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Financial Management of the Veterinary Practice

by Justin Chamblee, CPA, MAcc; Max Reiboldt, CPA

Is the financial management of your practice not your strong suit? Shore up your skills and achieve greater financial stability with one, easy-to-understand resource.

$54.95 Member
$64.95 Nonmember

Product Code:
FNMNV
Pages:
176
ISBN:
978-1-58326-124-8
Publication Year:
2011
Format:
Book
Dimensions:
7" x 10"
Publisher:
AAHA Press


Click here to get this book plus two more VHMA-recommended titles and save!
 
Maybe you’re new to the financial side of the practice. Or maybe you’re just ready to take your skills—and your practice—to the next level. Whether you’re financially savvy or skittish, Financial Management of the Veterinary Practice is the one ally you’ll need. Easy to understand and brimming with examples, this all-in-one resource provides foundational financial information attuned to veterinary professionals. Learn how to establish sound operational processes, make informed decisions, and increase financial success with user-friendly
features like:
  • Charts, tables, checklists, and sample reports
    to illustrate the concepts
  • Key calculating ratios for measuring
    profitability and productivity
  • Tips on how to communicate effectively with
    financial professionals
  • Best practices for short- and long-term planning
  • A glossary of financial terms
  • Real-world examples

This book is also available for

Recommended reading by the CVPM certification program, offered by the VHMA.

Justin Chamblee, MAcc, CPA, is a financial services manager for Coker Group. He works with clients in a variety of financial areas and ventures and has contributed to Coker publications, including Physician Entrepreneurs: Strength in Numbers—Consolidation and Collaboration Strategies to Grow Your Practice and Physician Entrepreneurs: Going Retail—Business Strategies to Grow Beyond Traditional Practice Models.
 
Max Reiboldt, CPA, is president and chief executive officer of Coker Group. He is a prolific author and an accomplished public speaker on health-care management topics.

Preface

 
1. Foundational Elements of Financial Management and Reporting Standards
Understanding Financial Statements
Proper Financial Statement Structure
Characteristics of Good Financial Reporting
Reporting Veterinary Practice Operating Results
Financial Analysis Simplified
Case Study: Financial Statement Analysis
Summary
 
2. The Revenue Cycle
Components of the Revenue Cycle
Steps to Ensure Revenue Maximization
Revenue Enhancement
Sources of Revenue
Productivity Defined
Ancillary Services
Summary
 
3. Controlling Expenses
Expense Management
Types of Expenses
Major Classifications of Expenses
Summary
 
4. Assessing the Effect of Financial Performance
Firsthand Analysis of Financial Performance
Other Indicators to Watch
Measures of Productivity
Variance Analysis
Balance Sheet Considerations
Role of Outside Professionals
Summary
  
5. Ratios and Benchmarking
Ratios
Benchmarking the Veterinary Practice
Summary
 
6. Cash Management and Associated Internal Controls
Developing Banking Relationships
Fraud and Embezzlement Prevention
Credit Cards
Petty Cash
Summary
 
7. Budgeting, Pro Formas, and Other Financial Planning Processes
Budgeting
Pro Forma Statements
Business Plans
Feasibility Studies
Capital Acquisition and Investment Scenarios 
Summary
  
8. Supplemental Financial Reports
Dashboard Reports
Flash Reports
Detailed Reports
Summary
  
9. Information Technology and Financial Management
Going Paperless
Conducting a Successful Implementation
Data Backup and Recovery Protection 
Summary
 
Glossary
Index 

     


Watch the video to learn why every veterinary practice should have a copy of Financial Management of the Veterinary Practice.
Financial Management of the Veterinary Practice has been such a valuable resource to me during my career. I originally purchased the book because it was on the CVPM prep reading list. It helped me tremendously as a hospital manager. Now that I am in a regional role and helping to train and develop new hospital managers, I recommend it to all of them. I am reluctant to loan out my copy, so I usually just end up just buying them their own.”
—Kaite King, RVT, Regional Operations Director, NC5, and Camp Bow Wow, Fair Oaks