{"id":59402,"date":"2022-07-11T08:20:18","date_gmt":"2022-07-11T08:20:18","guid":{"rendered":"https:\/\/dinbeat.com\/?p=59402"},"modified":"2022-07-13T08:23:30","modified_gmt":"2022-07-13T08:23:30","slug":"veterinary-technology-profitability","status":"publish","type":"post","link":"https:\/\/dinbeat.com\/en\/veterinary-technology-profitability\/","title":{"rendered":"Veterinary Technology and Profitability: How Are They Related?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">If you run your own<\/span> <a href=\"https:\/\/dinbeat.com\/en\/blog\/vet-tech-how-digital-transformation-is-impacting-modern-veterinary-clinics\/\" target=\"_blank\" rel=\"noopener\"><b>veterinary practice<\/b><\/a><span style=\"font-weight: 400;\">, you&#8217;ve probably wondered whether to buy new <\/span><b>technological equipment<\/b><span style=\"font-weight: 400;\">. You think it will help you improve your service, but will it be a smart decision? <\/span><b>How often do you need to renew your equipment?<\/b><span style=\"font-weight: 400;\"> And, above all, will it be profitable for the business? Before you buy new instruments for your clinic, learn how to evaluate whether it&#8217;s really right for your situation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this article we will discuss the <\/span><b>main factors<\/b><span style=\"font-weight: 400;\"> you need to consider to know if <\/span><b>new technologies will help you improve your veterinary practice&#8217;s profitability<\/b><span style=\"font-weight: 400;\">. This will help you avoid impulse purchases that put your numbers in jeopardy.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-35c3ff8f-cd1f-4c5d-9adf-061931c57a44\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-35c3ff8f-cd1f-4c5d-9adf-061931c57a44\" class=\"hs-cta-node hs-cta-35c3ff8f-cd1f-4c5d-9adf-061931c57a44\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/6092775\/35c3ff8f-cd1f-4c5d-9adf-061931c57a44\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"hs-cta-img-35c3ff8f-cd1f-4c5d-9adf-061931c57a44\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/6092775\/35c3ff8f-cd1f-4c5d-9adf-061931c57a44.png\" alt=\"Discover the key strategies to improving profitability, reducing costs and streamlining processesin a veterinary clinic. Click here to know how.\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(6092775, '35c3ff8f-cd1f-4c5d-9adf-061931c57a44', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code --><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">How Can We Know If an Investment in Technology Will Be Profitable?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Although buying new equipment or investing in new technology may seem optional, the reality is that it is increasingly common for veterinary clinics to have to renew their equipment frequently, as <\/span><b>technology advances in the sector.<\/b><span style=\"font-weight: 400;\"> This investment can help clinics stay ahead of the curve with the following benefits:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The<\/span><b> clinic\u2019s resources are up to date<\/b><span style=\"font-weight: 400;\">, which can increase quality of care and enhance reputation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The technology can improve the <\/span><b>clinic&#8217;s workflow <\/b><span style=\"font-weight: 400;\">and offer a more complete service to the client (while saving internal costs).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The new tools show more specific data, which<\/span><b> improves diagnoses<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is even the possibility of <\/span><b>being positioned as a specialised clinic <\/b><span style=\"font-weight: 400;\">in order to offer services to colleagues in the sector.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In other words, if you have a clinic and you are thinking of purchasing new technology, you have a good chance of <\/span><b>staying at the forefront of the industry<\/b><span style=\"font-weight: 400;\">. That&#8217;s great news! But before investing money, it&#8217;s worth stopping to think about whether it&#8217;s really worth it in your particular case.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Veterinary Technology and Profitability: What Should You Consider?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As mentioned, there are several factors that you should take into account when <\/span><b>deciding to make an investment<\/b><span style=\"font-weight: 400;\"> in new<\/span><b> technologies and equipment.<\/b><span style=\"font-weight: 400;\"> Let&#8217;s review the most important points you should take into account.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Demand &#8211; <\/b><span style=\"font-weight: 400;\">If you already have demand for this service, you can rest assured that you will get a<\/span><b> quicker return on your investment.<\/b><span style=\"font-weight: 400;\"> However, keep in mind that sometimes there is equipment that is <\/span><b>useful for your customers<\/b><span style=\"font-weight: 400;\"> that they may not request because they are not aware of its existence. For example, using a multiparametric harness could help improve their pet&#8217;s quality of life after surgery, even if they are not yet aware of this option.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Time spent on training &#8211; <\/b><span style=\"font-weight: 400;\">Most likely, in order to use the equipment,<\/span><b> the team will need training<\/b><span style=\"font-weight: 400;\">. Regardless of the price, you will need to consider this initial investment of hours.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Time saved in recovery &#8211; <\/b><span style=\"font-weight: 400;\">Most technological advances in clinics have a very clear advantage: they <\/span><b>save a lot of time<\/b><span style=\"font-weight: 400;\">. Therefore, beyond the economic aspect, you should make an<\/span><b> estimate of how much time it will help you save<\/b><span style=\"font-weight: 400;\">. To do so, you can ask the finance team to do a simulation of your particular case.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Your positioning &#8211; <\/b><span style=\"font-weight: 400;\">How do you want your practice to position itself in the future? Some investments may seem unprofitable in the short term, but they can help <\/span><b>differentiate you from the competition.<\/b><span style=\"font-weight: 400;\"> Keep in mind what your long-term goal is, so you know if it will fit with the business you are building.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-fdc5e544-a120-4f13-807e-053558a51c8b\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-fdc5e544-a120-4f13-807e-053558a51c8b\" class=\"hs-cta-node hs-cta-fdc5e544-a120-4f13-807e-053558a51c8b\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/6092775\/fdc5e544-a120-4f13-807e-053558a51c8b\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" id=\"hs-cta-img-fdc5e544-a120-4f13-807e-053558a51c8b\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/6092775\/fdc5e544-a120-4f13-807e-053558a51c8b.png\" alt=\"New call-to-action\" width=\"750\" height=\"119\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(6092775, 'fdc5e544-a120-4f13-807e-053558a51c8b', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code --><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Technology, a Great Opportunity in the Veterinary Field<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We are in a time of transition thanks to the<\/span><b> rise of new technologies<\/b><span style=\"font-weight: 400;\">. In fact, we are probably only seeing the t<\/span><b>ip of the iceberg <\/b><span style=\"font-weight: 400;\">of all the new developments to come such as the growth of telemedicine, the development of artificial intelligence in Big Data, the trend towards the use of <\/span><b>wireless technology in veterinary devices<\/b><span style=\"font-weight: 400;\">, etc.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are many options currently on the market, and it can be easy to fall into the temptation to get all of them, putting the economic health of your clinic at risk. Therefore, when deciding which technology to incorporate, we recommend that you<\/span><b> take into account the training, time, and money you will have to invest.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Do you want to<\/span><b> keep up to date with vet tech advances?<\/b><span style=\"font-weight: 400;\"> Subscribe to our newsletter! We will send you the latest news and trends in the industry, as well as tips on how to improve the profitability of your clinic. Subscribe today!<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-8a46af67-bd37-4ed8-94e5-645b9fb8ed80\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-8a46af67-bd37-4ed8-94e5-645b9fb8ed80\" class=\"hs-cta-node hs-cta-8a46af67-bd37-4ed8-94e5-645b9fb8ed80\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/6092775\/8a46af67-bd37-4ed8-94e5-645b9fb8ed80\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" id=\"hs-cta-img-8a46af67-bd37-4ed8-94e5-645b9fb8ed80\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/6092775\/8a46af67-bd37-4ed8-94e5-645b9fb8ed80.png\" alt=\"New call-to-action\" width=\"750\" height=\"393\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(6092775, '8a46af67-bd37-4ed8-94e5-645b9fb8ed80', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you run your own veterinary practice, you&#8217;ve probably wondered whether to buy new technological equipment. You think it will help you improve your service, but will it be a smart decision? How often do you need to renew your equipment? And, above all, will it be profitable for the business? Before you buy new [&hellip;]<\/p>\n","protected":false},"author":142,"featured_media":59403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[435],"tags":[],"class_list":["post-59402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dinbeat-en"],"_links":{"self":[{"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/posts\/59402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/users\/142"}],"replies":[{"embeddable":true,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/comments?post=59402"}],"version-history":[{"count":1,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/posts\/59402\/revisions"}],"predecessor-version":[{"id":59406,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/posts\/59402\/revisions\/59406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/media\/59403"}],"wp:attachment":[{"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/media?parent=59402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/categories?post=59402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dinbeat.com\/en\/wp-json\/wp\/v2\/tags?post=59402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}