WTA Veterinary Consultants
Denise L. Tumblin, CPA
3200 Riverside Drive, Columbus, Ohio 43221-1725
Phone (614) 486-9700
Financial and Accounting Essentials for Practice Managers
Objective Statement: Hospital administrators and practice managers need an understanding of the practice’s financial reports and the key performance indicators that need attention. While you may not be responsible for preparing the financial reports, you do need to understand what you’re reviewing. Declines in profitability impact the practice’s ability to pay the bills, offer competitive wages and benefits, buy new equipment, and protect the practice’s investment value.
What are the key financial reports practice managers need to review each month? If you’ve ever been asked (or asked yourself) these questions and weren’t sure of the answers, join us for a discussion designed to provide the basics about your P&L to elevate your financial savvy and clear up any misconceptions or confusion about the business side of veterinary practice. We’ll also explore what the revenue and expense KPIs look like in a practice and discuss how to get there in your practice.