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Conference Program 2020

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The Secret to Setting Fees (And How to Keep Them in the Goldilocks Zone)

14 May 2020
Lightning Talks
Practice Management

As a current owner or future owner of a private practice, setting fees can seem like a daunting necessary evil task.  Often owners either neglect to do this  or simply follow the practice down the street, hoping that they know what the heck they are doing, then to experience no or low practice profit.  In this spirited session with Dr. Joel Parker, bring your calculator and learn how to a) set your fees in alignment to a major economic indicator of your community’s financial ability, the Median Disposable Income (MDI) so that they are not too hot (triggering front end friction and consumer resistance to coming in) and not too cold (not viable for practice survival), b) the basics of the workable “No Pet Gets Left Behind” fee model that ensures low “fee-friction” on your practice front-end lots of clients coming in and c) what you need to do on an ongoing to basis to keep up with inflation and ensure that this important component of practice profit is optimized.   

  • How the Median Disposable Income by ZIP code is an indicator of one’s community’s ability to pay for food, shelter, education and pet care…
  • Using the MDI work out what is the IDEAL 20-30 min exam fee (a reflection of your front-end fees)…
  • What is the IDEAL Average Client Transaction (a reflection of your back-end fees)…
  • How to make an initial correction and on-ging small bi-yearly increases to ensure optimum profit and practice survival…
Speakers
Joel Parker, BSc, DVM, President and Co-Founder - Veterinary Practice Solutions

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