Decision Data: Hiring a practice manager?

Further resources

• Practice managers can be amazing. Look no further than dvm360.com/PMOY for proof.

• How do I know if I need a practice manager?

• BizQuiz: What can a manager do for you?

It can often be difficult for a veterinary practice owner or manager to decide how to change their business model, when to add services and how to adjust for changing times. The team at dvm360 has been working with two of the sharpest veterinary analysts around (John Volk and Dr. Karen Felsted) to examine major changes practices have made.

For the next few months, we'll be sharing results from their study as well as resources and commentary to help you make a decision as a practice owner or manager-or make a plan happen once you've decided.

This week, we look at how many practices have or have recently hired a practice manager as well as that person's qualifications.

NOTE: Categories are based on the survey question, “What were your practice's gross revenues in 2016?” and questions about 2017 behavior and decisions.

Percentage of practices who employ a practice manager, hospital administrator or similar person who's not a practicing veterinarian

Practices with gross revenue of ...

Percentage

Less than $500,000 39% $500,000-$999,000 65% $1 million-$1.5 million 73% $1.5 million-$2 million 79% $2 million-$3 million 92% $3 million-$5 million 88% $5 million or more 96%

Source: dvm360 Decisions Survey; Dr. Karen Felsted of PantheraT Consulting; John Volk of Brakke Consulting

Percentage of practices who hired that person in past year

Practices with gross revenue of ...

Percentage

Less than $500,000 25% $500,000-$999,000 16% $1 million-$1.5 million 21% $1.5 million-$2 million 21% $2 million-$3 million 23% $3 million-$5 million 16% $5 million or more 14%

Source: dvm360 Decisions Survey; Dr. Karen Felsted of PantheraT Consulting; John Volk of Brakke Consulting

Percentage of practices whose manager has these qualifications

2-year or 4-year business degree from college or university 27% Nonveterinary management or supervisory experience 26% Practice manager or hospital administrator experience in another veterinary hospital 20% Certified Veterinary Practice Manager certification 8% SHRM-CP or SHRM-SCP certification from the Society for Human Resource Management 1% None of the above 46%

Source: dvm360 Decisions Survey; Dr. Karen Felsted of PantheraT Consulting; John Volk of Brakke Consulting

Percentage of practices whose manager-since being hired-has done this professional development

Attended business sessions at veterinary conference 61% Participated in business webinars put on by veterinary organizations 55% Attended business sessions at a nonveterinary conference 30% Participated in business webinars put on by nonveterinary organizations or commercial companies 29% Become a Certified Veterinary Practice Manager 5% None of the above 22%

Source: dvm360 Decisions Survey; Dr. Karen Felsted of PantheraT Consulting; John Volk of Brakke Consulting

Percentage of practices whose manager is a member of these organizations

Veterinary Hospital Managers Association 22% Society for Human Resources Management 3% VetPartners 2% None of the above 77%

Source: dvm360 Decisions Survey; Dr. Karen Felsted of PantheraT Consulting; John Volk of Brakke Consulting