems in place to identify a problem with controlled substances in the legally required time if at all. The problem of diversion is real concern for veterinarians, more so than a DEA inspection; the results of which could seriously inhibit the ways a veterinarian would practice. Yet many veterinarians view this area of their practice as unimportant and not worth dealing with. Maybe the other parts of your inventory are satisfactory to you, but it’s time to implement a system of responsible control drug management.
VSS offers hourly rates for consultations. We offer follow-ups. We are happy to help you at every step of growth for your practice.
Is it time to reconsider the Cinderella of your practice?
If there is a lack of understanding pertaining to the inventory process for a practice, then stock has become a chore. The cost of doing business can be devastating to a veterinary hospital. Too many veterinarians may be finding themselves working at inventory instead of having the inventory work for them. This does not have to be the case.
It is vital that the decision makers of a practice understand the relationship between the stock it takes to do business and the effort it takes to do business. What someone’s time means verses how much something is costing in dollars and cents. Commonly, a practice operates this way because “it is done that way at other places” and there is a lack of knowledge or experience to implement a better system. At worst, a practitioner may feel inventory is simply unavoidable dollars out. They do not have the time or worse yet, do not care to spend the time. Either way, inventory has become the step-child of their business.
However, this step-child can be royalty.