Latest News September 2023

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http://www.mytaxvet.com.au

There is a 60% chance that you need to get some clients back in the door? Join us 6 September midday!

We have been monitoring client attrition for many years. This is the percentage of clients who visited you 2 years ago and that didn’t come back to see you this year. It was relatively stable at 25% average – this still seems high as it means that 1 in 4 clients that you saw last year you won’t see this year. However the average has now increased to 30%. We were astounded when we were putting together the KPIs for 2023 to see such a large increase. This means that nearly 1 in 3 clients won’t be back to visit you, and that the average client only lasts 3 years with you! This decreases the lifetime client value at veterinary practices by 20%-25% because the time with your business is cut down from 4 years to 3 years.

We were concerned that this was starting to happen many months ago and therefore invested time and money to develop a managed service using profitdiagnostix software to help you to re-activate lost clients using text messages. This has now been in use for a number of clients and we are seeing very positive results. Text messaging is the most reliable way for you to contact these clients and encourage them to visit you again. It also encourages 2 way dialogue and you can get some very interesting feedback from some clients.

If you think this is a potential problem for you (and based on what we are seeing, it will be an issue for about 60% of practices) then join us for our masterclass at midday on the 6th September.

https://us02web.zoom.us/webinar/register/WN_PFQObUkZS9mTiy4nPiuL7g

The best time to act is NOW, don’t wait until it’s too late! We feel very strongly that in the current economic environment, managing your client attrition will be one of the key things you can do to ensure adequate workload and profitability over the next 3-4 years.

In this masterclass we will take you through our industry health tracker, client attrition and a quick way to reactivate disengaged clients.

To register for this event on the 6th September click here:

https://us02web.zoom.us/webinar/register/WN_PFQObUkZS9mTiy4nPiuL7g

How secure is your mobile phone?

A word of warning that what may see impossible is actually possible, do NOT allow anyone access to your mobile phone even if it breaks. A client had their iphone repaired a few months ago which meant that they had to leave it at a repair shop. Now their tax return has been lodged by somebody who received a $9k refund, when they try and change passwords the passwords immediately get reset and any 2 factor authentication on the phone has been accessed.

To duplicate or clone an iphone in particular takes a high level of sophistication. It means the SIM card has to be duplicated and any unique ID on the device needs to be copied. We believe that one of the only ways that this can be done is if someone has hands on access to your phone with its password for some time.

Your mobile phone these days holds the key to your entire life. All your Medicare logins, tax office logins, 2 factor authentication apps, text messages for 2 factor authentication, Facebook profile and emails. Losing this is worse than losing access to a computer or a wallet full of credit cards.

As implausible as this may sound it is true, so don’t let anyone have your phone for any reason! Think very carefully before leaving your phone at a repair shop – it may be better just to scrap the damaged phone and get a new one.

Don’t forget that xero fees are increasing in September

If we pay for your xero subscription we will automatically increase your fees to cover this increase directly from xero. It’s a reminder for you to assess your own prices if you haven’t done this in the last 3 months.

Dog Tales! – Its time to put some lube in those joints

Being a tripod dog with multiple health issues has taught me a lot of things, but in particular I learned that you have to line up some suckers to look after you! When my Mom and Dad to be showed up at the foster home I realised it was now or never and time to line these fools up. And I really lucked out, they also ended up being vets (sort of anyway). 

Not only was I old (and obviously wise), I was also missing a leg and had to hide my other problems away so that they would take me home with them. I ended up having chronic pancreatitis, renal failure, corneal degeneration and deafness as well. No wonder they ended up calling me ‘Lucky’. 

One of the lessons to be learned here is to always do a full clinical examination not only in the consult room but even if you are adopting a pet. But the other exciting thing is because I am getting really stiff on my 3 legs, these patsies are going cough up for treatment for that condition also. With all the new exciting injectable arthritis drugs available now for dogs and cats, it is certainly a great time for us old pets and pet owners. In the old days my renal failure and pancreatitis would have precluded me getting any relief, but now at least there are options.

I hope all of you out there are enthusiastically recommending these treatments, being injectable, it will be difficult for pet owners to get them from anyone else but vets like you. Mom and Dad are certainly going to be benchmarking these treatments over the next few years to see what average and top performing clinics are achieving.

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