Veterinary Practice Management – Key Vocabulary

These flashcards cover the essential vocabulary and concepts from the lecture on veterinary practice management, including managerial roles, planning, HR, marketing, finance, operations, safety, leadership styles, and professional certification.

Management

The act or art of conducting or supervising something, such as a veterinary practice or other business.

Planning (Management Role)

Creating strategies and tactics to meet practice goals, including strategic and operational plans.

Human Resources (Management Role)

All activities related to hiring, compensating, training, and retaining staff in a veterinary practice.

Marketing (Management Role)

Efforts to obtain and retain clients through internal (current clients) and external (new clients) initiatives.

Financial Management (Role)

Oversight of accounting, budgeting, pricing, and risk management to ensure legal compliance and profitability.

Operations (Role)

Systems, policies, and procedures that make the practice run, such as scheduling and inventory control.

Facility and Equipment (Role)

Maintaining safe premises and equipment, addressing OSHA standards, and managing supplies and drugs.

Strategic Planning

Long-term, big-picture goal setting for the practice, usually reviewed annually.

Operational Planning

Day-to-day or short-term planning that supports the strategic plan.

Business Plan

A written document that outlines the practice’s goals, strategies, market analysis, and financial projections.

Budgeting

Estimating revenue and expenses for a defined period to guide financial decisions.

Key Metric Tracking

Monthly monitoring of critical numbers (e.g., revenue, expenses, client visits) to evaluate performance.

Hiring

Recruiting and selecting qualified candidates for open positions in the practice.

Compensation

The wages, salaries, and benefits provided to employees for their work.

Training and Orientation

Introducing new employees to their roles and providing ongoing education to build skills.

Employee Management and Retention

Supervising staff performance and fostering a workplace that keeps employees long-term.

Employee Stress Management

Recognizing and addressing workplace stressors to maintain staff well-being.

Internal Marketing

Promotional efforts targeted at current clients to increase loyalty and compliance.

External Marketing

Outreach aimed at attracting new clients to the veterinary hospital.

Accounting

Recording, classifying, and summarizing financial transactions of the practice.

Pricing

Setting fees for services and products to cover costs and generate profit.

Risk Management

Identifying and controlling potential financial or legal losses in the practice.

Compliance with Laws and Regulations

Ensuring the practice follows federal, state, and local rules governing veterinary care and business operations.

Client and Patient Scheduling

Coordinating appointment times to balance patient flow and staff workload.

Check-In and Check-Out

Processes for admitting and discharging patients, including paperwork and payments.

Inventory Control

Tracking and replenishing supplies, drugs, and food to avoid shortages and overstocking.

Patient Flow

Movement of patients through the hospital to maximize efficiency and minimize wait times.

OSHA (Occupational Safety and Health Administration)

U.S. agency that sets and enforces workplace safety standards, including veterinary facilities.

Safety Management

Creating policies and training to prevent workplace injuries and hazards.

Safety Data Sheet (SDS)

Document that provides information on handling, hazards, and first aid for chemicals.

Coaching Leadership Style

Manager mentors staff by assessing strengths and weaknesses and fostering growth.

Democratic Leadership Style

Leader seeks team input before making decisions.

Autocratic Leadership Style

Leader makes decisions without consulting the team.

Laissez-Faire Leadership Style

Hands-off approach where the leader provides minimal direction.

Servant Leadership Style

Leader prioritizes helping and supporting others above personal authority.

VHMA (Veterinary Hospital Managers Association)

Professional organization that supports veterinary practice managers and offers the CVPM credential.

CVPM (Certified Veterinary Practice Manager)

Credential awarded to managers who meet VHMA criteria: 3 years’ management experience, 18 college credits in management, 48 hours of management CE, and 4 recommendation letters.