VHMA Benchmark Reports
Practice Diagnostic Report
Client Satisfaction Survey
Compensation and Benefits Survey
The VHMA Fee Guide is the culmination of two decades of research into veterinary fees, incomes, and client surveys. We have blended the research from all three areas of study into a very simple tool that allows you to quickly and easily develop a Fee Guide specific to your practice. The Fee Guide is not reliant on what your neighboring practice charges, or on the economics of your area. There is very little research needed on your part. We start with the Fee Guide you have now and show you the impact of various fee increases on your bottom line. Along the way we help you increase your fees in a manner that is more agreeable to your clients and your staff.
Based on your list of fees provided from the survey, we provide a complete Fee Guide on the assumption that each fee from a specific area of the practice (the anchor fee) is representative of all the fees in that area. For example, we use your examination fee as the anchor for examination fees; and it sets the tone for all the fees in the examination section. We use the dental prophy fee to set all your dental fees; and the non-elective surgery fees are the anchor for all your surgical procedures.
We have been researching veterinary fees for two decades and have also done a lot of work on relative fees. Relative fees explain the relationship between fees. For example, if your exam fees is “X” then we know your recheck fee should be “Y”. We recommend that you audit all of your fees when you get your new Fee Guide. Problems can arise when the anchor fees from your survey are uncharacteristically high or low, and are not a good representation of the area. For example, if you charge a lot for a CBC but less for all other lab procedures, lab fees will be unnaturally high. When this occurs, we can make changes to override the algorithm for any area.
The key component of the Fee Guide is the research we have done into the perceived sensitivities surrounding fees. When you get your new Fee Guide, you will notice from the front page that the fees in different areas increase by different amounts. For example, the fees for examinations might go up by four per cent while diagnostic fees go up by seven and half per cent. This is based on our research that shows veterinarians and staffs are reluctant to raise fees in one area, but are likely to raise fees in another. We don’t have to default to the lowest common denominator; we play both sides by increasing the “easy” ones aggressively and holding back on the sensitive areas.
At the end of the day, we are trying to provide you with a Fee Guide that will improve your professional income but stimulate the demand for veterinary medicine.
We do not look into the economic status of your clients, nor do we worry about how much your neighboring practices are charging. Our research shows that (within the parameters we have studied) there is no relationship between fees and incomes. That research also shows us that there is no economic relationship between the fees in different clinics.
Our model is based on the assumption that your Fee Guide is the best starting point for improving fees. You provide us with a sample of fees and we will provide you with a detailed Fee Guide along with a projection of how it can improve your net income. It is simple, fast, and comes with all the support you need to start making real changes to your revenues.
Cost To You
VHMA Members: $125 per survey
Sample Fee Guide Report
PRACTICE DIAGNOSTIC REPORT
A personalized comparative Practice Diagnostic Report provides you with useful and unique management statistics about your business. Your personal report will show what areas of management in your hospital are successful and what areas need attention. Your report will also provide comparisons to the average and top-performing practices in the nation. The Practice Diagnostic Report examines five (5) key areas of practice management: scheduling, clients statistics, human resources, expenses, and fees.
An important component of your personalized Practice Diagnostic Report is the inclusion of specific recommendations relating to improvements in the practice’s bottom line that can be attained by achieving appropriate fixed and variable expense targets and charging appropriate fees. This analysis has enabled practices (which have used this diagnostic tool) to increase their net profit by tens and sometimes hundreds of thousands of dollars.
The information in the report can be used to:
- set targets to improve scheduling and client flow;
- better manage clients to ensure the right mix of clients for the facility and staff;
- set appropriate staffing levels;
- help control costs and set budget targets;
- decrease expenses; and
- set appropriate fees.
A feature of the Practice Diagnostic Report is the inclusion of a Practice Value Estimate that will show how much the practice is worth. The Practice Value Estimate is based on information provided in the practice diagnostic survey and the practice financial statement.
Specific surveys are available for small animal, large animal, specialty and emergency, and feline only practices. Sample surveys and personalized reports are available on this Web site or through the VHMA Office.
Cost To You
VHMA Members: FREE to the first 400 annually. After the first 400, the cost to members is $150. The cost for non-members is $350.
Sample Report for Small and Large Animal
Sample Report for Emergency & Referral Clinics
CLIENT SATISFACTION SURVEY
A client survey can provide a very valuable snapshot of how well a hospital is serving clients. A personalized Client Satisfaction Report provides veterinary managers and practice owners with an accurate measurement of current client satisfaction levels, as well as a rating of the importance of each aspect of their practice to their clients.
Your personalized report can be that essential tool necessary to establish a baseline for client satisfaction against which future comparisons can be made to gauge your progress in improving your customer service and ultimately your practice’s profitability.
The information in the report can be used to:
- improve customer service;
- decrease the stress associated with dissatisfied clients; and
- provide an effective tool to change staff behavior.
How It Works
Each participating practice will receive a kit containing 200 pet owner surveys and/or where applicable, 200 food animal producer surveys. The surveys ask clients to respond to questions about their level of satisfaction with various aspects of the practice. Clients will also be asked to comment on the most important factors in choosing a hospital. Managers and staff distribute the survey along with a self-addressed, stamped envelope to their clients. Completed client questionnaires are returned to a dedicated U.S. postal address. Researchers then compile and analyze the data and return a personalized report once a minimum of 70 of the 200 client surveys have been received.
Specific surveys are available for small and large animal practices. You can also request a kit for both. There is no limit to the number of kits that may be purchased. For example: if you wish to perform a satisfaction survey for each of your veterinarians or for multiple practice locations, you can.
Sample surveys and personalized reports are available on this Web site or through the VHMA Office.
Cost To You
VHMA Members: $150 per survey kit.
Sample Report, Survey & Order Form:
Sample Client Satisfaction Report
Sample Client Survey
COMPENSATION AND BENEFITS SURVEY
The VHMA Compensation and Benefits Survey is designed to examine the level of compensation and benefits provided to Non-DVM Staff, Associate DVMs and Veterinary Managers in North America. The survey is conducted on a bi-annual basis and provides a comprehensive report to help managers compare their current pay structure to remain competitive in today’s market.
The bi-annual report includes compensation characteristics broken down by:
- position and responsibilities
- years of experience
- type of practice
- years at current location
- split shifts and
- geographical region
Cost To You
VHMA Members: FREE (VHMA Members can view the most recent reports under the Member's Only tab)
A help line is available to assist members with their benchmark surveys, reports, and to answer any questions or explain the results received.