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Hospital Management
| Question | Answer |
|---|---|
| what are the 3 types of businesses? | 1. service business 2. merchandising business 3. manufacturing business |
| what is a service business? | sells a service to the public, it does not make or sell a product |
| what is a merchandising business? | buys food and resells them at a higher price for profit |
| what is a manufacturing business? | buys raw materials, converts them into a new product, and sells these products to earn a profit |
| what is a petty cash fund | small quantity of cash (<$200) that is kept in the office for small expenditures |
| ____________+_____________= total petty cash | receipts, cash |
| what is a NSF cheque | Non-sufficient funds -a cheque that was not cashed when presented to the issuers bank because there were not sufficient funds in the issuers bank account to cover the amount on the cheque |
| what is a certified cheque | a cheque for which the bank takes the funds out of the issuers account in advance and puts them in a special account |
| is a certified cheque guaranteed | yes |
| what is a the service fee for a certified cheque | $10 |
| what is a post-dated cheque | a cheque that is dated for some time in the future when funds will be available |
| what is a stale-dated cheque | a cheque that has not been cashed within 6 months of issue and it will not be accepted |
| when a debit card is used by clinic what does it involve | a flat-fee cost to clinic |
| a credit card service is funded by | transaction fees and interest |
| what are daily cash receipts | the cash on hand by actual count a the end of the day should be equal to the net cash sales figure from all sales made |
| what are the 5 payment option for clients | 1. vet financing 2. PET (pet emergency treatment plan) 3. Farley Foundation/Waggle 4. Pet Insurance 5. Pet Care Plans through the clinic |
| what is a vet financing | pet card separate from clinic, loans or line of credit |
| what is PET | pet emergency treatment plan -money raised by staff to use at their discretion |
| what is the Farley Foundation/Waggle | foundations that support pet ownership, crowd funded |
| when is pet insurance best offered | when pets are young and healthy to avoid pre-existing conditions |
| statistics for pet insurance coverage in the UK, Sweden, and North America | UK=24% Sweden=45% North America=2% |
| What is a pet care plan overall | yearly pet costs are charged on monthly basis |
| what 5 things can be included in a pet care plan | 1. unlimited consultations with Vet 2. Routine vaccinations and deworming 3. Annual bloodwork to assist in the early detection of disease 4. screening for serious illness 5. optional plan to cover spay or neuter costs |
| what are the 14 types of personal banking | 1. Chequing 2. savings 3. money market 4. tax free savings account 5. loans 6. fixed and variable 7. line of credit 8. credit cards 9. mortgages 10. borrowing considerations 11. investments 12. GIC 13. mutual funds 14. Bugeting |
| complete a simple bank reconciliation | |
| what does GIC stand for | guaranteed investment certificates |
| Define Power of Attorney | when you give legal consent for another person to take care of your financial or medial affairs in the event you become mentally incapacitated |
| Define Executor | the person or company responsible for managing and dispersing the estate of a deceased person |
| Define: payroll | the part of the accounting process that deals with salaries, wages, and commissions paid to employees |
| Define: gross pay | amount of an employees earnings before any deductions are made from it |
| Define: salary | a fixed sum of money paid to an employee on a regular basis over a given period of time |
| Define: wage | payment to a worker on an hourly, daily, or weekly basis |
| Define: commission (profit sharing) | a percentage of the dollar value of sales made by the employee may be paid in addition to the basic salary |
| Define: Net pay | gross pay minus deductions |
| Define: Canada Pension Plan | employee contributions must be deducted from gross pay by the employer according to rate set by the government |
| Define: Employment Insurance | employees premiums deducted from gross pay according to government tables |
| Define: Income Tax | federal and provincial income tax deductions |
| Define: Health Care Insurance | paid by employer |
| 3 things income tax deduction is based on | 1. the amount of the employees taxable earnings 2. employee contribution determined from revenue Canada 3. NO employer contribution |
| what is the role of marketing in vet med | is the bridge between the practice of vet med and the business of vet med |
| 3 methods of researching your client needs | 1. hire market research firm 2. do your own surveys 3. computer searches |
| 5 P's of Marketing | 1. Product 2. Place 3. Promotion 4. Price 5. people |
| 7 CVO guidelines for veterinary advertising | 1. truth ,accurate, and factual 2. no testimonials, deceptive, guaranteed success 3. protect client privacy 4. not use the status of vet to endorse or promote 5. vet not contact people in need of vet service 6. fees 7. proffesional, firm, content |
| Client in the context of advertising means: | someone who uses the professional services of a member regularly and with reasonable frequency |
| 5 external methods of advertising | 1. website 2. social media 3. sign on exterior of clinic 4. convenient parking 5. practice vehicle 6. the manner in which the telephone is answered |
| 5 methods for internal NEW clients advertising | 1. puppy and kitten kit 2. brochures/newsletters 3. gifts with clinic logos 4. new client thank you notes 5. tech hold animals for injections and treatments |
| 5 methods for internal EXISTING clients advertising | 1. reminder notes 2. bulletin board 3. call backs to medical and surgical cases 4. business cards 5. 1st year bday cards for puppy and kittens |
| what is the best advertising!!! | client word of mouth |
| 5 steps in making your marketing plan | 1. determine a need that clients have 2. decide on image you want to convey 3. choose the methods you believe will produce desired result 4. put it in writing 5. don't be afraid to experiment! |
| what are my 2 mortgage choices? | Amortization: 5 – 25 years Term: 6 months to 10 years |
| what is GDS | GDS - Shelter payment divided by gross income (principal, interest, property taxes and heat) |
| whats if TDS | TDS – Shelter payment plus all other monthly debt obligations (ie. Credit cards, student loans, car loans etc.) |
| 10 steps in responding to negative feedback on social media | 1. pre-emptive preparedness 2. categorize the complaint source 3. take a breath and think 4. listen 5. determine validity 6. fight the urge to be ashamed 7. public response 8. private response 9. moving on 10. what comes next |
| 4 types of complaint sources | 1. irrationals = don't even go there 2. trolls = the bullies of the world 3. critics = perhaps harsh but good points made 4. clients = who we really want to engage with |
| 3 goals of marketing | 1. meets a need 2. solves a problem 3. accomplishes a goal |
| challenges of marketing services that you don't usually have with products | 1. human-animal bond 2. intangibility: service cannot be measured 3. inseparability: service cannot be separated from provider 4. variability: interpretation varies according to the provider 5. perishability= services cannot be stored |
| what is implicit bias | a negative attitude or judgement based on stereotypes, gender, etc but it is unconsciously done |
| what is a target market | direct your advertising towards a specific audience |
| why is a target market important | target marketing allows you to focus your marketing dollars and veterinary healthcare message on a specific market that is more likely to use your services than other target markets. |
| features vs benefits | features are the attributes of your product/service while benefits are what the clients will receive from your product/service |
| define: demographics | statistical data relating to the population and particular groups within it. |
| 5 examples of demographics | 1. age 2. income 3. education 4. home ownership 5. religion |
| define: psychographics | "market research or statistics classifying population groups according to psychological variables" |
| 5 examples of psychographics | 1. lifestyle 2. needs 3. motives 4. values 5. culture |
| 3 reasons clients are important asset to clinics | 1. source of income 2. source of referral 3. reason for being |
| The Five C's of client needs | 1. compassion 2. consistency 3. competence 4. convenience 5. courtesy |
| 5 appropriate verbal communication techniques to use with clients | 1. create good atmosphere for communication 2. repetition 3. listen to client and for feedback 4. reinforce the information you are trying to convey 5. assess what the client has heard |
| 4 classes of emergencies | 1. Critical: within secs to mins (resp arrest) 2. Urgent: within min to an hour (blocked cat) 3. Pressing: within several hours (wound) 4. not pressing: not an emergency (ear infection) |
| 3 strategies for handing emergencies | 1. be empathetic 2. remain calm 3. ask questions to assess needs and gather information |
| what is Telemedicine | medical advice and treatment of animals based on the remote diagnosis of disease and injury over the phone and no physical examination was performed |
| what is Telehealth | term that encompasses all uses of technology geared to remotely deliver health information, education or care. It is virtual medicine, health and education services. |
| 3 pre-made platforms for telehealth | Guardian Vets Treatwell VetNOW |
| 2 ways to run telehealth? | 1. through a pre-made platform by the vet 2. home grown types such as zoom |
| 5 reasons to use telehealth? | 1. surgery re-checks 2. nutrition 3. follow ups 4. weight loss support 5. behavioural consults |
Created by:
jscott41
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