HOSPITAL REVENUES AND EXPENSES
| Course Description |
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This 2 week course is designed to help management staff members understand how revenue is generated as active or passive income and how expenses and revenue determine profitability.
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| Learning Objectives |
Upon completion of the course, the student will be able to:
- describe the sources of revenue in your hospital
- understand the difference between active income and passive income
- give examples of veterinary products and services that generate active and passive income
- understand the important role members of the veterinary health care team play in generating passive income
- recognize the importance of delegation in generating passive income
- appreciate the critical importance of passive income to overall hospital productivity
- understand cost behavior in small animal veterinary practice (e.g. fixed costs, variable costs, etc.)
- name common variable expenses in a small animal practice
- list common fixed expenses in a small animal practice
- appreciate the implications of a fixed-cost business
- grow your way to higher profits, and more income for the doctor(s) and other health care team members
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| Course Content |
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Some of the topics covered include active and passive income, understanding cost behavior, and variable expenses.
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| Required Materials |
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No materials required.
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| Testimonials |
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...Very useful learning more about passive income and how to generate more of this for my hospital.
...I like the instructor, she gives relevant feedback and chooses questions that make you learn the material.
...Assignment one made me take a critcal look at the the doctors and other staff members to make sure we do delegate tasks appropriately. I'm glad to see we do.
...An excellent course for new managers.
... This instructor is by far the best I have had a course with. She is timely with her input and pushes you to think.
... The explanation of costs both fixed and variable and how those costs may effect the practice was extremely helpful!
... I liked the examples. It helps relate it to your own job/practice.
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| Student Login Requirements |
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VetMedTeam courses are asynchronous - they do not contain real time components. Students log in while a course is in session at times convenient to personal schedules.
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| Course Completion Requirements |
- Participation in instructor lead topics for each of the units
- Grade of 80% or better on the final exam
- Submission of the course survey
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| Recommended Student Criteria |
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This course is appropriate for any member of the veterinary practice team who seeks to have a greater understanding of the topics covered.
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| Continuing Education Credits |
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This course is applicable for 5 CE credits toward the continuing education requirement for the Certified Veterinary Practice Manager program offered by the Veterinary Hospital Managers Association (VHMA).
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| Course Writer |
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Fritz Wood, a Certified Public Accountant and Certified Financial Planner with contributions by Katherine Dobbs, RVT, CVPM.
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| Pricing |
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Price: $88.00 USD
Students may enroll in this course after it has begun, up to the enrollment deadline date. Participants who enroll after the start date do not miss out on any components of the course. There are no real time sessions. The design of this course allows each student to proceed based on individual schedule, as long as all assignments are submitted by the assignment submission deadline.
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| In addition, you many use your MERIAL® Rewards Visa® Prepaid Card to pay for courses. If you are not enrolled in the MERIAL Rewards program, ask your Merial Sales Representative or call 1-800-307-7000. If you do not have enough points and wish to supplement your payment with another card, please write to CE@VetMedTeam.com. |