Nov 1, 2010
By:
Denise L. Tumblin, CPA
Whether an employee leaves by choice or at your request, turnover costs your practice. There's the obvious cost of advertising for a replacement and the time spent interviewing the various candidates. But there's also the cost of lost productivity during the interim when you're short-staffed.
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Nov 1, 2010
By:
Denise L. Tumblin, CPA
Results of Benchmarks 2010: A Study of Well-Managed PracticesSM by Wutchiett Tumblin and Associates and Veterinary Economics reveal that a current partner, or a current or future associate is the most likely buyer in 69 percent of practices. And, one of the most important steps to take to prepare an associate for ownership is teaching them about and involving them in the business side of practice.
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Nov 1, 2010
By:
Denise L. Tumblin, CPA
People have a hundred decisions to make every day: from what time to get up, the route to take to work, and what they'll focus on for the day to how and where they'll spend their hard-earned money. Many veterinary practice owners assume that clients' buying decisions for veterinary services are fairly logical.
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Aug 1, 2010
By:
Denise L. Tumblin, CPA
Making your practice more profitable and positioning it for continued success isn't about luck. You don't roll the dice and hope to meet your medical and financial goals for the year.
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Aug 1, 2010
By:
Denise L. Tumblin, CPA
Veterinarians who are planning the sale of their practice often ask, "What is my client list worth?" When it comes to practice value, the short answer is nothing.
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Aug 1, 2010
By:
Denise L. Tumblin, CPA
What makes a leader? Is leadership an inherited quality, or can it be created through education, experience, and example? There's no doubt that a few select individuals seem to be naturally endowed with those qualities necessary to become a great leader. However, for the rest of us, is there any hope of becoming an effective leader?
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Apr 1, 2010
By:
Denise L. Tumblin, CPA
What makes a leader? Is leadership an inherited quality, or can it be created through education, experience, and example? There's no doubt that a few select individuals seem to be naturally endowed with those qualities necessary to become a great leader. However, for the rest of us, is there any hope of becoming an effective leader?
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Apr 1, 2010
By:
Denise L. Tumblin, CPA
The average U.S. company loses 7% of its annual revenue to fraud, with the median fraud loss for all businesses at $175,000, and the median fraud loss for small businesses at $200,000. In fact, private companies have the highest incidence of fraud (39.1%), with public companies coming in at second (28.4%), according to the Association of Certified Fraud Examiners' (ACFE) 2008 Report to the Nation on Occupational Fraud and Abuse.
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Apr 1, 2010
By:
Denise L. Tumblin, CPA
Making your practice more profitable and positioning it for continued success isn't about luck. You don't roll the dice and hope to meet your medical and financial goals for the year. Being profitable is about playing the right hand at the right moment and making changes in your practice that maximize your strengths. So use these five critical steps to ensure your practice will be flush with success.
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