As 2018 closes, many teams are getting ready for a full, year-end inventory count. Some have already completed cycle counts of key items. They’ve discovered duplications, hidden outdates and found things they forgot they had. Once the counts are done, computer records will require adjustment.
As computer counts are reset, it is a good time to review the margin settings for items that are dispensed or those routinely charged with procedures. I define routine as 12 units per month on average for a starting point. Today’s Veterinary Business Retail Price Index can help establish a competitive consumer price for many individual SKUs.
Source: Today’s Veterinary Business, December 10, 2018. Link. The Retail Price Index is designed to help practices understand market pricing and keep more revenue in the practice. TVB pulls information from a myriad of online and consumer-facing resellers to take the guesswork out of market pricing.
INSIGHTS:
The information is relevant ONLY for consideration to understand consumer-facing market conditions and is NOT reflective of any MSRP information from product manufacturers. Today’s Veterinary Business takes no role in establishing any of these prices and the information is representative of the market only as a reflection of products that are available in publicly published internet pricing.