iVET360 Case Studies
Modern Veterinary Marketing | Core problem: updating marketing to compete in the digital space
This successful Northwest practice enjoyed double-digit annual growth for many years. As they expanded, they ran into increasingly heavy competition from large corporate practices, limiting growth patterns. The client wanted to compete with top-tier hospitals (with $4 million+ annual revenue) but required a dedicated marketing department to do so. iVET360 was hired to redesign the client’s marketing framework, establish a strong presence in the new market segment, track analytics and provide ongoing support.
iVET360’s revitalized marketing best practices were highly successful. The client’s website SEO ranking improved to second overall for veterinary-based searches in a highly competitive, major metropolitan area. Organic website impressions increased by 46 percent. Ongoing reputation management efforts resulted in 40 Google reviews, with an average rating of 4.8/5, and 60 Yelp reviews, with an average score of 4.5/5, making the hospital the highest-rated veterinary practice in the area. New client growth increased an average of 10 per month for an estimated $15,000 increase in monthly revenue.
Data-driven Business Operations | Core problem: A shortage of operational data impeded hospital growth
This established $3.6 million veterinary practice experienced a plateau as the hospital entered maturity; its growth slowed to 4 percent annually. The client identified a lack of hospital data as one of the core issues hindering business operations. Doctors and staff had no time-efficient method to collect practice information or review financial data. The inability to analyze key metrics led to operational inefficiencies that prevented the owner from accurately tracking hospital performance and forecasting budgetary requirements. Underperforming areas were left unidentified and the practice suffered as a result.
iVET360’s analytics-based optimization improved important backend practice operations, reversing the stagnant growth trend. After implementing best practices, the hospital saw average client growth increase 5.6 percent from month-to-month. Client retention rates rose from 38 percent in 2013 to 66 percent in 2014. Average profit margin increased from 14 percent to 16 percent. Net inbound phone calls, practice visits, monthly transactions and ATC all increased. These combined improvements resulted in an 18 percent increase in revenue and three practice-record months. The hospital is now projected to be a $4 million practice after one year of practice development services.
Managing Inventory in a Modern Practice | Core problem: improving inventory management systems and processes
This regional veterinary practice is located in the Pacific Northwest and has recorded revenue in excess of $1.7 million per year, averaging 15 percent annual growth over the last three years. Like many hospitals its size, managing inventory was an ongoing challenge that continued to compound as the practice expanded. Hospital staff and doctors grew increasingly frustrated with the situation, leading to decreased staff morale, inflated inventory costs and reduced net productivity.
Within 30 days of implementing best practices, issues decreased significantly. Direct results included more efficient inventory management, reduced overhead and more effective material purchasing. Hospital staff satisfaction grew as occupational stress from the previous system was reduced. This contributed to a positive cultural shift in the workplace, improving productivity and motivation.