Mwi presentation wed oct 24 2012

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Mwi presentation wed oct 24 2012

  1. 1. McGaunn & Mark McGaunn, Managing Member October 24, 2012 www.mcgaunnschwadron.com How To Build A Growth Strategy For Your Veterinary Hospital
  2. 2. Company OverviewMcGaunn & 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 © 2012 McGaunn & Schwadron, CPA’s, LLC
  3. 3. 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 © 2012 McGaunn & Schwadron, CPA’s, LLC
  4. 4. Your Growth Team Mark McGaunn, CPA/PFS, CFP® Alan M. Schwadron, CPA CEO/Managing Member Director of Tax Services 28 years experience 41 years experience Former head of asset allocation strategies for Charles Schwab Investment Management; managed over $3 billion of assets © 2012 McGaunn & Schwadron, CPA’s, LLC
  5. 5. Growth Models© 2012 McGaunn & Schwadron, CPA’s, LLC
  6. 6. 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 © 2012 McGaunn & Schwadron, CPA’s, LLC
  7. 7. Veterinary Practice Owner’s Growth ProgramProcess Overview Adopt CEO Standing Develop Strategic Replicate Growth Plan positive findings, don’t Build try and fix  Right Pet Perfect Owners System negative findings if  Niche Internal positive ones Practice  Comfort with Plan easily adopted  Focus! Tools Available External Fmr Southwest  Written Plan  Pet Owner CEO Howard Procedures Referrals Putnam  Staff Driven  Web/Blog  New Services  Dry/Live Run  Social media  Staff on 24/7 Days  Vendor Alliance  Right patient  Media/Press  Select Sponsors © 2012 McGaunn & Schwadron, CPA’s, LLC
  8. 8. © 2012 McGaunn & Schwadron, CPA’s, LLC
  9. 9. High Quality CEO Material(HQCEO)Objective:Fix your business so it operates without you (almost on autopilot), to a pointYield: Sustainability: Delegation: Comfort ZoneWhat creates true Is our competition You are not tied to Operate outside it.value for the practice? about to crush us? Do lower valuedWho is our target we have a talented tasks, but work onaudience? What do we workforce? Can we those that either (a)do well? What do we handle growth or will generate revenue fordo poorly? Are there we get burned out? the practice nottrends we need to possible to delegatejump on? Rx? Tx? and (b) frames theCR? DR? future for growth © 2012 McGaunn & Schwadron, CPA’s, LLC
  10. 10. CEO Leadership/Management CEOPractice DVM DVM DVMManager • Day to Day Mgmt • Clinical Outcomes • Strategic Plan Dev • Pt Safety Measures • Service Line Grwth • Pt Satisfaction KPIs • Patient Care Mgmt • Operations KPIs • Quality Control • Financial KPIs • Capital Planning • Staffing 40-60% Fixed Duties 60-40% Performance Metrics © 2012 McGaunn & Schwadron, CPA’s, LLC
  11. 11. Veterinary Practice Owner’s Growth ProgramThe 3 Strategies-Pick 2 3 Growth Strategies Internal Revenue External Revenue Profit-Driven  Re-educate staff to  Web site remodel  Cut all variable cross-sell services  SEO package expenses by 10%  Re-engineer how  Facebook/Twitter  Memorize the jobs done, deploy  Wellness Plans national KPI stats new technologies  Rehab/Cold Laser that make you  Help current pet  Tracking Referrals depressed about owners focus on  Uniforms/Clothing your practice distinguishing  Wrapped Vehicle factors not price  Pet Ambulance  Current A Owners  Dog Park Sponsor  Current B Owners  Be Out There  Vendors © 2012 McGaunn & Schwadron, CPA’s, LLC
  12. 12. Did this help increase their growth? © 2012 McGaunn & Schwadron, CPA’s, LLC
  13. 13. © 2012 McGaunn & Schwadron, CPA’s, LLC
  14. 14. Veterinary Practice Owner’s Growth ProgramWellness Plans Should you believe the press?Positives Negatives  Can cover animals from birth  Must sell new TX modality to senior ages  Concerns about pts. leaving  Allows for add-on services after getting “free” service such as microchip,  Pet owners frustrated spay/neuter, dental comparing your plan to others prophylaxis, other screening (similar to pet insurance tools frustration)  Assumptions for individual  Need credit card and email practice pricing, discounts, typically (3rd party may allow) included & excluded service  DVM Production concerns factored in © 2012 McGaunn & Schwadron, CPA’s, LLC
  15. 15. Web & Social Media…a disciplined strategy…© 2012 McGaunn & Schwadron, CPA’s, LLC
  16. 16. SEO Realities Search engine optimization (SEO) Process of improving the visibility of a website or a web page in a search engines "natural" or un-paid ("organic" or "algorithmic") search  Keyword Search  Competitive Analysis  Site Optimization  Keywords/Titles  Link Building  Videos © 2012 McGaunn & Schwadron, CPA’s, LLC
  17. 17. 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 © 2012 McGaunn & Schwadron, CPA’s, LLC
  18. 18. Marketing RealitiesSample Marketing Focus  Facebook Marketing  Twitter Marketing  LinkedIn Marketing  Youtube Marketing  Email Blasts  Google Trends site  Link Building  Blog Writing (informational)  Press Release Writing (maybe) © 2012 McGaunn & Schwadron, CPA’s, LLC
  19. 19. vet client’s practice out there onFaceBook © 2012 McGaunn & Schwadron, CPA’s, LLC
  20. 20. 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 © 2012 McGaunn & Schwadron, CPA’s, LLC
  21. 21. New Service/Equipment …should you?… © 2012 McGaunn & Schwadron, CPA’s, LLC
  22. 22. Class IV 4 Laser w/o HydrotherapyExpenditure 8 Surgeries/wk 2 Dental Cleanings/wk 12 Ortho/Derm Cases/wk Charge $10/Tx, $14,280 2013 net cash after lease pmt Charge $15/Tx, $23,262 2013 net cash after lease pmt Possible? © 2012 McGaunn & Schwadron, CPA’s, LLC
  23. 23. 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”???? © 2012 McGaunn & Schwadron, CPA’s, LLC
  24. 24. Thank You! 谢谢 Merci Danke Schon Grazie ありがとう당신을 감사하십시오 Obrigado Gracias © 2012 McGaunn & Schwadron, CPA’s, LLC
  25. 25. Contact Information Mark J. McGaunn, CPA/PFS, CFP® Managing Member McGaunn & Schwadron, CPA’s, LLC 75 2nd, Avenue, Suite 425 Needham Heights, MA 02494-2897 main (781) 489-6651 direct (781) 348-9227 e-fax (781) 479-5985 e-mail mark@mcgaunnschwadron.com web: www.mcgaunnschwadron.com.com © 2012 McGaunn & Schwadron, CPA’s, LLC

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