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PRAC113-0811: PRACTICE CEnts: The Successful Management of a Veterinary Hospital, Module I

INSTRUCTOR: Jon C. Dittrich, MBA
COURSE OPEN: August 9-September 30, 2011
REAL TIME SESSIONS (RTS): Tuesday, August 16; 8:00-9:00pm ET (USA) and Tuesdays, August 23, 30, September 6, 13 and 20, 2011; 3:00pm-4:00pm ET (USA)
Course RTS Times in Your Area

Practice Sessions: In order to prepare you for a successful experience in your CE course, we request you attend a practice session prior to the first RTS. Times and dates will be listed in your course confirmation email. Expect to spend up to 1 hour at one of the 2-4 practice sessions held prior to the first RTS.

Level and Prerequisites: Participants in this course should be an owner, a potential owner or in a management position at a veterinary practice. This is the first of three management series on improving a veterinary practice profits. This is the entry level course designed for people who have little or no previous management training. In this session, we supply a working knowledge of the financial tools we will use in the intermediate and advanced sections of Practice CEnts. In the intermediate and advanced sections we will structures these tools so we can make better management decisions and thus more profitable decisions for the practice. This class is a prerequisite of BOTH the intermediate and advance Practice CEnts sessions.

VIN CE Course: Open to veterinarians and office / hospital / practice managers.
This course has been approved for RACE for veterinarians and has been submitted for VHMA approval for CVPM credits. This course has NOT been approved for Veterinary Technicians.

Course Description:
Most education geared toward a veterinary hospital is centered on medicine. Although that is very important, we must not forget a veterinary hospital is also a BUSINESS. The financial success of a veterinary hospital has more to do with being a success business man or woman than being a successful veterinarian. This course is designed to help either a veterinarian or practice manager learn how to manage the BUSINESS of the veterinary practice. By doing so, the practice should become more profitable and less stressful for the owner.

This course will consist of six (6)- sixty (60) minute Real Time Sessions; plus six (6)- sixty (60) minute on-line video presentations; supplemental handouts; interactive message board discussions; and multiple choice quizzes (after each Real Time Session) designed to enhance course effectiveness and material retention. Audio will be used during the Real Time Sessions.

Upon completion of this course, the participant should be able to:

Course Materials: Course materials will be available in the course library prior to each Real Time Session.
Recommended textbook: Blackwell's Five Minute Veterinary Practice Management Consult.

About the Instructor: Jon Dittrich is President of Profit Profile Corporation. PPC is a veterinary practice management consulting firm with 30 years experience in the veterinary industry. Jon is also the Senior Editor of the VIN Practice Management board. Mr. Dittrich also enjoys teaches the Practice Management class at the College of Veterinary Medicine at the University of Tennessee for the past 15 years.

Course Outline:
Week 1 (August 16): Introduction to Course
Required prior to RTS #1: No required viewing
Content: In this session, we will go over the topics and format of this course, as well as discussing how to get the most out of it for you and your practice. NOTE: This first session will be held from 8:00-9:00pm ET (USA). The remaining sessions will be from 3:00-4:00pm ET (USA).

Week 2 (August 23): Industry Trends and Trends in Small Businesses
Required prior to RTS #2: Watch Practice Cents Lesson #2
Content: Review trends Pet industry including Pet ownership, veterinary services, pet services and pet products. These trends are ongoing and will have an impact on your veterinary practice now and show you how you should position yourself for the future. We will also examine SMART goal. We will set and use goals to implement change in your practice.

Week 3 (August 30): Financial Statements - Your Business Report Card
Required prior to RTS #3:: Watch Practice Cents Lesson #3
Content: We give a brief overview of the three basic financial statements. They are the Profit & Loss; Balance Sheet and Cash Flow statement. We examine why these reports are important and get a cursory overview of the contents of each and how they interrelate.

Week 4 (September 6): Profit & Loss - Revenue
Required prior to RTS #4: Watch Practice Cents Lesson #4
Content: After the overview of financial statement we return to look at them in much more depth. We delved into the first of the Big 3 Financial statements and that is the Profit & Loss statement. The Profit and Loss statement tells you whether or not you are making money. Being a profitable practice is much more enjoyable than an unprofitable one. We example the first component of the P&L and that is revenue. We examine different types of market techniques to boost revenue that leads to profits and how to structure your P&L to give you more insight into the financial workings of your practice.

Week 5 (September 13): Profit & Loss - Cost of Goods & Big 4 Expenses
Required prior to RTS #5: Watch Practice Cents Lesson #5
Content: We continue our exploration into the Profit & Loss, but this time we shift focus to expenses. There are two major types of expenses - variable & fixed. Variable expenses we call Cost of Goods Sold. Fixed expenses fall into four major categories - Staffing, facility, administrative and professional. We examine each of these expense categories in detail.

Week 6 (September 20): Balance Sheet & Cash Flow statements
Required prior to RTS #6: Watch Practice Cents Lesson #6
Content: We examine the last two financial statements in one lesson. They are the Balance Sheet and Cash Flow statement. The major components of the Balance Sheet are Assets, Liabilities & Net Worth. We look at the Balance sheet equation Assets = Liabilities + Net Worth. We review the importance of Net Worth and how increasing Net Worth increases the wealth of the owner. We finally turn our attention to the Cash Flow. We examine the 3 different activities in a Cash Flow statement - Operating activities, Investing activities and Financing activities. Finally we see the relationship between the Profit & Loss statement and how it influences our cash position.

CE CREDITS: 12

Tuition: Member $240 ($216 early bird special if enrolled by August 2, 2011).
Non-Member $350 ($315 early bird special if enrolled by August 2, 2011).

**For more on how online CE works see the Participant's Resource Center: http://www.vin.com/CE/Public/VIN/ParticipantVIN.htm

Note: "This course has been submitted for approval for 12 continuing education credits in jurisdictions which recognize AAVSB RACE approval; however participants should be aware that some boards have limitations on the number of hours accepted in certain categories and/or restrictions on certain methods of delivery of continuing education." Call VSPN/VIN CE at 1-800-700-4636 for further information. (Attendees are encouraged to check with their licensing jurisdiction(s) for information regarding recognition by their board).

Course withdrawal and refund policy: A complete refund of the paid course price will be issued when your withdrawal request is received prior to the listed start date of the course. If you wish to withdraw after the start date please contact the VIN/VSPN office 1-800-700-INFO (4636) to discuss eligibility for a pro-rated refund.

*For More Information on VIN's Upcoming CE Courses check the Course Catalog at http://www.VIN.com/CE/Catalog.htm

Katherine James, DVM, PhD, DACVIM (SAIM)
VIN Education Coordinator

VIN CE Services: CEonVIN@vin.com
1-800-846-0028 or 1-530-756-4881 or direct line to VIN/VSPN from the United Kingdom: 01452226154
Andrea Pomposo (Andrea@vin.com); ext 126
Debbie Friedler (Debbie@vin.com); ext 756
Heather Schoffstall (Heather@vin.com); ext 116
Jennifer Boyle (JenniferB@vin.com); ext 169

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