Andrew Clark, DVM, MBA, uses insurance expense to illustrate action steps when managing some of the expenses on your balance sheet. He reminds us that getting competitive comparisons regularly is important.
Source: Is My Practice Healthy, July 29, 2016.
Veterinarians tend to be as loyal to vendors as we wish our clients were loyal to us. Insurance coverage is often provided by a local friend, someone we know from yoga, kids’ activities, college or even from High School. Your veterinary business may be the only one she insures. Insurance coverage is often parked with a local provider, never negotiated, for years and sometimes decades.