HVMS Case Study: Increasing Practice Value CALGARY, AB, April 20, 2009
/24-7PressRelease/ -- In these tough economic times, veterinary practices are looking for ways to improve their bottom lines and increase the value of their practices. Using HVMS practice management software from Business Infusions, Fairfield Equine Associates has been able to accomplish that.
Fairfield Equine implemented HVMS (Hospital and Veterinarian Management System) two years ago after reviewing the market for a new veterinary practice management software solution. Since utilizing HVMS, Fairfield has seen dramatic positive effects on its operations. "There is no question that the HVMS program has significantly increased the efficiency and profitability of our practice significantly in the two years since its introduction," states Dr. Mark Baus, DVM at Fairfield Equine Associates.
Specific results Fairfield saw included increasing revenues by 6.5% per year without adding any more doctors, growing transactions by 12% in 2007 and another 9% in 2008, and decreasing inventory costs by being able to more accurately and effectively manage in-vehicle drug inventories. In addition, Fairfield was able to add 25% in value to its practice in 2008, after value had been static for several years before that.
Added Dr. Baus, "The HVMS program is not solely responsible for the noted improvements in our practice's financial improvement but it has most certainly played a key role. HVMS has allowed us to more effectively capture all charges, track costs associated with each service and pharmacy item, simplify the veterinarian salary calculation, and allow efficient entry of medical records and invoices at the time of service."
Advanced veterinary practice management software systems allow practices to better analyze and manage their day-to-day operations, by reducing operating costs, increasing revenues through reduced lost billings, and growing profits by being able to accurately analyze where costs and revenues are truly occurring within a practice. HVMS brings a fresh approach to the industry - focusing on profitability accounting instead of gross-based accounting, allowing practice managers and owners to focus on the actual profitability of procedures and medications.
For additional information on how veterinary practice management software can be used to increase profits and practice value, please contact Wayne Woodward at Business Infusions, or visit
www.businessinfusions.com. HVMS software has been available commercially since 2006 and has been successfully implemented at veterinary and equine practices in several countries.
ABOUT BUSINESS INFUSIONS: Business Infusions is the developer and marketer of the HVMS (Hospital & Veterinary Management System) software program. The company provides full installation and ongoing support services for its HVMS clients, which includes many industry leading veterinarian and equine practices. Business Infusions is based in Calgary, Canada and has HVMS clients located throughout the world.
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Press Release Keywords:- software, veterinary, veterinarians, practice management, equine, horses, medical, animals, vets, doctors, profit, recession, roi, profits, hvms, business infusions, fairfield equine
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