Mwi presentation wed oct 24 2012

McGaunn &

How To Build A Growth Strategy For

Your Veterinary Hospital

Mark McGaunn, Managing MemberOctober 24, 2012

www.mcgaunnschwadron.com

© 2012 McGaunn & Schwadron, CPA’s, LLC

Company Overview

McGaunn & Schwadron, CPA’s, LLC (M&S)

M&S formed in 2009 by merging a veterinary CPA firm with a dental CPA firm

We provide value by advancing the financial health of veterinary practices and their owners through the successful phases of acquisition, growth, and transition

M&S works strategically with veterinary specific lenders, insurers, legal counsel and pension administrators to advance client concerns


Our Mission

“Partner with veterinary practice owners to provide highly-personalized tax, financial planning, and growth solutions.”

Solutions to veterinary practice owner and manager’s simple and complex needs

Practice Start-up Consulting Acquisition Due Diligence & Consulting Tax Planning & Compliance QuickBooks & Accounting Solutions Practice Management Consulting Fee Only Financial Planning Investment Portfolio Management Retirement Plan Design and Management


Mark McGaunn, CPA/PFS, CFP®CEO/Managing Member28 years experience

Alan M. Schwadron, CPADirector of Tax Services41 years experience

Your Growth Team

Former head of asset allocation strategies for Charles Schwab Investment Management; managed over $3 billion of assets


Veterinary Practice Owner’s Growth Program

Growth Models


Growth Philosophy

Growth can be managed using a disciplined approach supported by sophisticated technology

Managing costs and taxes is not as critical an aspect of growth as it is assumed to be

Understanding pet owner behavior under different care situations can enhance retention and referrals

Each pet is different and requires personalized solutions

Make growth a NORMAL part of practice culture, not a new initiative


Veterinary Practice Owner’s Growth Program Process Overview

AdoptCEO

StandingDevelopStrategic

Growth Plan

Build PerfectSystem

ExternalPlan

Replicate positive findings, don’t try and fix negative findings if positive ones easily adopted Fmr Southwest CEO Howard Putnam

Right Pet Owners

Niche Practice

Focus! Comfort with

Tools Available Written

Procedures Staff Driven Dry/Live Run

Days

Internal Plan

Web/Blog Social media Vendor Alliance Media/Press Select Sponsors

Pet Owner Referrals

New Services Staff on 24/7 Right patient


High Quality CEO (Chief Executive Optimist)

… positive vision, risk aware…


High Quality CEO Material(HQCEO)

Objective:

Fix your business so it operates without you (almost on autopilot), to a point

Yield:

What creates true value for the practice? Who is our target audience? What do we do well? What do we do poorly? Are there trends we need to jump on? Rx? Tx? CR? DR?

Sustainability:

Is our competition about to crush us? Do we have a talented workforce? Can we handle growth or will we get burned out?

Delegation:

You are not tied to lower valued tasks, but work on those that either (a) generate revenue for the practice not possible to delegate and (b) frames the future for growth

Comfort Zone

Operate outside it.


CEO Leadership/Management

DVM

CEO

• Day to Day Mgmt• Strategic Plan Dev• Service Line Grwth• Patient Care Mgmt• Quality Control• Capital Planning• Staffing

Practice Manager

DVM

• Clinical Outcomes• Pt Safety Measures• Pt Satisfaction KPIs• Operations KPIs• Financial KPIs

DVM

40-60% Fixed Duties 60-40% Performance Metrics


Veterinary Practice Owner’s Growth Program The 3 Strategies-Pick 2

3 Growth Strategies

Internal Revenue Re-educate staff to

cross-sell services Re-engineer how

jobs done, deploy new technologies

Help current pet owners focus on distinguishing factors not price

Current A Owners Current B Owners

External Revenue

Web site remodel SEO package Facebook/Twitter Wellness Plans Rehab/Cold Laser Tracking Referrals Uniforms/Clothing Wrapped Vehicle Pet Ambulance Dog Park Sponsor Be Out There Vendors

Profit-Driven Cut all variable

expenses by 10% Memorize the

national KPI stats that make you depressed about your practice


Did this help increase their growth?


Wellness Plans


Veterinary Practice Owner’s Growth Program Wellness Plans

Should you believe the press?

Positives Can cover animals from birth

to senior ages Allows for add-on services

such as microchip, spay/neuter, dental prophylaxis, other screening tools

Assumptions for individual practice pricing, discounts, included & excluded service factored in

Negatives

Must sell new TX modality Concerns about pts. leaving

after getting “free” service Pet owners frustrated

comparing your plan to others (similar to pet insurance frustration)

Need credit card and email typically (3rd party may allow)

DVM Production concerns


Web & Social Media…a disciplined strategy…


SEO Realities

Search engine optimization (SEO)

Process of improving the visibility of a website or a web page in a search engine's "natural" or un-paid ("organic" or "algorithmic") search

Keyword Search Competitive Analysis Site Optimization Keywords/Titles Link Building Videos


Social Media (all media actually) Process

The whys and wherefores

You don’t know who it hits until they respond Objectives? Target Audience? What is the competition doing? What are you going to say? Who through? Daily Plan? Weekly Plan? No Plan? Measure regularly


Marketing Realities

Sample Marketing Focus

Facebook Marketing Twitter Marketing LinkedIn Marketing Youtube Marketing Email Blasts Google Trends site Link Building Blog Writing (informational) Press Release Writing (maybe)


Vet client’s practice out there on FaceBook


Our Results

Before SEO on Google “veterinary CPA” – 3rd page After SEO optimization now # 2 - # 3

Before SEO on Google “dental CPA New England” # 4 After SEO optimization now # 2

Before SEO on Google “veterinary financial planning” -2nd page

After SEO optimization now # 2


New Service/Equipment…should you?…


Class IV 4 Laser w/o Hydrotherapy Expenditure

8 Surgeries/wk2 Dental Cleanings/wk12 Ortho/Derm Cases/wkCharge $10/Tx, $14,280 2013 net cash after lease pmtCharge $15/Tx, $23,262 2013 net cash after lease pmt

Possible?


Hydrotherarpy PracticeWebsite Notables

“A five minute swim in the hydrotherapy pool is the equivalence of a five mile run.” Yeah, right.

What if your Golden Retriever is afraid of the water??? Why do many practices have a $35/$350 price for “fun

swims”????


Thank You!谢谢 Merci

Danke SchonGrazie

ありがとう 당신을 감사하십시오

Obrigado Gracias


Contact Information

Mark J. McGaunn, CPA/PFS, CFP®Managing Member

McGaunn & Schwadron, CPA’s, LLC75 2nd, Avenue, Suite 425Needham Heights, MA 02494-2897

main (781) 489-6651direct (781) 348-9227e-fax (781) 479-5985e-mail [email protected]: www.mcgaunnschwadron.com.com

Mwi presentation wed oct 24 2012

Documents

mcgaunn mark mcgaunn

growth philosophy growth

growth solutions

growth team mark mcgaunn

growth models

aspect of growth

llc ms ms

practice culture