Posts by VetRx Solutions
Optimizing Inventory Management: Key Strategies for Effective Inventory Control
If your cost of goods sold (COGS) is more than 20%, this article can help. As a veterinary practice owner, optimizing your inventory management is crucial for maximizing profits and ensuring quality patient care. With inventory costs at many practices accounting for 20% or more of gross revenue, saving money on COGS is money that…
Read MoreWhat is SEO? Why is It Important for Patient Growth? How to Use In-House Review Management to Improve It?
What is SEO and Why is It Important? In short, SEO is what makes your Google page rank higher. How to do that? This is where SEO comes in. Here’s how SEO (Search Engine Optimization) works – in simple terms. Imagine the internet as a vast library, with millions of books (websites) on every topic…
Read MoreUnlocking Profit Potential: How to Calculate EBITDA and Use it to Power Your Practice
Unlocking Profit Potential: How to Calculate EBITDA and Use it to Power Your Practice EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization, is a key financial metric used to evaluate the profitability of a veterinary practice. It essentially shows how much profit a practice generates from its core operations, excluding expenses related to financing,…
Read MoreHow Does Your Practice’s ATC Compare?
Tracking the Average Transaction Charge (ATC also known as ACT) is key to understanding how your veterinary practice stacks up against others both nationwide and in your region. According to iVet360’s 2024 Veterinary Industry Benchmark Report, ATC rose nationally by 7.6% from 2021 to 2022 and by 8.3% from 2022 to 2023. The West had…
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