okc 2012 business workshop handout
TRANSCRIPT
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AAEP Business Education Workshop
Oklahoma City
July 2012
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Strategy for the Day
• Explain elements involved in creating and sustaining profitability
• Goal Setting• Metrics• Tools
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Tactics for Today
• Pricing• Inventory• Compensation• Accounts Receivable
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What Is The Only Constant In Our Businesses?
CHANGE!
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Jack Welch, former CEO of GE
“If the rate of change inside your organization is less than the rate of change outside your organization,
THE END IS NEAR.”
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Practice Management Rules Prior to September 2008
• Work hard for long hours• Raise fees once a year• Desired Results
– Increase Gross– Keep up with inflation – Sustain profitability
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New Practice Management Rules
• The old rules no longer work– Fewer subscribe to long hard hour
strategy (probably a good thing)• Work life choices
– Many markets will not tolerate fee increases necessary to sustain profitability
• Demand Elasticity
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What Do We Do Now?
• Manage the top line aggressively with selective fee increases, new services and marketing
• Manage the bottom line aggressively by setting financial objectives and then managing EVERY line on your income statement to reach your objective.
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Define Your Objective
• Not lose too much money?• Break even?
– “profit or cash”• Make Money?
– If so, how much?• Have an exit strategy?
– What does that look like
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Measure Your Progress Toward YOUR Objective
“I don’t know where to start!”• Sick Horse-lab work• Sick Practice-financial statements
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Financial Statements
• Lab work for your practice• No Normals!• Develop your own.
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Tax Accounting
• Accounting used to provide information and analysis to the IRS
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Managerial accounting
– Accounting used to provide information and analyses to managers within the organization to assist them in decision making.
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Financial Statements We Will Use Today
• Profit and Loss / Income Statement• Cash Flow Statement• Balance Sheet
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Profit and Loss Statements
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P & L Statement
A ‘snapshot’ summary of financial activities over a period of time • Revenues earned from operations• Expenses incurred to generate the
revenues
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For the period ended December 31, 20xx
REVENUESField Service Revenues 618,695Surgery Service Revenues 270,340Medicine Service Revenues 349,422
Total Veterinary Service Revenues 1,238,457
Pharmacy Revenues 351,553Laboratory Revenues 265,890
Total Other Service Revenues 617,443
Total Revenues From Operations 1,855,900
EXPENSESLab Fees 12,500Drugs and Medical Supplies Expense 225,253Office Supplies Expense 14,286Utilities 10,982Maintenance and Repairs Expense 11,797Mileage& Vehicle Expenses 56,046Rent Expense 120,000
Total Operating Expenses 450,864
Compensation – Veterinarian 367,323Compensation – Staff 332,872Payroll Taxes 83,166Benefits Expense 80,776
Total Employee Expenses 864,137
Dues & Licenses ‐ Veterinary Prof. Dues 1,700Meals and Entertainment Expense 1,098Continuing Education Expenses 3,495Collection Related Expenses 42,009Depreciation Expense 44,398
Total Other Expenses 92,700
Total Expenses 1,407,701
Net Income/(Loss) 448,199
P&L
RevenuesOn the top
ExpensesOn the bottom
Net Income/Loss
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P & L RevenuesFor the period ended December 31, 20xx
Field Service Revenues 618,695Surgery Service Revenues 270,340Medicine Service Revenues 349,422
Total Veterinary Service Revenues 1,238,457
Pharmacy Revenues 351,553Laboratory Revenues 265,890
Total Other Service Revenues 617,443
Total Revenues From Operations $ 1,855,900
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P & L ExpensesFor the period ended December 31, 20xx
EXPENSESLab Fees 12,500Drugs and Medical Supplies Expense 225,253Office Supplies Expense 14,286Utilities 10,982Maintenance and Repairs Expense 11,797Mileage& Vehicle Expenses 56,046Rent Expense 120,000
Total Operating Expenses 450,864
Compensation – Veterinarian 367,323Compensation – Staff 332,872Payroll Taxes 83,166Benefits Expense 80,776
Total Employee Expenses 864,137
Dues & Licenses ‐ Veterinary Prof. Dues 1,700Meals and Entertainment Expense 1,098Continuing Education Expenses 3,495Collection Related Expenses 42,009Depreciation Expense 44,398
Total Other Expenses $ 92,700 Total Expenses $ 1,407,701
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P & L Net IncomeFor the period ended December 31, 20xx
Total Revenues From Operations $ 1,855,900Total Expenses $ 1,407,701Net Income/(Loss) $ 448,199
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Questions on Profit and Loss Statements?
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Cash Flow Statements
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I’m Going to Fire My Accountant
HE SAYS I MADE A PROFIT…THERE IS NO MONEY IN THE BANK!
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Cash Flow Statements provide financial information about cash receipts and cash payments over a specific period of time.
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• Where did cash come from during a specific period?
• What cash was used during the period?
• What was the change in the cash balance during the period?
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Cash flows from operating activitiesCash receipts from operating activities $125,000
Cash payments for operating activities (62,000)
Net cash provided by operating activities 63,000
XYZ Equine ClinicStatement of Cash Flows For the Month Ending 8/31/2010
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Cash flow from investing activitiesPurchased diagnostic equipment (21,000)
Purchased office equipment (3,000)
Net cash used by investing activities (24,000)
XYZ Equine ClinicStatement of Cash Flows For the Month Ending 8/31/2010
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Cash flows from financing activitiesIssued note payable 5,000
Payment of dividend (owner draw) (2,000)
XYZ Equine ClinicStatement of Cash Flows For the Month Ending 8/31/2010
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Cash flows from operating activitiesCash receipts from operating activities $125,000
Cash payments for operating activities (62,000)
Net cash provided by operating activities 63,000
Cash flow from investing activitiesPurchased diagnostic equipment (21,000)
Purchased office equipment (3,000)
Net cash used by investing activities (24,000)
Cash flows from financing activitiesIssued note payable 5,000
Payment of dividend (owner draw) (2,000)
Net cash provided by financing activities 3000
Net increase in cash 2,600
Cash at beginning of period 0
Cash at end of period $44,600
XYZ Equine ClinicStatement of Cash Flows For the Month Ending 8/31/2010
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Questions on Cash Flow Statements?
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Balance Sheet
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Balance SheetNet Worth of Your Business
A ‘snapshot’ of your business at a point in time
1. Records the assets owned by the business
2. Records liabilities, the claims against those assets
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The ‘accounting equation’ defines a balance sheet
Assets = Liabilities + Owner’s Equity
ASSETS
on the left side of the equation
LIABILITIES AND OWNER’S EQUITY
On the right side of the equation
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Andrew R Clark, DVM, MBA
Why Is It Called a BALANCE sheet?Because it must BALANCE
Algebra Review Quiz – definition of an equationA = B + C
1. B and C together are pretty close to A2. B and C together just about equal A3. B and C together actually equal A
therefore the equation BALANCES
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Why Is It Called a BALANCE sheet?Because it must BALANCE
If you only learn one thing today, learn to confirm that your balance sheet
balances!!!!
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Assets
LiabilitiesOwners Equity
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Assets –the things your practice owns
• Two Categories of Assets– Current Assets– Long Term Assets
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Current Assets-can be converted to cash in one year
• Cash• Accounts Receivable• Notes Receivable (due within one year)• Inventory
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Andrew R Clark, DVM MBA
Long Term Assets-everything else owned by the practice (converted to cash in more than one year)
– Property– Plant– Good Will– Equipment– Note on a buy-in (the portion not due in 1
year)
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Liabilities –What your practice owes
• Two Categories of Liabilities– Current Liabilities– Long Term Liabilities
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Current Liabilities – obligations that are due in less than a year
– Accounts Payable • Includes mortgage and auto payments due
within a year– Accrued Wages– Accrued Taxes
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Long Term Liabilities – obligations that are due in greater than a year
– Mortgages (the portion not due in 1 year)– Vehicle Payments (the portion not due in 1
year)– Etc
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Owner’s Equity
– Think of it as:• what the practice owes the owner• Or what the owner owes the practioce
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Owner’s Equity
Algebra Review• Begin with the accounting equation
Assets = Liabilities + Owner’s Equity
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Owner’s Equity
Assets = Liabilities + Owner’s EquityAssets - Liabilities = Owner’s Equity
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Beware OfNegative Owner’s Equity
• If your balance sheet shows a negative number for owner’s equity…– You have overdrawn the account!– You are taking more out than the practice
is generating.
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Questions?
Questions on Balance Sheets?
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CompassionBreak Time
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AAEP Business Workshop Sessions
• Pricing• Accounts Receivable• Inventory• Compensation • Summary Session
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Objectives for Today• Look at your financial statements for
opportunities to make your practice more profitable
• Hot Sheet• Break out Groups• Action Items• My objective for you
– Return to your practice with action items– MAKE A DIFFERENCE
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What Generates Profit?
• Veterinary Medicine Generates Gross Revenue
• Management Strategy and Execution Generates Profit!!!
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Strategy
• If you create the right strategy you can almost always get to the right number
• If you start with numbers you will almost never get to the right strategy
• What is your objective?• What is necessary to achieve your objective?
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Execution
• Small Changes Have Big Impact– Explore the profit drivers / leakers in an
income statement• Small changes that repeat have a
tremendous impact to the bottom line, positive or negative
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Reference
The 1% Difference; Kelly Lyons
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Sample Financials
• Data is based on a hypothetical $4mm practice
• Assumptions– 10 doctor practice– 4 veterinarian / owners– Retail margin 50%
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Income Statement
Revenue $1,000 % of Sales
Fee from Services $3,200
Retail Sales $800
Total Revenue $4,000
Cost of Professional Services
Retail COGS $400 10.00%
Drugs & Professional Supplies $440 11.00%
Discounts Taken ‐$10 ‐0.25%
Laboratory & Imaging Costs $70 1.75%
Animal Housing & Husbandry Costs $52 1.30%
Gross profit $3,048 76.20%
Expenses
Payroll & Employee Costs $1,864 46.60%
Administrative Expenses $181 4.50%
Fee Collection Costs $48 1.20%
Facility & Equipment Costs $452 11.30%
$2,545 63.60%
EBITDA $503 12.60%
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AAEP Business Workshop Sessions
•Pricing• Accounts Receivable• Inventory• Compensation • Summary Session
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Paths to Increasing Profitability
• Increase Revenue– Fees– Volume– Pharmacy
• Reduce Operating Expenses• Reduce Product Costs
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Cost of Providing a Service
There are 3 components of cost to provide a service
1. People Costs2. Process Costs3. Technology Costs
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Cost of Providing a Service
There are 6 places to incur those three costs
1. Being prepared to provide the service2. Providing the service3. Cleaning up after providing the service4. Communication before and after
providing the service5. Record Keeping6. Compliance
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3 X 6 = 18
• 3 ways to incur costs and six opportunities to incur those three costs
• 18 opportunities to incur cost to provide a service to your clients
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But Wait
• You have not made a profit• (ROI)• Need to add ROI to the sum of the 18
sources
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Fees Must Include1. People Costs
(Including profit)2. Process Costs
(Including profit)3. Technology Costs
(Including profit)
1. Prepare to provide2. Provide The Service3. Clean up after
providing4. Record Keeping5. Communication6. Compliance
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Example
• Purchase Exam • Not the farm call, radiology, lab etc.
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People Costs
• Prepare to Provide the service– Receptionist 30 minutes @ $25/hour to
make the appointment, collect information and prepare paperwork…
– Subtotal $12.50
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People Costs
• Provide The Service (purchase exam)– Technician 1 hour @
$25/hour– Veterinarian 1 hour @
300/hour – Subtotal $325
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People Costs
• Clean Up after Providing The Service– Technician 0.25 Hour @ $25/hour– Subtotal $6.25
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People Costs• Communication
– Veterinarian 45 minutes @ $300/hour• Conversation with buyer 15 minutes• Conversation with seller 10 minutes• Conversation with trainer or agent 10 minutes• Conversation with one other veterinarian 10 minutes
• Subtotal $225
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People Costs• Reporting
– Veterinarian @ 300/hour• Create purchase exam report 20 minutes
• Subtotal $100
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People Costs
• Compliance $0.00
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Total People Costs
• Prepare to Provide Service $ 12.50• Provide Service $325.00• Clean Up after Providing $ 6.25• Communication $225.00• Record Keeping $100.00• Compliance $ 0.00• Total People Costs $668.75
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Do You Want To Make A Profit?
• Establish your ROI target 15% for this example
• Add ROI to your total cost• Total Cost $668.75 • ROI @ 15% $100.31• Appropriate Fee
$769.06
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Increased Fees
– Demand Elasticity– Pricing Strategies
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INCREASE FEES 5%
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Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 5.00% $3,360
Retail Sales $800 $800
Total Revenue $4,000 $4,160
Cost of Professional Services
Retail COGS $400 10.00% $400 9.60%
Drugs & Professional Supplies $440 11.00% $440 10.60%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.20%
Laboratory & Imaging Costs $70 1.75% $70 1.70%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $3,208 77.10%
Expenses
Payroll & Employee Costs $1,864 46.60% $1,864 44.80%
Administrative Expenses $181 4.50% $181 4.30%
Fee Collection Costs $48 1.20% $48 1.20%
Facility & Equipment Costs $452 11.30% $452 10.90%
$2,545 63.60% $2,545 61.20%
EBITDA $503 12.60% $663 15.90%
Change to EBITDA 31.80%
Increase Fees 5%
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Increase Fees
• Greatest single impact to the bottom line
• Can you increase fees?• What is the danger of increasing fees
too much?• How often do you increase fee
schedules?• Ten Bucket Strategy
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Increase Fees
• If you successfully increase fees 5% have you;– Impacted the business 5%, or
–Impacted the business >31%– Does staff and other stakeholders
understand the magnitude of the impact?
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DISCOUNT FEES 5%
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Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 ‐5.00% $3,040
Retail Sales $800 $800
Total Revenue $4,000 $3,840
Cost of Professional Services
Retail COGS $400 10.00% $400 9.60%
Drugs & Professional Supplies $440 11.00% $440 10.60%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.20%
Laboratory & Imaging Costs $70 1.75% $70 1.70%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $2,888 69.40%
Expenses
Payroll & Employee Costs $1,864 46.60% $1,864 44.80%
Administrative Expenses $181 4.50% $181 4.30%
Fee Collection Costs $48 1.20% $48 1.20%
Facility & Equipment Costs $452 11.30% $452 10.90%
$2,545 63.60% $2,545 61.20%
EBITDA $503 12.60% $343 8.30%
Change to EBITDA ‐31.80%
Discount Fees 5%
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Decrease Fees
• If you decrease fees 5% have you;A. Impacted the business -5%, or
B. Impacted the business >-31%– Does staff and other stakeholders
understand the magnitude of the impact?
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Discounting
• In this example the multiplier effect is 6 to 1– Every 1% of discount has a -6 times multiplier to
the bottom line if nothing else changes• Do those influencing pricing understand the
impact of discounting?
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Increase Volume 5%...
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Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 5.00% $3,360
Retail Sales $800 $800
Total Revenue $4,000 $4,160
Cost of Professional Services
Retail COGS $400 10.00% $400 11.10%
Drugs & Professional Supplies $440 11.00% 5.00% $462 10.60%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.20%
Laboratory & Imaging Costs $70 1.75% $70 1.70%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $3,186 76.60%
Expenses
Payroll & Employee Costs $1,864 46.60% $1,864 44.80%
Administrative Expenses $181 4.50% $181 4.30%
Fee Collection Costs $48 1.20% $48 1.20%
Facility & Equipment Costs $452 11.30% $452 10.90%
$2,545 63.60% $2,545 61.20%
EBITDA $503 12.60% $641 15.40%
Change to EBITDA 27.40%
Increase Charges Billed 5%...
No Increase in Costs
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Increasing Volume…
• Can you increase volume 5% without affecting costs?
• Can the doctors in your practice bill an additional 5% in fees?
• Additional expenses for volume increase erodes the 27% multiplier effect of volume increases.
• A rule of thumb in business says “only let your expenses rise at 75% of your volume increase”
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Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 5.00% $3,360
Retail Sales $800 $800
Total Revenue $4,000 $4,160
Cost of Professional Services
Retail COGS $400 10.00% $400 11.10%
Drugs & Professional Supplies $440 11.00% 5.00% $462 10.60%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.20%
Laboratory & Imaging Costs $70 1.75% $70 1.70%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $3,186 76.60%
Expenses
Payroll & Employee Costs $1,864 46.60% 3.75% $1,934 46.50%
Administrative Expenses $181 4.50% 3.75% $188 4.50%
Fee Collection Costs $48 1.20% 3.75% $50 1.20%
Facility & Equipment Costs $452 11.30% 3.75% $469 11.30%
$2,545 63.60% $2,641 63.50%
EBITDA $503 12.60% $545 13.10%
Change to EBITDA 8.50%
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Break Out Groups
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AAEP Business Workshop Sessions
• Pricing
•Accounts Receivable• Inventory• Compensation • Summary Session
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Andrew R Clark, DVM MBA
Accounts Receivable Tiradean Exercise
• Divide your annual gross production by 365– yields your daily production– 1.5 Million / 365 = $4,110
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Accounts Receivable Exercise
• Divide your balance sheet accounts receivable by your daily production– Yields number of days production on the
books– $82,192 / $4,110 = 20 Days
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Andrew R Clark, DVM MBA
Accounts Receivable Exercise
• Compare the number of days accounts receivable you have on the books to these equine practices (the ends of my bell shaped curve)
• 3 days on the books• 102 days on the books
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Accounts Receivable
• Accounts Receivable are NOT as good as cash!
• Has your practice has ever borrowed money for any short term need?– Payroll– Taxes– Etc
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Accounts Receivable
• If your answer is yes,– you need to get out of the credit business
and collect more of your fees at time of service!
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Accounts Receivable
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How to Reduce DSO
• Recondition customers to a new payment expectation– Place collection calls earlier
• Reward prompt payment with a discount• Use credit cards more
– Reduces margin– Do not use to settle outstanding A/R,
unless it is the only way to get paid
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Break Out Groups
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AAEP Business Workshop Sessions
• Pricing• Accounts Receivable
• Inventory• Compensation • Summary Session
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Reduce COGS 5%
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Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 $3,200
Retail Sales $800 $800
Total Revenue $4,000 $4,000
Cost of Professional Services
Retail COGS $400 10.00% ‐5.00% $380 9.10%
Drugs & Professional Supplies $440 11.00% $440 10.60%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.20%
Laboratory & Imaging Costs $70 1.75% $70 1.70%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $3,068 73.80%
Expenses
Payroll & Employee Costs $1,864 46.60% $1,864 44.80%
Administrative Expenses $181 4.50% $181 4.30%
Fee Collection Costs $48 1.20% $48 1.20%
Facility & Equipment Costs $452 11.30% $452 10.90%
$2,545 63.60% $2,545 61.20%
EBITDA $503 12.60% $523 12.60%
Change to EBITDA 4.00%
Reduce COGS 5%
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Reduce COGS…
• Another form of margin growth• Forms of cost (COGS) reduction
– Cash discount terms– Volume rebates– Growth incentives
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Reduce COGS 1%
• Observations– The supplier community does not have the
margin to sustain this strategy – Increasing fees 1% has 4 times the benefit
compared with reducing cost– Often times when product cost is reduced
so is the selling price• What happens when we pass on the
COGS decrease?
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Reduce COGS 5%and
Reduce Price 5%
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Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 $3,200
Retail Sales $800 ‐5.00% $760
Total Revenue $4,000 $3,960
Cost of Professional Services
Retail COGS $400 10.00% ‐5.00% $380 9.10%
Drugs & Professional Supplies $440 11.00% $440 10.60%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.20%
Laboratory & Imaging Costs $70 1.75% $70 1.70%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $3,028 72.80%
Expenses
Payroll & Employee Costs $1,864 46.60% $1,864 44.80%
Administrative Expenses $181 4.50% $181 4.30%
Fee Collection Costs $48 1.20% $48 1.20%
Facility & Equipment Costs $452 11.30% $452 10.90%
$2,545 63.60% $2,545 61.20%
EBITDA $503 12.60% $483 11.60%
Change to EBITDA ‐4.00%
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COGS
• Market price increases – Our best friend if:– We implement effectively– Maintain or improve our margin %
• History shows we revert to historical margins and gains turn to losses
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Reduce Retail Price
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Redu
ce Retail Price 5%
Revenue % of Sales Increase Fees % of Sales
Fee from Services $3,200 $3,200
Retail Sales $800 ‐5.00% $760
Total Revenue $4,000 $3,960
Cost of Professional Services
Retail COGS $400 10.00% $400 10.10%
Drugs & Professional Supplies $440 11.00% $440 11.10%
Discounts Taken ‐$10 ‐0.25% ‐$10 ‐0.30%
Laboratory & Imaging Costs $70 1.75% $70 1.80%
Animal Housing & Husbandry Costs $52 1.30% $52 1.30%
Gross profit $3,048 76.20% $3,008 76.00%
Expenses
Payroll & Employee Costs $1,864 46.60% $1,864 47.10%
Administrative Expenses $181 4.50% $181 4.60%
Fee Collection Costs $48 1.20% $48 1.20%
Facility & Equipment Costs $452 11.30% $452 11.40%
$2,545 63.60% $2,545 64.30%
EBITDA $503 12.60% $463 11.70%
Change to EBITDA ‐7.90%
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Starting Margin20% 25% 30% 35% 50% 60%
Price Re
duction
4% 25 19 15 13 9 75% 33 25 20 17 11 910% 100 67 50 40 25 2015% 300 150 100 75 43 3320% 400 200 133 67 5025% 500 250 100 7130% 600 150 10040% 400 20050% 500
reduce your prices, have to sell MORE to maintain margin
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% Change to Pre Tax Profit5.0%
Increase Fees 31.8%
Increase Fee Based Volume (75% Expense Ration) 8.5%
Reduce Product Cost (Retail Sales COGS) 4.0%
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Profit Leakers
5.0%
Reduce Fees ‐31.8%
Reduce Retail Price 5% ‐7.9%
Reduce Retail Sales ‐4.0%
Not Passing on Price Increase ‐4.0%
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Inventory Turnover
• A ratio showing how many times a company’s inventory is sold and replaced over a one year period
• Often expressed as days of inventory– 365/inventory turnover– 365/6 turns = 60.8 days
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Net Inventory Investment…
• Book value of the inventory which is equal to the physical inventory value on the floor, less what you owe supplies.
Average Inventory Value minusAverage A/P Balance (inventory payables)
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Turns Within Terms
Turns Within Terms– Turns within terms occurs when – days to
collection is fewer days than terms with suppliers
– Your inventory is on consignment from the supplier!
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Why Turns Within Terms
• As a business you have the opportunity to generate gross profit without investing any of your money in inventory
• This is a great way to fund growth or other capital investments
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How to Impact Turns Within Terms• Dating from suppliers
– Often times the dating has more value than the discount offered
• Focus on growing the business to improve turns, thus reducing days of inventory
• Carry less inventory, reduces days of inventory
• Review the logic used to make a buying decision
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Elements in nventory Decision
• Days of Desired Inventory (DDI)– Function of predictability of demand, criticalness of
item• Lead time
– Number of days it takes to receive inventory from the day the item is ordered
• Safety Stock• The amount of safety• Payment Terms
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How to Improve Inventory Turnover
• Increasing sales volume is the best way to improve turns
• Carry less inventory– Eliminate or reduce product redundancy– Buy in smaller quantities
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How to Improve Earn/Turn
• Sell more, increase velocity which improves turns
• Buy smaller quantities more frequently to improve terms
• Carry less safety stock• Increase margin %
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Questions?
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Break Out Groups
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AAEP Business Workshop Sessions
• Pricing• Accounts Receivable• Inventory
•Compensation • Summary Session
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Non Doctor Staff75th percentile Hourly Wage
75th Percentile Hourly Plus Benefits
Receptionist $ 17.58 $ 19.88 Practice Manager $ 38.81 $ 42.19 Office Manager $ 19.35 $ 21.18 Maintenance $ 26.73 $ 31.21 Licensed Tech $ 20.92 $ 24.10 Barn Worker $ 14.08 $ 15.86 Vet Assistant $ 15.77 $ 18.46 Book Keeper $ 16.63 $ 20.44
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Break Out Groups
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Summary Session
Thank You Merck