Embracing that change can bring opportunities for veterinary practices brave enough to know where they stand financially and how to use that information to transform their work.
Benchmarks, profitability, and economic stability matter—both for individual practices and for the profession as a whole. Of course, it is up to each veterinary practice to decide for itself what system for recording financial data works best for it. However, to the extent that more practices collect and use the same standardized financial data, the sample size for economic research grows and the insights drawn from the data are more likely to be reliable and meaningful.
It’s long past time for the veterinary profession to compare apples to apples financially. This booklet is your guide to inputting, assessing, and improving financials using the AAHA/VMG Chart of Accounts.