Level II VMC School of Veterinary Practice Management - Well it's finally here, we have developed a level II school. This is really exciting, we have long been asked to develop a second level to our VMC School Of Veterinary Practice Management and have finally done so. You must be a graduate of our VMC School Of Veterinary Practice Management to attend this upper level training program. We have designed the level II school to be an experience like none other. This is going to be a lot of fun. Interactive learning, case studies, upper level training in all aspects of management from the people who do it everyday! Dr. Mary Ann Vande Linde, Sheila Grosdidier, Monica Dixon Perry and I will challenge you to bring it to the next level, but we also expect to learn as much as we are going to impart. We will tap into the expertise of our graduates and learn from each other. Do not miss this inaugural event. It will be held in Denver, CO March 19th through 23rd, 2007. Registration will be limited. Contact Kristine Smith, school coordinator at (303) 674-8169 or ksmith@vmc-inc.com.

Level I VMC School of Veterinary Practice Management - If you have not yet attended our school, now is your chance. Enrollment is open for the April Level I school. The VMC School of Veterinary Practice Management is a one week highly intensive training program for veterinary practice managers. We strive to teach practical, practice management. You will not learn about Maslow's Heirachary of needs, but you will learn how to motivate your team and effectively delegate. The school is taught by individuals who actually have done what they are teaching, not someone who has never worked in a veterinary hospital before. Your instructors are Dr. Mary Ann Vande Linde, Sheila Grosdidier, Monica Dixon Perry, Gary Glassman and Mark Opperman. Five days of intensive training in all aspects of practical veterinary practice management. For more information visit our web site at www.vmc-inc.com. Registration is limited to 20 students per class to accomodate individual instruction. We hopefully will see you in April.

The Art of Goal Planning

There is an art to goal planning. It is not simply writing down a list of things you want to accomplish in the next year but truly working out the details of what you wish to do and how you wish to incorporate them into your practice. In order for goals to be successful, they must be S.M.A.R.T. goals, this is an acronym for, Specific, Measurable, Actionable, Realistic and Time bound. Any goal you set for yourself or your practice must be a S.M.A.R.T. goal...

In an article written for Veterinary Economics by Mark Opperman, he answers the question, "What are the ten things a practice manager needs to know if he or she is to be effective?"

I was thinking about this article in relation to the VMC School of Veterinary Practice Management and I realized that for all of the essential skills a practice manager needs, Mark has addressed them in the curriculum of our school. I have tremendous respect for practice managers and all of the responsibilities they juggle and the critical role they play in the success of their hospital. I would imagine that almost everyone, if they are honest, will find that there are some essential areas in which they could learn more and improve their skills. There's just so much to learn!

Here's an overview of Mark's answer to the question:

1. Know how to hire and develop "10" employees. Since over 60% of a manager's job is personnel related, it is imperative that a manager understand the concept of "10's" and be able to apply it in their veterinary practice. An effective manager will always strive to develop "10" employees.
2. Know how to develop effective training programs. An effective manager will hopefully have hands on experience in various areas of a veterinary practice but, if not, they need to be able to develop effective training programs. Phased training programs are incremental training programs that gradually allow employees to acquire all necessary competencies and skills to perform their jobs effectively.
3. Understand the importance of inventory control and set up and monitor an effective inventory control system. The two major expense areas that a manager can control and which will affect the practice's bottom line are support staff costs and inventory costs. Establishing an effective inventory control system and monitor it are essential to an effective veterinary practice manager.
4. Insure fee capture. A manager is not necessarily an income producer but they should be the person who insures that all services rendered are appropriately charged. In fact, an effective manager may pay for his or her salary just in this one area. A manager must know how to implement effective internal controls on both out-patient and in-patient services.
5. Be an effective communicator - As we all know, the success of any business or individual involves effective communication skills. An effective manager has a high regard for communication and works to develop these skills. Knowing how to negotiate and establish vertical channels of communication are essential tools for an effective veterinary practice manager.
6. Know your numbers. An effective manager will be aware of the industry averages and benchmark them to his or her practice. They will know what numbers to look for, what their targets are, and monitor the practice for changes that indicate potential problems.
7. Know how and when to effectively use technology. Technology can be both a friend and a foe. Knowing what is out there and how to use it is critical to an effective practice manager. An effective manager will be aware of all the various veterinary software programs available; have knowledge of accounting programs and basic programs such as Microsoft Word and Excel; and be aware of communication technology, employee scheduling programs, time clock programs and computerized employee evaluation programs.
8. Accounts Receivable. One of the ten essential elements that a manager must know and be able to oversee is accounts receivable. An effective manager will monitor this and will also be able to institute credit and collection policies in order to control this area of the practice. A manager must know how to effectively control their accounts receivable without turning away good clients. If an account gets to the collection process, a manager must be able to institute effective collection procedures and know how to use both their internal and external collection tools.
9. Be an effective delegator. Maybe one of the most important of all skills an effective manager must possess is the art of delegation. A good manager understands what they need to do and what can be delegated to others. And they also know how to follow-up on that to make sure that delegated responsibilities are accomplished as expected.
10. Walk your talk and set the example. An effective manager knows the power of doing the things he or she asks their employees to do. There is a fine line between spending too much of your time doing other people's work and not getting enough of your own work done, but once you understand that line, working with your health care team and letting them know that you are not asking them to do anything you would not do yourself adds great creditability to you and your position as a practice manager. This includes attending in-service and health care team meetings and after hour C.E., as well as working with them side-by-side.

Be More Organized

"I will be more organized in 2007." Sound familiar? Made that promise to yourself and as you scanned your office you couldn't find the paper where you wrote that note to be more organized? Here are 5 things to do to get your office moving in that organized direction:

1. Prioritize - You are in a much better situation when you achieve 3 major priorities than if you complete 6 minor tasks. Think about this as you set up your day.
2. Build a list of the things you can do in 5 minutes (send a card, make a call, straighten up your book shelf) and then the next time just a few minutes are available, refer to your list.
3. Reserve an hour each day. Close your door, turn off the phone and concentrate on priorities. It's amazing what you can accomplish in one uninterrupted hour. Yes, it's hard, but it's a secret that successful people know.
4. Reduce interruptions. Have everyone in the practice learn and use these time-saving tips. Some managers put a flag on their door or their cubicle when they are not to be interrupted. They place a dry erase board by their door and allow team members to leave them a message that will be returned after the hour is over. Many managers find that the team member has solved the problem themselves when they follow up.
5. Find 46 other tips to organize your workspace where these came from at www.ineedmoretime.com.

Do You Need To Recruit?

This is the perfect time of year to start recruiting for that new or additional healthcare team member. The first quarter of the year is the most popular time for employers to hire and for applicants to start looking. Although some practices are slower historically during the first few months of a new year, this is an excellent time to hire healthcare team members or that additional associate. You can utilize the slower time for scheduling interviews and offer a more focused and thorough training period for new hires.

Here are some tips to help you with your 2007 recruiting efforts:

1. Advertise online. More and more candidates are searching for employment on the internet. Advertising on www.monster.com and www.careerbuilder.com will enhance your exposure and attract candidates that would not otherwise have known about your employment opportunity.
2. Implement an employee referral program. If one of your current healthcare team members recommends someone for a position and they are hired and complete their 90 day introductory period, reward their referral with a cash bonus. I recommend anywhere from $100-$250. You can present this cash bonus to the lucky employee during a team meeting and I guarantee this will have your other employees excited about referring potential employees.
3. Consider signing bonuses. The market for veterinarians, practice managers and licensed technicians is not as plentiful as we would hope. Signing bonuses will make your practice and the position more attractive if the applicant has more than one offer to consider. Signing bonuses can range from $1000- $3000 depending upon the position. The employee usually receives this bonus after 6 months of employment.
4. Consider relocation allowances. Once again, the applicant pool is limited. Therefore, think of ways that will have a candidate leaning more toward your practice and offer. Relocation allowances help expedite the transition and will hopefully add an incentive for the candidate to start sooner than later. Relocation allowances can range from $1000-$2000 depending on the position. I tend to recommend these more for associate, practice manger and/or middle management type positions.

Correcting Errors in Prior Period Transactions

Usually you do not want to change transactions dated in a closed accounting period since this would change your net income in a period for which you have already issued financial statements and/or filed a tax return.

If you entered the wrong amount on a bank transaction (i.e., check or deposit) and the transaction is dated in a closed accounting period (i.e., completed bank reconciliation), do not void, delete, or edit! Instead you will need to enter a reversing entry in QuickBooks. A reversing entry is a deposit (if the transaction in error is a check) or a check (if the transaction in error is a deposit). Date the reversing entry transaction in the current period (i.e., the current date) and use the same account that you used for the original transaction so that the two transactions cancel each other out. Both the original transaction and the reversing transaction will appear on the Bank Reconcile screen. Click off and clear both transactions.

Finally, enter the correct amount in a new transaction dated in the current accounting period. Click off and clear this transaction through the Bank Reconciliation screen when it clears the bank. The net effect on your Profit & Loss report in the current period is the difference between the reversing entry and the new transaction.