Veterinary Practice and Vet Clinic Accountants in Minneapolis, MN
Warning Signs Your Practice Needs Better Financial Visibility:
-
☐ You're not sure if your doctor compensation percentages are competitive
-
☐ You can't quickly answer "What's my profit margin by service type?"
-
☐ You're considering adding another doctor but don't have clear ROI projections
-
☐ Your practice management software and accounting software don't talk to each other
-
☐ You only see detailed financials once a year at tax time
-
☐ You're growing revenue but not seeing more in your paycheck
Trusted by Twin Cities Veterinary Practices Since 1998
-
Experience with small animal, equine, and mixed practices
-
Familiar with AVMA benchmarks and best practices
-
Integration with Avimark, Cornerstone, etc.
-
Work with both independent and corporate practices
Services Offered:
Common Key Performance Indicators to Monitor in Your Practice:
- Revenue per full-time veterinarian should be $300,000 – $500,000 per year
- Veterinarian wages should be 23% of gross vet professional fees
- Profit after veterinarian’s reasonable salary should be 10-20% of total practice revenue
- Biggest expenses are usually salary (32%), drugs (15-17%) and rent (5-9%)
- 80% of industry revenue is generated by services to dogs and cats
- Average wages per employee are $35,000
- Average number of employees is 7.6
- Average revenue per employee is $101,000
Common Questions from Veterinary Practice Owners FAQ
-
What's a healthy profit margin for a small animal practice?
-
How much should I be paying myself as owner/doctor?
-
What practice management systems do you integrate with?
-
Can you help with associate buy-in/buy-out planning?
-
Do you work with both AAHA-accredited and non-accredited practices?
-
How do you handle inventory tracking for controlled drugs?