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Last in a four-part series, this webinar helps the practice owner evaluate the changes that have been put in place to better market a practice and its services.
(AUBURN, Alabama) October 7, 2014 – The American Association of Bovine Practitioners (AABP) offers the fourth webinar in a four-part series on practice management, called `Measuring the Impact of Your Value Proposition.` Following the first three webinars `Marketing Your Value Proposition`, `Constructing a Value Proposition` and `Partial Budgeting`, this webinar offers the viewer advice on how to apply strategic and analytical tool to evaluate financial data, identify opportunities and plan for a future of improved success.
Any veterinary practitioner concerned about practice sustainability, profit and efficiency will benefit from this webinar because it introduces the tools to analyze the various segments of a practice whether they are bovine, equine, etc., or even further segmenting within bovine profit centers such as cow-calf versus feedlot, or even segmenting clients by product need, such as dairy seed stock farms versus commercial dairy farms or show cattle herds.
Webinar 4 explains the difference between tax accounting and management accounting, and offers a tool for analyzing financial data from previous years as well as a tool to prepare for the future. `Viewers will see how they can get a snapshot of their practice`s financial performance as well as a means to use benchmarking within their practice to move from their present reality to an improved future reality,` says David Welch, project leader of AABP`s Veterinary Practice Sustainability Committee that created the webinar series.
One concept that is covered is `activity-based costing` that allows one to calculate the cost of providing a specific service. Analyzing segments or activities will allow the owner to identify activities that increase the profit margin and those that are decreasing the profit margin.
It`s recommended to view Webinars 1, 2, and 3 to maximize the benefits of Webinar 4. AABP members can access this and other webinars for free by logging in at www.aabp.org, then click on Resources and Webinar Series. Non-members wishing to view the webinar can find it online at the Kansas State University Beef Cattle Institute website at www.animalcaretraining.org/vps. For non-members, the cost is $50 per webinar.
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