Numbers Don’t Lie

The True Cost of Delaying Software Change in Veterinary Clinics

Embarking on a journey to switch software can be a daunting prospect, especially when a system has been ingrained in the daily operations of your veterinary clinic for many years. The question often arises: why fix something that’s not broken? Here we’ll explore the true cost of waiting to make the switch. Surprisingly, waiting might be costing your clinic an average of $500K-$750K in potential revenue for every year that passes. Let’s dive-in to the reasons behind this and uncover the untapped financial benefits awaiting clinics willing to embrace change.

1. Reducing No-Shows: Capturing $130K

No-shows can be a significant drain on a clinic’s revenue. NectarVet tackles this issue head-on by implementing a confirmation text system that not only reminds clients of their appointments but also tracks their responses to automatically update the clinic’s calendar. By managing digital client forms and offering an optional deposit collection system for online scheduling, NectarVet helps reduce the no-show rate. AAHA estimates that no-show rates are about 11%, meaning that for an average clinic this could translate to capturing $130K in additional revenue.

2. Missed Charges: Capturing $120K

Missed charges, especially in lab revenue, can lead to substantial losses. NectarVet addresses this issue by auto-generating invoices and estimates from treatment plans, ensuring that no charges are overlooked. AAHA estimates that around 17% of lab revenue and 5-15% of total revenue is lost from missed charges, meaning this could result in capturing $120K in revenue for an average 2-vet clinic.

3. Revenue Uplift from Efficiency Gains: $240-$480K

Improving efficiency is a surefire way to increase revenue. NectarVet achieves this by offering a user-friendly, simplified interface and highly automated workflows, including AI-assisted SOAP notes. With around 20-40% of a vet’s time being spent on SOAP notes and 10 minutes per appointment being spent on basic intake questions, this type of automation results in a revenue uplift of $240-$480K.

What does it cost to achieve this revenue boost? Contrary to expectations, the cost of a NectarVet ecosystem is actually lower than what most clinics are currently paying for their softwares.

Cost-Effective Solution: Saving $19,800 Annually in Tech costs

If an average 2-vet clinic is currently spending about $450/month on client communication software, $200/month on workflow software, and $1,400/month on IT services and server maintenance, a NectarVet subscription will actually cost $19,800 less annually.

Additional anecdotal benefits of Nectar, heard from our customers:

  • Reduced Training Time: Training time for a new hire to master a clinic’s workflows reduces from an average of 3 weeks down to 2-3 days with NectarVet.
  • Streamlined Processes: The number of “clicks” to complete one end-to-end appointment decreases from an average of 530 clicks down to 70 clicks, making the workflow more efficient.
  • Improved Work-Life Balance: Staff members can go home on time 50% more often, contributing to a healthier work-life balance.

Ready to witness the positive changes Nectar can bring to your veterinary clinic? Let’s make it happen!

Book a consultation today, and together, let’s dive into a discussion about your clinic’s workflows and how Nectar can unlock better efficiencies for you. You can be up and running with all your precious data migrated securely, in just 4-6 weeks! Your furry patients and your team will thank you! 🐾✨