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Senior Advisory Meetings

Senior advisory meetings are a forum to help our clients manage their practice through improved awareness and focus of resources. The meetings are held monthly or quarterly depending on the needs of the Practice, and are typically attended by the owners and appropriate senior management of the Practice and representation from our senior staff.

The forum includes identification and monitoring of key performance indicators (KPI’s). KPI’s can cover all aspects of both financial and operational performance. We work with our clients to establish KPI’s for their practice and to address barriers to having the reliable data needed on a timely basis. The senior management meetings are based on the use of the KPI’s as the foundation for helping to identify strengths, weaknesses, opportunities, and trends.

It is generally a lot easier to manage a practice from an informed position. Practices that invest the time to maintain reliable financial/operational performance data and use it will see better results. The 2005 AVMA-Pfizer Business Practices Study reported that practices that monitor financial information on a timelier basis experience about a $42,500 increase in income just from “paying attention to the numbers.”

The senior advisory meetings and KPI monitoring are designed to provide the owner and senior management of the practice with a forum to focus on improving practice performance through establishing direction, goals and action plans.

At Lacher McDonald & Co., CPAs, we work to stay abreast of trends developing in the business side of veterinary medicine. Being accountants by training we are knowledgeable about the story being told by the financial numbers of your practice. We pride ourselves on the ability to ask the questions that help you achieve the success you have defined for your practice and personal financial life.

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