Business

Practices whose staff are so well treated that they feel like family may be harder to compete with.

... I knew this dog was more than an investment.

Starting this month, 401(k) plans can offer a Roth 401(k) provision?which could be a better option for your retirement savings.

In the wake of the 2004 tsunami, Dr. Kerry Levin did the almost unthinkable?she put her solo practice, North State Animal Hospital in Ukiah, Calif., on hold and ventured across the world to volunteer. Armed with a passport, some past veterinary experience in third-world countries, and a desire to help, she traveled alone to Sri Lanka in February.

Starting this month, 401(k) plans can offer a Roth 401(k) provision—which could be a better option for your retirement savings.

Look beyond the price tag when you buy, then track usage and profitability carefully to make the most of your purchase.

I just returned from a practice-management meeting at the Ritz-Carlton in Amelia Island, Fla. It was our 20th gathering, and we wanted it to be special, which is why we chose a Ritz-Carlton hotel. Everyone knows the Ritz represents the gold standard of service in the hotel industry. How do they achieve this lofty goal?

Your clients seek you out because your approach meets their needs.

If your burgeoning practice is making you claustrophobic, try these strategies to accommodate growth.

When it's time to fix-up, remodel or redecorate the building, clinic or offices that house your veterinary practice, you will want to keep out-of-pocket expenditures to a minimum and recover as much of the funds spent as quickly as possible. Fortunately, both those veterinarians who own their own buildings and those who lease their property can take advantage of a variety of tax deductions, credits and other tax breaks to achieve those goals.

Acres Animal Hospital in Dartmouth, Nova Scotia, relies on hot-water bottles to help provide comfort to patients.

An e-mail newsletter is an inexpensive way to promote your clinic.

How do I know if gossip has become a problem in my practice? And what's the best way to get rid of it?

I'm considering remodeling an exam room. What are the first steps I should take?

The U.S. Government Accountability Office (GAO) says that enhanced offerings, such as CD-ROMs and other instructional supplements, are driving up college textbook prices.

Offering to put them in contact with a financial planner may just be the ticket for some new grads.

"Increased customer loyalty is the single most important driver of long-term profitability," say Scott Robinette, Claire Brand, and Vicki Lenz, authors of Emotion Marketing: The Hallmark Way of Winning Customers for Life (McGraw-Hill, 2000).

Give your team the freedom to make the practice shine.

I'm tired of having a huge pile of accounts receivable. How can I manage this better?

I'm a senior clinician getting a straight salary. My boss is changing my pay structure to base plus percentage. I'm nervous because often someone else does a workup and I'm stuck with a no-charge recheck, and sometimes we accept low-cost certificates, resulting in a lower charge.

Ever wonder what surgery is like from the pet's perspective? Your clients do.

"We all want our staff members to work together as a team, but it's hard to ask this of your staff unless they know the steps to take," says Julia Culbreth, the practice manager at Jefferson Animal Hospital in Louisville, Ky.

A++ clients make appointments the day they get your postcard, call, or e-mail. Here's how to help the others make the grade.

Ever wish pets could schedule their own appointments and bring themselves in for care? The key to stopping client-created stress is to see your clients for the different breeds they are—and adjust your approach accordingly.

Conversations may stray more when you're not totally focused.

Are your expenses dragging you down? Use this checklist to discover weak links in your finances.

What's considered an inactive client, and how often should you purge inactive clients?

Clients judge the quality and value your practice offers during the first three minutes of contact.

It's easy to overlook the problems that come with making clients wait. We think, "Hey, it comes with the territory." We make excuses. And we hedge our bets, knowing most clients only grow dissatisfied when they wait more than 30 minutes. But that approach won't wow clients. In fact, even a short wait may leave clients disgruntled. So it's an issue you should aim to manage.

Use these benchmarks set by Well Managed Practices to see how your expenses measure up.