Sharing financial information with the veterinary team
How much do your veterinary team members know about your practice's finances?
Aug 13, 2008 VETERINARY ECONOMICS
Sharing your veterinary practice's financial information with your team members gives them a chance to see how the practice works, where they fit into the grand plan, and how their roles impact the practice's bottom line. And some of you agree that sharing that information is a good thing. According to the 2008 Veterinary Economics Business Issues Study, 62 percent of practice owners say they share practice finance information with their teams. And 57 percent of team members agree that the practice owner tells them about the practice finances. But there's a bit of a discrepancy when associates enter the picture. Only 38 percent of associates say team members are informed of the practice's financial situation. For more about this discrepancy, click on "Owners' and Associates' Views Differ on Team Training" below.