PM57 - CANCELLED - Management Benchmarks: Guidelines, Goals, or Garbage?

Tuesday, February 21, 2023

9:00 AM – 9:50 AM

Location: Breakers K, Level 2

Earn 1 CE Hours

Presenter(s)

Michael D. Hargrove, DVM, MBA, CVA (he/him/his)

Valuation Analyst
Summit Veterinary Advisors
Duluth, MN, United States

Handouts

Moderator(s)

Cris Chilelli, CVPM

Regional Operations Director
VCA MVH
Goodyear, AZ, United States

As veterinary management professionals, you are presented with a wide array of benchmarks to help you assess your practice performance. Too often, these benchmarks are misinterpreted as goals to be achieved, rather than guidelines to be interpreted based on specific practice characteristics. This session will provide a practical overview and specific examples of how to appropriately use benchmarks with the perspective needed to correctly apply them to your practice.

Learning Objectives:

Learn how descriptive statistics can be great to describe trends, but are not helpful for individual practice management
Discuss how practice characteristics can influence benchmark performance
The importance of internal benchmarking vs. benchmarking against national data
Avoid analysis paralysis to become an effective user of benchmarking data