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As with small animal work it is very important to understand the breakdown of turnover in the different areas of equine work. These might include the areas set out in the table.
Again, vet systems are generally sophisticated enough to be able to manage these areas proactively on either a practice or an individual vet basis. Many practice owners review month end invoices to ensure vets have charged appropriately for the services provided. It is always amazing how much “lost” income can be captured in this way. Some practices are now using checklist techniques as mentioned in “Small Animal Opportunities” and are adopting healthcare packages.
In equine work there is often a very strong loyalty towards a particular vet rather than necessarily to a practice and it is very important that the owners of the practice recognise this fact and ensure that key individuals remain motivated and perhaps incentivised to continue to look after the interests of the practice. This might also include ensuring that larger clients have a “team” approach with perhaps more than one vet being actively involved. This helps look after the client but also reduces the risk to the practice.
Key Influencers
There are often a number of key influencers in the market place, and three of the main ones are:
- Yard Managers
- Instructors
- Farriers
Many equine practices have a clear strategy as to how they will manage each of these groups. This might involve having regular meetings / events to involve these people. All of these people are likely to suffer if there is a downturn, and if you are a proactive practice that continues to work with them then it is likely that you will continue to generate referrals and long term loyalty. Often they will be higher up the “pecking order” for the client in terms of who the client will turn to first and it is essential therefore that you are positioning the practice to be a preferred supplier of theirs. This is an area to consider giving particular focus if it is not already being done at the practice.
Visiting Specialists / Clinics
As with small animal work, there are opportunities for equine practices to improve the client service and indeed income through the use of visiting specialists. This might be in conjunction with your own internal clinics where you are able to generate enhanced work up through, for example, lameness work. Such clinics can often be very productive, not only in generating high level work but also ensuring that clients visit your premises thereby enhancing efficiency by being able to see a greater number of horses in any one day. It is important to charge appropriately for the “work ups”, maximising the return on “higher level” work. Even if you do not have facilities at your practice, consideration should be given to charging higher fees for such work “off site”.
Dentistry work
It sometimes seems odd how readily equine practices accept dentistry “technicians” working with their clients when they are often able to undertake the work themselves. This is a significant area of opportunity for many equine practices who are often able to provide a better overall care for the horse. It is very important to ensure clients are aware of your capabilities in these areas as the income generation can be significant. Just ensuring clients are aware that you undertake “free” dental checks at the annual vaccination can enhance awareness. Communicating clear messages to the key influencers mentioned above can also be worthwhile. Why not consider tasking one of your equine team to develop this area for the practice?
Healthcare Approach
As with small animal work it is important to engage the client regarding the benefits of a healthcare philosophy which might include discussing the following areas:
- Vaccinations
- Wormers
- Dentistry
- Insurance
- Microchipping
We believe that healthcare plans represent an area of opportunity for equine practices. Ten years ago many small animal practices were saying they did not believe this could happen for them, it is important that equine practices follow the lead that has been taken by small animal in such areas.
CPD Events
These can prove very useful for practices to invite key influencers and clients to relevant events. These might also include vets from other practices where referral services are offered. A good CPD programme reinforces the quality of the practice and its key services / expertise.
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