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Veterinarians - ProfitSolver, set fees for any business

1. FVRCP Lepto Other hi frequency vaccines Outside Service Labs Antech Idexx Cost UA Fecal Heartworm Superchem CBC T4 GHP Client Information Input Forms Practice profile 2011 e Please let us know any specific information about your practice that would help us during your consultation example plans to retire to sell buy specialties problems etc PRACTICE PROFILE Practice Name Date Practice How long have you had your practice Owner s name s Do you own multiple practices Yes No If yes how many If multiple practices please state which owners work in which locations If multiple practices are you doing your implementation on one or all Please specify why Does your practice have any specialties we need to know about Yes No If Yes please explain Do you have plans to sell buy or retire soon Yes No If Yes please explain What practice management software do you use Employees How many doctors at your practice How many employees in total When was the last time you implemented salary increases Do you foresee staff salary increases this year fe ceva T0 7 18 Do the owners on the payroll receive a salary Yes No Do you track production by doctor Yes No If yes please provide production numbers via Do the owners salaries relate to production or include distributions from profit or both Do your emp
2. Profit amp Loss Statement Our patent en 507 S mu 5 O Patent US 7 742 957 B2 E b ROS Profit centers Total LJ Labor Inventory LJ Equipment Revenue 500 000 00 100 00 380 000 00 100 00 120 000 00 100 00 0 00 0 00 COGS 120 000 00 24 00 120 000 00 100 00 0 00 0 00 Gross Margin 380 000 00 76 00 380 000 00 100 00 0 00 0 00 0 00 0 00 Billable Labor 164 290 00 32 86 164 290 00 43 23 Non billable Labor 85 030 00 17 01 85 030 00 22 38 Overhead 110 000 00 22 00 110 000 00 28 95 Profit 20 680 00 414 20 680 00 5 44 0 00 0 00 0 00 0 00 Profit Revenue 4 14 0 00 0 00 Desired labor profit 15 00 2011 ProfitSolver All rights reserved 1 0 0 23 SNAPSHOT VII Equipment The Equipment Area profitsolver profitsolver 4 1_smallAnimal 2012 paaeny Reports Helo the ultimate diagnostic software for your business Employees Equipment Inventory Services Equipment Category Equipment anesthesia Blood Z Dental General Radiology Z Surgical Ultrasound Category Panel General Maint Oper supply ROI Category Defaults Panel Equipment 1 35 6014 Cast Cutter Spreader CBC Lasercyte CBC Machine LE Centrifuge large Clippers Cold Laser Digital Scale Doppler Monitor Dremel Dryer EKG Machine Endoscope Esophageal Stethescope Fleece Freezer Names Panel 2011 ProfitSolver All rights reserved 1 0 0 2
3. Equipment List Equipment Name Replacement Maint Supply Yearly Yearly Maint Supply Total n P Cost Use Cost Use Equipment ROI Profit Charge Use Anesthesia Auri Ear Flush 1 17 2 53 8 75 19 00 4 07 Blood Auto Clave 2 98 0 55 62 05 11 40 3 88 Dental Aut ti utomatic Z General Paradis 1 58 1 42 66 67 60 00 3 29 Z Radiology Biopsy Needle 3 25 0 00 1 30 0 00 3 58 Z Surgical Cage 1 33 0 00 40 00 0 00 1 47 Z Ultrasound Cage Dryer 1 91 0 00 22 95 0 00 2 10 Capnograph 2 16 0 00 45 00 0 00 2 38 Cast Cutter ected 1 13 0 00 1 70 0 00 1 25 CBC Machine 2 68 2 10 107 07 84 00 5 25 Centrifuge 0 24 0 25 11 70 12 00 0 54 Centrifuge large 0 65 0 25 31 20 12 00 0 99 Clippers 0 12 0 21 6 37 10 76 0 36 Cold Laser 28 26 0 00 98 90 0 00 31 08 Digital Scale 0 15 0 00 7 57 0 00 0 17 profitsolver Inventory Outside Service List Report You can print out the Inv OS by each category or all together To print out all Inv OS at once click on the Inv folder top most folder Then click on menu bar File Print To print out by category at once click on any Category folder Then click on menu bar File Print s List Profit amp Equipment List Inv OS Lis je List Settings Employ Equipment Inv OS List B Inventory Name Cost Per Unit Charge Per Unit Part ID Stock Code Antibiotics Injectables 12 cc Syringe 0 14 0 28 Bandages Splints C
4. Hospitalization Level 2 Dental Canine Grade 1 Dental Extraction Simple Deciduous Dental Extraction 2 root Dental Extraction 3 root Bath Medium Dog 25 50lbs Boarding Small Dog Boarding Medium Dog Boarding Large Dog FVRCP Vaccine FELV Vaccine Feline Purevax Bordatella Intra Inj DHPP DHLPP Lepto K9 Rabies Client Information Input Forms Inventory Purchase Price Inventory Purchase Price 2011 e Please fill in this very short list of the inventory items that correspond to the key services we will review with you Please let us know your purchase price Only if you send work to be done outside do you need to let us know the invoice cost Remember if you add services to the services list add the corresponding inventory purchase price to this sheet Remember to add the purchase price of all your vaccines Inventory Purchase Price Units per Cost Unit Cost Cost per Unit Drugs Morphine Torp Domitor DexDomitor Ketamine Valium Telazole Lab Tests 3DX 4DX Snap test Heska HW GHP Chem 17 Chem 10 profit olver Organ Profile Pre Anesthetic Thyroid FELV FIV Parvovirus Vaccines K9 Rabies Feline Purevax Bordatella Intra inj DHLPP DHPP FELV
5. Technicians 7 50 Minutes 10 99 12 94 A 15 00 Remove i EA T lt 1 114 gt Quantity Units x E Charge 1 00 Use 0 30 0 35 A 15 00 A 15 00 Remove Inventory n EA T lt 1 3 3 gt Fecal Cylinder 4 00 Unit 0 05 0 06 A 15 00 Remove Float Solution 100 Unit 0 25 0 29 A 15 00 Remove Microscope cover Remove slides 1 00 Unit 0 05 0 06 A 1500 Re Service i Y Choose a labor path for your company Only use one way to enter labor do not mix both the category average labor rate and employees labor rates You must choose one way or the other for Profit Solver to be mathematically correct and billable time presented correctly Creating and Pricing a Service Adding Labor There are 2 ways to account for billable labor in Profit Solver Either you are a company that can specifically track every minute all billable employee are working on a job or service or you are a company that cannot specifically track who is working on a job or service Example Medical Dentistry or Veterinary hospitals may have multiple technicians working on all services but cannot track the time of the billable employee to the service You know it gets done by a tech but do not track that specific tech to the specific job If you are a company that can specifically track all billable employees working on a job or service use that employee s own labor rate If you are a company that cannot specifically identify which employee is working on a job or serv
6. Press the save button above the service name to save your editing Entering Sub Services into a service There are 2 ways to add Sub Service to a service e Click the add button next to the Sub Service reference e Areference selector box will open up e Click the Service category the service is in e Click on the Service you want to enter e Click the add button bottom left corner Choose Item B Services yd B9 Anesthesia ELEIETS Blood Chem Organ Profile Bath Grooming Blood Chem Pre Anesthetic P Soaring Blood Chem Pre Surgical 59 Dental Blood Draw 9 Euthanasia Blood Glucose Curve 6 Blood Glucose Single Test Blood HCT and TP 9 Examinations 9 Hospitalization cBc injections CBC Lasercyte Lab in House Chem 12 misc CPL Snap Test Culture Sensitivity Pore EC8iSTAT 9 Prof Services Clinical ERD Prof Services Hospital Fecal Float 9 Radiology Cardiology Fecal Smear Fecal Smear and Stain iarsi FELV FIV HW Test Specialists Surgeon FELV FIV Test 9 Surgery General FELV Test 9 Ultrasound in House Heartworm Test K9 4DX 9 vaccinations Canine OIS Cocci Ehrlichia 49 Vaccinations Feline O S Fecal 9 vetscope O S GHP Chem 17 or 25 Add Cancel or e Type the 1st character of the Service name GHP General Health Profile e Areference selector box will open up e Click on the Service name e The Service name will appear in the Service field e Clic
7. US Taxes Taxes are automatically calculated on the percentages entered for cutoff and percents All cutoff and percents can be edited to suit the area in which you live All countries using a flat tax A flat tax can be applied in the Medicare Vat field as this field is based on total wages Delete out all other percentages SUTA FUTA etc and input the flat rate tax or vat tax in the Medicare VAT field o Inthe Benefits box all amounts entered should be annual Click on the edit button and then the add button to add additional costs associated with that employee incurred by the employer Enter in all benefits associated with that employee airfare meals hotel cell phone etc Click the Save button to save the benefits 6 To View or Change an Employee s data Click on the Employee Module In the Category Panel click on the appropriate category of employee In the Employee Name Panel click on the employee s name View data or make modifications to existing data If Changing Data Press Save Bottom at top of Employee Detail Area O O 0 0 7 To Delete an Employee o Click on the Employee Module In the Category Panel click on the appropriate category of employee profitsolver o o Inthe Employee Name Panel click on the employee s name o Click on Remove button in the Member Panel The Employee Calculation Panel will show the values for e Total Wages Total Benefits Total Taxes Total Yearly Employee C
8. Employees Equipment Inventory Services Employee Category Employee Names Employee Details Employee cm sae leans Detail Panel Name Tech Cathy Employees 4 1 1 1 gt Total Wages 29 543 00 Total Employee Cost 36 221 74 Calc amp Assistants Tech Cathy Total Benefits 4 175 00 Per Minute Cost 0 32 Area l Doctors Total Taxes 2 503 74 Desired Charge Min 1 72 amp Front Office amp Kennel Wages Employer Taxes a Mansgem n Year Weeks 52 SUTA Cutoff 13 500 00 amp i Names Week Hours 40 SUTA 96 1 80 Panel Production 96 45 00 FUTA Cutoff 7 000 00 FUTA 96 0 01 Category Pay Amount 14 10 Panel Pay Period Hourly EA Medicare VAT 1 45 SS Cutoff 100 000 00 Yearly Bonus 215 00 ss 6 20 Technicians Yr Overtime hrs 0 Category Production 96 45 Avg Labor Rate 172 hiec 3000 AS P odd Units Minutes PTO Weeks 5 Input Data Benefits Area Edit items Category Dues SA 75 00 Defaults Panel Education 1 000 00 Insurance 0 00 Medical Dental 2 400 00 Pension 0 00 Workers Comp 700 00 Employee Input Data Areas 1 Employee Category Panel 2 Employee Category Defaults Panel 3 Employee Names Panel 4 Employee Detail Panel a Calculation Area b Input Data Area To Add an Employee Category e Click on the employee module e Click on the Employee top most folder in the category panel e Click the add button in the category panel e Type in Name in Employee
9. In the printer dialog box Click on the properties tab In the orientation dialog box click on landscape File Menu Save To save data while working in the program click on the save button at the top of each input detail area Import Export Feature csv standard The import export feature applies to equipment inventory and services Information must be stored in a CSV format comma separated value The fields in each module can be pulled from a CSV spreadsheet and into profit solver Click on file import export for the import export dialog box Select the file to import by clicking on the browse button Select the module you would like to put the data in Click on import or export to transfer data into or out of Profit Solver Search Feature in each input area there is a blank field to activate the search Type in 1 3 characters in the field to activate search Remember to remove the search criteria input in the field to see all items again Employees Equipment Inventory Services Inventory Category Inventory EX type to search Q ki Inventory 1 21 2 94 Antibiotics Injectables Syringe Bandages Splints Casts Syringe Needle amp Consumables Lab Tests In House Misc Outside Services Sedatives Tranquilizers Profit Solver Cloud Version 5 0 Notes and Addenda When adding an industry s data file we have included values for Equipment Inventory and Services as indicated by our res
10. cum Period Occurrences 15 00 Total Charge 102 25 Employee References EO New Name Qty Units Charge Profit96 Erics ne Ces ICE due Doctors 5 00minutes 27 88 15 001 Del Technicians 15 00minutes 34 16 15 00t Assistants 15 00minutes 21 51 15 001 l New Remove Sort New Remove Sort EP Services Barium Administration Equipment References EB Anesthesia Electrocardiogram New Name Qty Units Charge M amp S ROI D Bath Grooming GI Barium Series 6 films X Ray Processor 1 00Use 10 80 10 001 10 001 C Boarding Radiology Consult Del 5 Dental Upper GI 6 films D Euthanasia X Ray 2 Views 1 Plate n X Ray 1 view Interp D Ereminatone X Ray 1 view digital Interp Inventory References Hospitalization P ER interp New Name Qty Units Charge Mkup D Lab in House X Ray 2 views digital Interp Radiograph Film 14x17 2 00Unit 5 93 100 001 C misc X Ray Add l Views Del 3 Prof Services Clinical X Ray Consult Specialist 3 Prof Services Hospital X Ray Dental Canine 6 films Dn Radiology Cardiology iind lae a hs views l ental Digital Feline 4 views 3 Spays Neuters teet Service References 3 Specialists Surgeon pum Ene TENE Name Qty Charge Sp X Ray Interp in Clinic New g D Surgery General 3 ultrasound in House Del D Vaccinations Feline vaccinations Canine In any service business labor is the biggest expense Understanding how to cost out billable labor is critical when setting the total labor perce
11. is set to O A global markup can be set by highlighting the equipment category and applying a ROI profit and or a maintenance and supply profit Each subcategory may have its own ROI and M amp S profit A value entered into a subcategory will override the top most level default A value entered at the member level will override the category level In this way you can apply a global markup to all your equipment override that markup for any specific category and then override for any specific member Both the member and the category will inherit the value from the top most level unless they override that value Equipment ROI Profit and Maintenance amp Supply Profit Hierarchy e Once the inherited value has been overridden at the member or the category level to get back to the inherited state Click on the inherited value press the delete key to delete the current inherited value and press the tab key Employees Equipment Inventory Equipment Category ENTREZ Equipment Z anesthesia 7 Blood 7 Dental 7 General 7 Radiology 4 Surgical Z utt d i ium Member inherits ROI 96 unless over ridden Up arrow indicates inheritance General Maint Oper supply 15 ROI 15 Default ROI Default M amp S 96 Equipment Details Name Centrifuge Replacement Cost Use Maint Supply Cost Use Yearly Equipment ROI Yearly Maint Supply Profit Total Charge Use Purchase Price Life Span Units Units Used per Year Equipm
12. pc Mac Ipad smartphone or any combination etc Your file will always be there for you with the data saved in one central easily accessible location Being on the cloud allows Profit Solver to continually provide upgrades and improvements seamlessly without the hassles of sending you upgrades you need to install yourselves The cloud offers us the opportunity to provide even more helpful and expanded demos training videos and examples because the space is limitless Being on the cloud means your data is safe and secure from downtime your computer malfunctions and or crashes and provides for automatic and perpetual disaster recovery 1 The complete costs associated with each employee both billable and non billable Please be sure to consider ALL costs associated with each employee Things you will need to prepare to get started Here are some costs to consider and include Healthcare Dental Pensions IRA Dues Memberships Education Convention Insurance Workers Comp Uniforms Employee Discounts Travel Airfare Cars Meals Vehicle reimbursement Taxes FICA etc Training Other company paid expenses 2 Profit amp Loss Statement total sales and a breakdown of expenses for the last 12 months For example P amp L Income Revenues 4 115 667 01 COGS Drug amp Hosp 987 153 38 Lab Fees 116 024 86 Disposal 37 876 69 Grooming Supp 2 984 42 Total 1 144 039 35 27 80 GM 2 971
13. 0 00 2011 ProfitSolver All rights reserved 1 0 0 23 SNAPSHOT o Inthe Employee Detail Area enter the employee s name in the Name field Tab to next Field o Inthe Wks Yr box enter the total number of weeks the employee is hired for during the year Note Do not take out time for vacation holiday sick personal that will go in the PTO field Tab to next Field o In the Hrs Week box enter the number of total work hours per week Tab to next Field o Inthe Pay Period box select either Hourly or Salary Tab to next Field o The production 96 is described below as there is a hierarchy Tab to next Field o Inthe Pay Amount box For hourly employees enter the amount per hour For Salaried employees enter the Yearly Wage Tab to next Field o Enter Bonus Yearly if applicable Tab to next Field o Enter the yearly overtime hours if applicable Tab to next Field o Enter the yearly overtime value if applicable Tab to next Field o Enter the PTO Paid Time Off The calculations for determining how to charge out labor must be during the time the employee is billable Example If you pay an employee a salary or wage for 52 weeks but the employee gets 2 weeks vacation holiday time 10 days fall on weekdays sick and personal time enter 52 in the wks worked per year and enter 5 in the PTO field to bill them out in the 47 weeks they are at work Tab to next Field o Employer side of Taxes US and Other Countries
14. 1 292 20 2 553 65 1 276 82 1 276 82 100 00 Float Solution 1 869 00 934 50 467 25 467 25 100 00 Gloves 912 00 1 041 96 520 98 520 98 100 00 3cc Syringe w needle 3 332 00 639 74 319 87 319 87 100 00 Fecal Cylinder 1 869 00 186 90 93 45 93 45 100 00 Food 2 131 00 2 131 00 1 065 50 1 065 50 100 00 Gauze Scrub 339 00 133 91 66 95 66 95 100 00 Exam Gloves 485 00 38 32 19 16 19 16 100 00 Syringe Needle 3 327 00 998 10 499 05 499 05 100 00 Prophypaste Polish 204 00 424 32 212 16 212 16 100 00 IV Fluids LRS 1L 17 40 66 82 33 41 33 41 100 00 IV Catheter 339 00 1 681 44 840 72 840 72 100 00 Macrodrip Line 87 00 346 37 173 18 173 18 100 00 Microscope cover slides 2 742 00 285 63 142 81 142 81 100 00 Cleaning Supplies 2 131 00 2 131 00 1 065 50 1 065 50 100 00 Lense Paper Kim Wipes 267 00 4 62 2 31 2 31 100 00 Dip Quick Stain 562 00 967 76 483 88 483 88 100 00 Male Adapter Plug 339 00 54 24 27 12 27 12 100 00 Gauze Sponges 3x3 501 00 24 05 12 02 12 02 100 00 Pre Surgical Panel 267 00 14 305 86 7 152 93 7 152 93 100 00 Urine Dip Sticks 311 00 279 90 139 95 139 95 100 00 Glucose Strips 100 00 45 80 22 90 22 90 100 00 Heartworm 4DX 2 125 00 55 250 00 27 625 00 27 625 00 100 00 profitsolver The Services Report When you input how many times each service was invoiced out Profit Solver will show what you charged for each service versus the ideal charge set up in each module It will sho
15. Boarding Canine 1 612 00 1 612 00 37 849 51 26 00 23 48 2 52 4 062 49 Bordatella IN Vaccine 93 00 93 00 2 065 27 22 00 22 21 0 21 19 27 Bordatella Vaccine 737 00 737 00 14 901 53 22 00 20 22 1 78 1 312 47 Catheter IV 339 00 339 00 14 661 71 45 00 43 25 1 75 593 29 Dental Canine Grade 1 204 00 204 00 8 124 69 42 00 39 83 2 17 443 31 DHLPP Vaccine 287 00 287 00 6 499 74 22 00 22 65 0 65 185 74 Dispensing Fee 18 000 00 18 000 00 228 729 09 9 00 12 71 3 71 66 729 09 Disp Fee Store Product 900 00 900 00 7 311 87 2 00 8 12 6 12 5 511 87 cb 485 00 485 00 14 176 60 20 00 29 23 9 23 4 476 60 Extraction Simple 900 00 900 00 4 187 59 12 00 4 65 7 35 6 612 41 Fecal Float 1 869 00 1 869 00 33 655 44 22 00 18 01 3 99 7 462 56 Feline Rabies Vaccine 7 00 7 00 189 97 27 81 27 14 0 67 4 70 FELV and FIV Test 254 00 254 00 12 352 39 45 00 48 63 3 63 922 39 Fluid Admin SQ 100 ml 87 00 87 00 1 857 57 17 45 21 35 3 90 339 42 FVRCP Vaccination 278 00 278 00 7 800 45 22 00 28 06 6 06 1 684 45 Hazardous Waste Fee 20 000 00 20 000 00 4 000 00 2 00 0 20 1 80 36 000 00 Heartworm Test Canine 2 125 00 2 125 00 104 580 48 52 00 49 21 2 79 5 919 52 Hospital Canine 519 00 519 00 37 421 38 52 00 72 10 20 10 10 433 38 Iso Induction 30 min 114 00 114 00 11 085 15 150 00 97 24 52 76 6 014 85 profitsolver Employee List Report You can print out the employee by each
16. Category Default Panel e Ideally you wish to create a different category for each type of employee creating either individual labor rates or labor pools to charge labor from Multiple employee levels may be used e Press Tab Key Employee Category Employee Category For oon Click on amp Employees 8 Eimploy es Employee Folder Assistants Assistants Doctors Doctors d Front office Front Office Click on Blue Add Button amp kennel kennel above Employee Folder management amp management Technicians Technicians Technicians Category Production 96 50 Type in Name Category Production 96 45 Avg Labor Rate 0 00 Avg Labor Rate 1 72 Units Minutes Press Tab Units Minutes e Profit Solver will create new categories under any category folder highlighted as a subcategory e Category rule of thumb You can create subcategories only when there is no data in the parent category The top most Category folder Employees is also where you can set a production applicable to all categories and employees Enter a production that is an average of all billable time This production will apply to all sub categories and members within each sub category This global production 96 can be overridden at the category level and overridden at the member level to be more specific Employee Production Hierarchy Note After entering your top most level production 6 create your categories first Subc
17. Equipment Category Add een Ea eroe ce Equipment 4 Click on Equipment Folder V FOE B Equipment Anesthesia meon Z Anesth nesthesia 7 Blood Click on Add 7 Blood Dental Dental 7 General y 4 General Radiology F Radiology Surgical Surgical Ultrasound Ultrasound General Maint Oper supply 15 1 gt ROI 15 Type in Name Maint Oper supply 15 Press Tab ROI 15 Equipment Replacement Cost per Use RCPU Normally when a piece of equipment fails the owner must come up with money to pay for a new machine In Profit Solver your clients will pay for the new machine Each client is charged their fair share of the equipment used on the job or service based on usage per year and life span of the equipment This revenue should be set aside in an Equipment account to purchase new equipment Entering New equipment e Click on the Equipment category you wish to add new equipment under e Click on Add in the Equipment Name Panel e Inthe Edit Equipment Detail panel box enter the O O O O Equipment Name press Tab Key Purchase Price press Tab Key Life Span press Tab Key The units panel describes how the equipment will be used you can specify anything times minutes hours etc press Tab Key Enter the number of times the unit will be used during the year press Tab Key e Adding Operating Supplies O O O O Click on the E
18. Profit amp Loss Employees Name Year Contract Pay Total Benefits Total Taxes Total Yearly Cost Per Minute Cost Per Minute Charge B Doctors Tech Cathy 29 328 4 175 2 503 74 36 221 739 0 321 2 466 D D Assistants 3 Kennel 3 Management 3 Front Office profitsolver Equipment List Report You can print out the equipment by category or all together To print out all equipment at once click on the equipment folder top most folder Then click on menu bar File Print To print out by category at once click on any Category folder Then click on menu bar File Print Equipment List Inv OS List Services List Profit amp Equipment List Equipment Name Replacement Maint Supply Yearly Yearly Total n Cost Use Cost Use Equipment ROI Maint Supply Profit Charge Use Anesthesia Z Blood a ania 27 08 4 50 21 67 3 60 34 74 Dental Anesthesia Equi quip 0 03 0 02 27 82 20 00 0 06 General ISO large Radiology te 0 02 0 02 17 32 20 00 0 04 7 Surgical Anesthesia Equip Z Ultrasound ISO Wall Unit 0 04 0 02 36 00 20 00 0 07 Anesthesia Equip SEVO 0 07 0 03 40 00 20 00 0 11 Anesthetic Ventilator 0 70 0 00 27 82 0 00 0 77 Auri Ear Flush 1 17 2 53 8 75 19 00 4 07 Auto Clave 2 98 0 55 62 05 11 40 3 88 Automatic Processor 1 58 142 66 67 60 00 3 29 Settings Employees Equipment v O es List Equipment List Inv OS Lis ervices Lisi Profit amp Loss
19. Supply Profit 115 05 General Anesthetic Ventilator Total Charge Use 0 11 Radiology ISO Machine Purchase Price 2 782 00 4 Surgical SEVO Machine Life Span 10 00 7 Ultrasound Units Min Units Used per Year 10 900 00 Equipment ROI 96 15 00 Maint Oper Profit 96 15 00 Maintenance Anesthesia Maint Oper supply 15 ROI 15 Operating Supplies 0 00 Enter Equipment Maint and Supply SLES 260 00 Oxygen 307 00 Supplies 200 00 In Profit Solver you can apply a markup to these supplies A Maintenance and Supply markup can be specified to make a yearly return If you specify a 10 return on Maintenance and Supply yearly costs S500 the profit for the year received would equal 50 00 profitsolver If each client is charged 5 cents 50 1000 uses at the end of the year you would be reimbursed 50 The total service cost per use for the equipment to charge the customer is the Replacement Cost 1 00 ROI 0 10 the Maint Supp 0 50 markup 0 05 1 65 Employees Equipment Inventory Services Equipment Category Equipment Equipment Details c ENDE EDCA lype to search Q Name SO Machine Equipment 4 1 717 Replacement Cost Use 0 03 i Anesthesia Anesthesia Equip ISO small Maint Supply Cost Use 0 07 Blood Anesthesia Equip ISO large Yearly Equipment ROI 41 73 Z Dental Anesthesia Equip ISO Wall Unit Fa Anesthesia Equip SEVO Yearly Maint Supply Profit 115 05
20. Unit 22 40 Antibiotics Injectables Bartonella z Charge per Unit 25 76 Bandages Splints Casts Bile Acid Test Rotors Consumables CBC Lasercyte Purchase Price 22 40 amp Chem 10 z Ty Lab Tests In House Chem 12 E Unit Type Panel misc Units Purchase 100 B Outside Services Chem 17 w T4 Markup 96 A 15 00 amp Sedat IT i Chemistry Panel ives Tranquilizers TEM CPL Snap Test Vaccines Culture Sensitivity Plate Foro Early Renal Disease Urine Stock EC8 iSTAT Feline Leukemia Test FELV FIV Test FELV FIV HW Test Fluorscein Dye Test Code Lab Tests In House Markup 15 Example Inventory item cost 12 50 you get 25 units 12 50 25 0 50 per unit A straight line markup can be applied to inventory If applying a 100 markup type in 100 in the markup field The charge per unit will reflect the markup Ex If inventory cost is 10 and you apply a 100 markup the sell price is 20 00 Inherit refers to a global markup that can be applied all inventory The default markup is set to 0 A global markup can be set by highlighting the equipment category and applying a global markup in the category calculation panel Each subcategory may have its own markup A value entered into a subcategory will override the top most level default A value entered at the member level will override the category level In this way you can apply a global markup to your entire inventory override that markup for any specific c
21. of a business services where you know the exact profit and loss in each fee Profit Solver ensures that the fees chosen are fair to the client fair to the employees and fair to the owner This is accomplished by adding each piece of equipment each item of inventory and appropriate personnel into individual profit centers whose costs are fairly allocated to customers based upon each customer s usage While other software packages account for individual costs Profit Solver is unique in that it allows the user to set a desired profit Using that input parameter Profit Solver calculates appropriate mark ups for all profit centers Profit Solver takes the guess work out of pricing and creates confidence in achieving and sustaining the bottom line Profit Solver is designed to service a wide array of business owners or consultants It is equally powerful when applied to a veterinary hospital with 50 employees or a small accounting firm Just enter data through the friendly and easy to navigate screens and Profit Solver does the rest Set a profit and see how to set fees Set another profit and compare prescribed prices Profit Solver builds a flexible robust and accurate model for a service owner not trained in the intricacies of accounting but wanting a reliable outcome Many businesses have achieved significant growth in profits due to this software and we wish the same for you We have received countless testimonials of companies that have discovere
22. off the ultimate diagnostic software for your business Employees Equipment Inventory Services Menu Tabs Employee Category Employee Names Employee Details Member Calculation sms Panel 4 Name Dr John Employees 4 14 ix Total Wages 75 000 00 Total Employee Cost 88 681 20 amp Assistants Total Benefits 7 700 00 Per Minute Cost 0 79 amp Doctors Total Taxes 5 981 20 Desired Charge Min 3 80 amp Front Office amp Kennel Wages Employer Taxes Year Weeks 52 SUTA Cutoff 13 500 00 amp Management Y Names Panel Week Hours 40 SUTA 96 1 80 amp Technicians Production 96 50 00 FUTA Cutoff 7 000 00 FUTA 96 0 01 Category Panel gory Pay Amount 75 000 00 Pay Period Salary Medicare VAT 1 45 SS Cutoff 100 000 00 Yearly Bonus 0 00 SS 96 6 20 Doctors Yr Overtime hrs 0 Category Production 50 Avg Labor Rate 3 80 Leech Units Minutes PTO Weeks 5 Benefits Edit items Category Calculation ia Panel n Member Detail Area 750 00 Education 2 000 00 Detail Input for Insurance 750 00 Medical Dental Each Member 2 400 00 Pension 1 100 00 Workers Comp 700 00 The workspace consists of 8 areas The Menu Bar At the very top left Data Entry Reports and Help e The Menu Tabs At the very top left Employees Equipment Inventory Services access the 4 modules Employees Equipment Inventory and Services these tabs will change to report Tabs when viewing reports e Th
23. print out by category at once click on any Category folder Then click on menu bar File Print Settings Employ Employees List Equipment List Inv Services List B Services Anesthesia 9 Bath Grooming Boarding 9 Dental 9 Euthanasia b Examinations Hospitalization 9 Lab in House 9 misc otc f Prof Services Clinical Settings Employees Equipment Name Code Abcess Surgery Abdominal Abdominal Exploratory Abdominocentesis Drain Abdominocentesis Tap ACL Repair Canine Large ACL Repair Canine Medium ACL Repair K9 small Feline After Hours Care Amputation Declaw Mature Amputation Digit Employees List Equipment List Total Charge Current Price 199 48 0 00 189 87 0 00 431 06 0 00 48 30 0 00 43 14 0 00 1 536 04 0 00 1 470 30 0 00 1 383 60 0 00 17 84 0 00 128 01 0 00 182 50 0 00 Services List Prof Services List B Services anesthesia f Bath Grooming 9 Boarding 9 Dental Euthanasia f Examinations b Hospitalization 9 Lab in House Misc f orc 9 Prof Services Clinical 9 Prof Services Hospital A Radininnw Cardinlnnv Name Code Abdominocentesis Drain Abdominocentesis Tap Anal Gland Expression Anal Gland Treatment Artificial Insemination Bandage App Major Bandage App Minor Bandage App Robert Jones Bandage App Standard Bandage Feline Robert Jones Beak Trim Blood Pressure Initial Blood Pressure Re Check Total Charge Curren
24. productivity or hand on time percentage to billable employees to calculate an average labor rate for each classification of employee Return on Investment ROI A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments ROI equals the gain from an investment minus the cost of the investment divided but the cost of the investment Rule of 72 A rule stating that in order to find the number of years required to double your money at a given investment rate you divide the compound return into 72 The result is the approximate number of years that it takes an investment to double For example if a practice has a profitability of 14 it would take approximately 72 14 5 years for an investor who purchased your company to double his money In Profit Solvers the default profit level is set to 1596 so as to achieve an acceptable ROI for the practice owner Soft Time This is a Zalta ism It refers to the time spent by a billable employee that is not directly financially productive such as calling to answer a client s question on the phone dealing with staff issues fixing a leaky faucet etc profitsolver Overview We begin at the end so that you will understand the goal Like any program it is important to begin by entering accurate and complete information Profit Solver uses that information to generate a profit cost area analysis The example shown bel
25. 0 00 Total Charge Use 2 20 Purchase Price 10 000 00 Life Span 10 00 Units Use Units Used per Year 1 000 00 Equipment ROI 96 1000 Maint Oper Profit 96 10 00 Maintenance Insurance 500 00 Operating Supplies Supplies Edit items 500 00 In accounting a return on investment is based on what profit revenue you would make in a year If you put 10 000 in the bank and you get 1096 interest revenue on your money you will receive 1000 in interest You will have received a 10 return on your investment Return on Investment ROI By charging for equipment within your fee structure the return on investment in Profit Solver must be seen in several aspects Equipment is allowed depreciation recorded expense end result tax consequence and in the above example you do not get depreciation on the money that is deposited in the bank In Profit Solver equipment is a profit center revenue is received by charging the client a fee based on equipment used in their service Equipment replacement revenue is received dictated by the lifespan and usage In the above equipment example a 10 000 10 year lifespan 1000 uses equates to 1000 coming in revenue per year A report can be generated to tell you exactly what you charged for the equipment and what to set aside for replacement revenue In addition to the replacement revenue in the equipment profit center in Profit Solver you can make a return on the equipment as an
26. 00 0 52 0 00 Scavenger System 114 00 152 57 83 60 55 10 8 36 5 51 Glucometer 100 00 132 26 19 05 101 19 1 90 10 12 Stethescope 204 00 6 47 5 88 0 00 0 59 0 00 Microscope 2 431 00 808 09 606 80 127 83 60 68 12 78 Centrifuge 578 00 313 93 140 89 144 50 14 09 14 45 ISO Machine 3 420 00 360 74 87 29 240 66 8 73 24 07 Dental Unit 204 00 1 438 46 1 176 92 130 77 117 69 13 08 Dental Tube Table 204 00 128 23 116 57 0 00 11 66 0 00 X Ray Processor Unit 497 00 3 469 78 2 447 35 707 00 244 73 70 70 BP Pulse Oximeter 114 00 128 95 114 00 3 23 11 40 0 32 Blood Analyser 267 00 1 426 54 742 83 554 03 74 28 55 40 ey ceva T0 7 18 Inventory OS Outside Services Report When you input how many times each service was invoiced out Profit Solver will calculate the total inventory markup and average markup percent The Part ID Stock and Code are 3 new fields added to Profit Solver Cloud 5 0 to allow more ways to identify and sort inventory All reports can be sorted by fields by clicking on the Field Name you want to sort by Settings Emp Equipment Inv En Equipment List Inv Inv OS Period Revenue Period Cost Period Profit Mean Profit 183 130 33 92 202 98 90 927 35 98 62 Name Total Period Quantity Period Revenue Period Cost Period Profit Mean Profit Part ID Stock Code Ace Promazine 45 60 19 41 9 70 9 70 100 00 Telazole 57 00 315 32 157 66 157 66 100 00 Radiograph Film 14x17
27. 10 Antibiotics Injectables 1 oz Yorer Bottle Charge per Unit 0 11 Bandages Splints Casts 12 cc Syringe Consumables 3 Way Stopcock Purchase Price 9 60 TTE 3cc Syringe wineedle as Ci E EIS ab Tests In House Scc Syringe Copy nit Type Unit Misc Alcohol Units Purchase 100 00 Outside Services Ambu Bag Markup 96 A 15 00 Betadine Solution Blood Collection Bottles Sedatives Tranquilizers Vaccines Bulb Syringe ini Catheter Butterfly Stock CBC Fluid Pack Code Chem Strip 9 Chlorhexidine Soultion Cleaning Supplies Dip Quick Stain id Consumables Markup 96 15 IX Services Overview Services The Services Module is where everything fits together to create your individualized fees Every service or job performed is detailed out as to 1 Who performs the task 2 What equipment is used 3 What inventory is used 4 The exact profit or loss in each fee Revenue for the business is brought in by labor equipment and inventory Labor is charged out to cover non billable and overhead Equipment revenue should be viewed as additional profit to be set aside to purchase new equipment and replace existing equipment Inventory OS revenue will offset inventory costs and outside services The markup placed on inventory is calculated as a straight line markup The profit or loss in each of the three areas Labor Equipment and Inventory can be adjusted to reflect the price you ch
28. 3 SNAPSHOT Employee Input Data Areas 1 Equipment Category Panel 2 Equipment Category Defaults Panel 3 Equipment Names Panel 4 Equipment Detail Panel a Calculation Area b Input Data Area Equipment Details Equipment Detail Panel Save ance Name Centrifuge Replacement Cost Use 0 24 Maint Supply Cost Use Calc 0 25 Yearly Equipment ROI Area 17 55 Yearly Maint Supply Profit 18 00 Total Charge Use 0 57 Purchase Price 585 00 Life Span 5 00 Units Use Units Used per Year 480 00 Equipment ROI 96 E 15 00 Maint Oper Profit 96 15 00 Maintenance Input Data Area Operating Supplies ar PCV Centrifuge Tubes 0 00 120 00 VII Equipment Overview Equipment Profit Center In Profit Solver part of the price charged includes equipment turning each piece of equipment into a profit center There are 4 revenue components within the equipment profit center Equipment Profit Sie Replacement Charge Revenue Maintenance amp Supply Revenue Return on Investment Revenue Maintenance amp Supply Profit Revenue To Add an Equipment Category e Click on the top most category folder called Equipment in the category panel e Click on the new button to create equipment categories e Type in a name for the new category in the category calculation panel Note you cannot create sub categories with a category that has members Create your categories 1 Equipment Catego x TP gory
29. 627 66 72 20 Expenses Payroll Overhead Profit Sal Emp Payroll Taxes Health Ins Off Life Ins Profit Sharing Education Travel Uniforms All Other Net Income 1 740 134 07 127 186 82 85 268 98 7 590 52 47 813 80 9 366 68 3 356 58 398 10 2 021 115 55 49 11 760 686 73 18 4896 189 825 38 4 61 Depreciation 261 611 66 Rent 116 940 02 True Profit 189 825 38 6 of Sales 246 940 02 Owner Owns Bldg Increase Expenses Act 130 000 00 Rent 116 940 02 3 Annual doctor production total gross revenue per doctor During the initial consultation with Profit Solver we review the actual profit of the hospital the value of the doctor versus his production so we can put their value as a vet into the program This is extremely important in order to accurately reflect the actual operating profit prior to starting the rest of the process 4 Practice Profile This is a written overview of the type of business and the services performed Frequently Asked Questions about filling out these documents Our doctors are on productivity how do represent this In salary amount put the total that you paid out last year to the employee refer to your W 2 What do I do for worker s compensation amounts Take the total amount for everyone and divide by the total number of billable employees only and enter for each billable employee under benefits have employees who ro
30. Doctors 5 00 Minutes z 16 15 17 85 9 51 Remove Technicians 150 Minutes v 2 20 243 954 Re Equipment Y 4 212 gt Exact Profit or Loss p in Fee Clippers 0 50 use 0 16 0 18 9 51 9 51 Remove Microscope 1 00 Use 0 30 0 33 9 51 9 51 Remove Inventory T 4 1 515 Dip Quick Stain 100 Unit 0 86 0 94 9 51 Gauze Scrub 1 00 Unit 0 20 0 22 951 Microscope cover eee sides 1 00 Unit 0 05 0 06 951 Remove eee eens 4 00 Unit 0 10 0 11 951 Remove Fee Syringe Needle 1 00 Unit 0 15 0 16 9 51 Remove Service type to search Q type to filter Y When subservice is used within a service the profit level of the subservice does not change when using the AutoCalc button For any service to show one profit level for the entire service the subservice must be broken out into labor equipment and inventory in the above reference areas Understanding Sub Services and calculations Entering Equipment into a service There are 2 ways to add Equipment to a service or Click the add button next to the Equipment reference A reference selector box will open up Click the Equipment category the piece is in Click on the Equipment piece you want to add to the service Click the add button bottom left corner 1 Choose Item f Equipment ipe to fier Y I Anesthesia ish 25 60 re Auri Ear Flush Auto Clave Automatic Processor 7 General Biopsy Needle I Z Radiology Cage 7 De
31. Is it best to implement the software on one clinic or each separately It depends if both clinics are in the same demographic area or if they have entirely different cost structures or specialties or if one is particularly profitable and other not so If they are similar would say you could group them together especially if you are charging the same fees and have a combined income statement In case you have big variances between the two would advise you to do both clinics separately know I am supposed to use the last 12 months income statement but my accounting information is produced mid year What should do If possible try and print the last consecutive 12 months and provide payroll information for that period If you need further help please call us Please use the instructional videos on line as resources also am concerned about the protecting the Confidentiality of my financial information Fee Technology respects the privacy all your practice s information and we at the very beginning will issue you a Confidentiality Agreement stating we will only use your information for the implementation of Profit Solver and to better your business Please see the attached sample on the following page Sample Confidentiality Agreement Fee Technology Inc Confidentiality Agreement This agreement between Fee Technology Inc located at 3616 E 70 St Tulsa OK 74136 and Your Company located in Anytown USA will keep confidenti
32. Technicians Week Hours 40 SUTA 1 80 Production A 50 00 FUTA Cutoff 7 000 00 FUTA 96 0 01 Pay Amount 75 000 00 Pay Period Salary z Medicare VAT 1 45 SS Cutoff 100 000 00 Yearly Bonus 0 00 SS 6 20 Doctors Yr Overtime hrs 0 Category Production 96 50 Yr Overti Avg Labor Rate 3 80 roeren Units Minutes PTO Weeks 5 cents Dues 750 00 Education 2 000 00 Insurance 750 00 Medical Dental 2 400 00 Pension 1 100 00 Workers Comp 700 00 profit olver The P amp L page The P amp L page allows each company to define their current income statement and set a desired profit in labor This opening screen can be found and modified at any time click on the menu tab P amp L while working in the program All expenses can be separated into 4 categories COGS Inventory and Outside Services things you track Billable Employees Non Billable Employees Overhead The Billable employees are charged out to cover themselves their share of the non billable employees front office mgmt their share of overhead and their share of profit e Redefine your income statement to break out Billable and Non Billable labor Billable and non billable labor costs include wages benefits and employer taxes e Seta desired profit and the system will calculate how to charge out your billable employees profitsolver 4 1_Smal Animal 2012 erttatoss Reports ep admin admin Log of the ultimate diagnostic software for your business
33. User Manual 5 0 for Vetennanans profitsolver the ultimate diagnostic software for your business Profit Solver User s Guide Table of Contents Introduction 4 You can use Profit Solver to 5 Glossary of Terms 6 Overview 8 Understanding Labor and Profit 9 How Long Does the Process Take 11 Getting Started 12 Maximize Your Results over 24 Months 15 Benefits of Being on the Cloud 17 Things You Will Need to Get Started 18 FAQ s About Documents 20 Confidentiality Agreement 23 Client Information Input Forms 24 Common Services List Form 25 Inventory Purchase Price Form 27 Practice Profile Form 29 Navigating the Workspace 32 Password Protection 34 Employees entering data 35 Profit and Loss statement page 43 Equipment entering data 44 Inventory entering data 54 Services entering data 59 Move Feature 75 Continued on next page Table of Contents cont Reports Employee Report Equipment Report Inventory Outside Services Report Services Report Employee List Report Equipment List Report Inventory Outside Services List Report Services List Report Profit and Loss Report Printing Importing data Search features Notes and addenda 76 77 78 79 80 81 82 83 84 85 86 87 l Introduction Profit Solver is an innovative and powerful software program designed to establish profitable pricing for any service business Easy to use Profit Solver calculates fees for the full range
34. akeup of each fee by determining the profit or loss reports can be generated based on those results Services Data Entry Page profitsolver f remove Import j B Services Anesthesia Bath Grooming 9 Boarding Category Dental Panel Euthanasi Examinations Hospitalization injections 59 Lab in House Misc 9 OTC Lab in House Category Defaults Panel gt Service Names 1 351520 Chem 17 CPL Snap Test Culture Sensitivity EC8 iSTAT ERD A Fecal Float I Fecal Smear Fecal Smear and Stain FELV FIV HW Test FELV FIV Test FELV Test GHP General Health Profile Heartworm Test K9 4DX PAGL Panel Parvovirus Test PCV TP Names Panel Input Data Area Services Input Data Areas 1 Service Category Panel Service Category Defaults Panel Service Names Panel Service Detail Panel a Calculation Area b Input Data Area Employees Equipment Inventory Sub Services m Service details Service Detail Panel Name Fecal Float Totals 14 45 Service Code Employees 13 70 Period Deaete 0 Equipment 0 35 Inventory 0 40 Services 0 00 Calc Current Price 0 00 Area BIE Total 12 30 Price Difference LEE Employees Add T h 21 2 Doctors 0 20 Minutes x 0 65 0 76 A 1500
35. al all information listed below Fee Technology will only have the right to access your confidential data on the Cloud while in the process of guiding your company in future consultations and implementations Information shall mean all income statements reports employee information equipment inventory fees and frequency of fees concerning the company Fee Technology agrees that the information provided by the company will be used solely for the purpose of evaluating implementing and instructing the company in using Profit Solver Fee Technology Inc or its associates will not communicate information to any third party not bound by this agreement While information provided Fee Technology is thought to be accurate Fee Technology makes no such representation or warranty Fee Technology may use the end results listed below using only the company initials but may not use the name of the company without express written permission End Results are Total missing profit profit we are trying to find Profit Found Realistic Profit that can be added to the bottom line in the first year and return on investment Fee Technology reserves the right to use aggregate results without revealing the source for our own marketing purposes Dan Zalta President Fee Technology 3616 E 70 st Tulsa OK 74136 Tel 866 810 6609 January xx 2012 Client Information Input Forms Common services list 2011 Please fill in this list of high freque
36. annual doctor production and the practice profile The only task the practice must do in the program itself is to enter employee annual wages and benefits to match the 12 month period of income statement under review We also provide the practice with a few forms where they enter how often they performed specific key services and price charged We also require the purchase price of the inventory that is used to in these services as well as some general background information about the practice Fee Technology verifies all financial information production and labor rates and then prepares a data file for you on the cloud This is the file we will work in during the consultation The consultation is an initial 2 hour process during which time Fee Technology and the practice review their key services and tailor the program according to protocol At the end of 2 hours the practice is able to identify which non competitive services are priced correctly and which ones need adjustment They also recognize the loss the competitive services present the practice but the practice will now know which services offset this loss We recommend the practice does not change their competitive pricing At the end of the consultation the practice prints out a report with the specific services to be adjusted and their codes This information is then simply input into their current software system Ill Getting Started The process leading to implementation of Profi
37. arge Sub services Any service that has been created can be rolled into another service Once you create a service you do not have to recreate it every time you want to use it No retyping is necessary just add the service in the sub service area The AutoCalc buttons will not adjust the profits in the subservice area The Services Module can be completely tailored and there is no limit on the number of services that can be entered in each category The Objective You start Profit Solver by stating what profit you wish to achieve in each of the 3 profit centers That profit is now the basis to compare your current fees to When entering your current fee Profit Solver will calculate the difference between what you should be charging at the desired profit levels and what you currently charge The AutoCalc will then dial up or down the profit in each of the profit centers to match your price If you have shopped or competitive fee s and you intentionally lower the price to be competitive show Profit Solver where the loss comes from by dialing down the profit in labor and if used equipment and inventory If on the other hand you have guessed right on your fee and it is above your projected desired profit fee show Profit Solver where the extra profit gets attached to by adjusting the profit up in labor and if used equipment and inventory In this way you will know the exact profit or loss on each fee you charge Once you tell Profit Solver the m
38. asts 1 oz Yorer Bottle 4 51 9 01 Consumables 3cc Syringe w needle 0 10 0 19 fiij Lab Tests In House 3 Way Stopcock 0 85 1 70 misc 6cc Syringe 0 07 0 14 Outside Services Acarexx 7 44 14 88 a Sedatives Tranquilizers nee ERIS 021 3053 Ace Promazine 10 mg 0 13 0 26 Ace Promazine 25 mg 0 22 0 44 Ace Promazine 5 mg 0 20 0 40 ACL Repair L 1 000 00 1 150 00 ACL Repair M 909 00 1 045 35 ACL Repair S 818 00 940 70 Equipment Equipment List Profit amp Loss Inv OS List B Inventory Name Cost Per Unit Charge Per Unit Part ID Stock Code a Antibiotics Injectables Bile Acid Test Rotors 16 50 33 00 Bandages Splints Casts Chemistry Panel 14 00 28 00 consumables Culture Sensitivity Plate 4 29 8 57 a Lab Tests In House Early Renal Disease Urine 12 55 25 10 misc Feline Leukemia FIV Test 15 00 30 00 Outside Services Feline Leukemia Test 6 70 13 40 sedatives I Tranquilizers Eiuoscem Dye Test 322 3044 Giardia Snap Test 7 50 15 00 Glucose Strips 0 23 0 46 Heartworm 3DX 11 40 22 80 Heartworm 4DX 13 00 26 00 Heartworm Fe Antigen 8 47 16 93 Heartworm RT 8 20 16 40 Organ Profile Rotors 18 42 36 83 Organ Profile Slides 49 00 98 00 Parvo Test 13 00 26 00 Services List Report You can print out the Inv OS by each category or all together To print out all Inv OS at once click on the Inv folder top most folder Then click on menu bar File Print profitsolver To
39. ategories cannot be added to categories that already have members Employee Category E e Employees Assistants amp Doctors li Front office Add Categories 1st amp Kennel y Management Enter you categories 1 M Technicians Category Production 96 50 Avg Labor Rate 0 00 4 Em lo ee Folder Units Minutes p y Top Level Production You can override the top most Production 96 at the category level Highlight the category input a new value in the Category Production 96 Employee Category Lasa ype fo search A Employees amp Assistants amp Doctors Front office Assistants Kennel Category Production 40 lt Category Folder amp Management Avg Labor Rate 1 22 Production amp Technicians Units Minutes Technicians Category Production 96 45 Category Folder Avg Labor Rate 172 k Units Mios Production inherit the value from the top most level unless they override Both the member and the category wil that value To place a production for a specific employee highlight the employee and enter a production in the production field in the member detail area This employee production will override the category and the default global production Wages Year Weeks 52 Week Hours 40 dcs Employee Production oe soon Employee Production 96 Pay Period Hourly Overrides category Year
40. ategory and then override for any specific member Both the member and the category will inherit the value from the top most level unless they override that value An up arrow indicates that the value is being inherited Once the inherited value has been over ridden at the member or the category level to get back to the inherited state delete the value placed in the inherited value and press enter Inventory Category dm G Inventory Antibiotics Injectables Bandages Splints Casts El Consumables Lab Tests In House misc Outside Services Sedatives Tranquilizers Vaccines Inventory Category pr ofitsolver EXTREZZI B Inventory Antibiotics Injectables Bandages Splints Casts Consumables 4 Click on Category Lab Tests In House Misc Outside Services Sedatives Tranquilizers Vaccines Consumables Markup 96 15 Inventory folder holds f global markup Inventory Details Leze Name Chem 17 Cost per Unit 22 40 Charge per Unit 25 76 Purchase Price 22 40 Unit Type Panel Units Purchase 1 00 Click on Member to override category Part ID amp global markup Markup A 15 00 Stock Code To view or change existing Inventory Click on the Inventory module In the Categories Panel double click on the appropriate Category In the Members Panel double click on the Inventory member Enter Name of Inventory item Sel
41. c areas so he comes back every 3 months to review showing money to the bottom line each time We set a goal with the practice for the profit they wish to attain and set a timetable to achieve it At the end of the consultation e they know exactly which fees to tweak to achieve their goal e which services to leave alone e It shows them the loss incurred by offering low prices for shopped services necessary to keep the clinic competitive but most importantly it will show you specifically which services offset the shopped ones e Profit Solver shows where and by how much but the practice owner makes the decisions After consultation Using the program the client does a printout of the services worked on they put in the service code for the service then enter it into their current management software system In looking at the practice profitability our focus is not purely to identify accurate and fair pricing but to remedy the business side of the practice The program also highlights imbalances in the clinics costs and labor ratios By knowing costs we are able examine different clinic protocol which might also improve profitability In addition Profit Solver enables the practice to do various what if scenarios to also discover how to improve bottom line performance It is very important that Profit Solver is updated annually with the most recent financial data from the last 12 months This will guarantee the practice gets the b
42. category or all together To print out all employees at once click on the Employee folder top most folder Then click on menu bar File Print To print out by category at once click on any Category folder Then click on menu bar File Print KE amp Small Animal 2011 Fee Technology Inc Profit Solver 4 1 mm File Members Help Profit amp Loss Data Entry Reports settings Settings Employees Equipment Inv OS Services Employees List Equipment List Inv OS List Services List Profit amp Loss Name Year Contract Pay Total Benefits Total Taxes Total Yearly Cost Per Minute Cost 3 Doctors Asst Jane 18 720 2 175 1 592 228 22 802 228 0 202 D Technicians Dr John 75 000 7 700 5 981 2 88 681 2 0 786 Kennel Amy 14 976 417 1 404 664 16 584 834 0 147 Assistants Manager Lacy 45 760 899 42 3 759 64 50 619 06 0 422 D Kennel Office Front Sar 30 160 1 700 2 550 94 34 410 94 0 305 D Management Tech Cathy 29 328 4 175 2 503 74 36 221 739 0 321 3 Front Office E amp Small Animal 2011 Fee Technology Inc Profit Solver 4 1 Em File Members Help Profit amp Loss Data Entry Reports Settings Settings Employees Equipment Inv OS Services Employees List Equipment List Inv OS List Services List
43. d profit sources Users also report to us that Profit Solver enhances the employees team spirit Because pricing is directly based upon the employees salaries and overhead costs they feel protective of the fees and by extension the profit Effectively they become business partners invested in the success of your enterprise Profit Solver 5 0 is the latest version which will be released in December 2011 It is now a totally cloud based system easily accessible through any internet connection from your home or office thus providing secure and unlimited access 24 7 with the assurance that despite any computer malfunctions at your end the data is always secure and readily available We encourage you to send us feedback both on the results you achieve and on any improvements that you d like to see in upcoming releases We are committed to making Profit Solver the most comprehensive and reliable product in the industry You can use Profit Solver to e Know the exact profit or loss in every fee you charge e Understand how to offset your competitive prices e Input different desired profits and know what prices to charge e Input different employees salaries and know what prices to charge e Input different employee production hours and know what prices to charge e Input a different overhead level and know what prices to charge e See where you have guessed right or wrong on prices based on desired profit e Base your fees on your cost struct
44. dit Button Click in the Add button Type in the Name ofthe Supply Item Annual Cost of the Supply Item Click on Save button to add additional supplies e Deleting Operating Supplies O O O O Click on the Edit Button Click on the appropriate Cost Item Click on the Remove Button Click on Save e Adding Maintenance O O O O Click on the Edit Button Click in the Add button Type in the Name ofthe Maintenance Item Annual Cost of the Maintenance Item Click on Save button to add additional maintenance costs 1 Deleting a Maintenance Item e Click on the Edit Button e Click on the appropriate Cost Item e Click on the Remove Button e Click on Save The Yearly Totals Maintenance and Supply costs Replacement Cost and Total Service Cost will be automatically calculated by the program Example A 10 000 machine life span 10 yrs used 1000 times each year 10 000 10 year life span 1 000 cost per year 1 000 cost per year 1000 uses per year 1 per use If each client is charge 1 per use in one year you would receive 1 000 and after 10 years you would receive 10 000 After 10 years when the machine fails your clients have paid for a new machine 1 at a time Example A 10 000 machine life span 10 yrs used 1000 times each year Equipment Details Name equipment Replacement Cost Use 1 00 Maint Supply Cost Use 1 00 Yearly Equipment ROI 100 00 Yearly Maint Supply Profit 10
45. e Category Panel top left is designed to create and display a tree of categories and subcategories consisting of sub items within the active module e The Category Calculations Panel bottom left will display the category default values and average rates for selected category The Names Panel center to the right of the Category Panel consisting of sub items or names of the active category The Detail Input Panel which allows for the input and display of all data related to the active member The Detail Input panel consists of 2 parts a The Calculation Area top of panel displays calculations from the detail input panel b The Detail Input Area Panel below calculation panel data input area needed to calculate cost and profit Employee data is protected by giving users permissions When setting up a user you can give read only access or read and write access to the main input areas and corresponding reports The 5 main areas of access are Password Protection 1 P amp LPage P amp L Report 2 Employee Data Input Area Employee Report 3 Equipment Data Input Area Equipment Report 4 Inventory Data Input Area Inventory Report 5 Services Data Input Area Services Report Read Only Permissions Granted Write Permissions Granted Administrator Profit amp Loss _ Profit amp Loss Employee Employee Equipment Equipment Inventory Inventory services services The adminis
46. earch Likewise costs have been provided based upon this same research and additional data provided by users and vendors This information is for illustration use only and should not be construed as advice or directions for costs Each user of the software should modify the data to accurately reflect their equipment inventory and services Services as used in Profit Solver are composed of Employees Equipment Inventory and Sub Services Extreme caution should be used prior to deleting any items as any reference to them in other areas of the program will also be deleted Loss Leaders Profit Solver calculates a price for each service that is Fair to the Client Fair to the Staff and Fair to the Owner This price is based upon your costs and generates a fair profit In some cases however you may feel competitive pressure to price these services as loss leaders There are a few important things to note e Implementation of Profit Solver as with anything of significance requires discretion Loss Leaders is simply a term and may in fact refer to services performed at a reduced profit as well e n instances where you current fee is higher than that suggested by Profit Solver you may wish to maintain this fee as it will help to offset the Loss Leaders mentioned above Profit Solver is the key to solving many payroll stresses that businesses have Costs like healthcare worker comp and payroll all seem to increase Anoth
47. ect appropriate Unit Type Enter Purchase Price Enter Number of Units Enter Markup Markup 96 15 Category Markup Overrides Global Markup profitsolver Inserting an inventory item into several services Profit Solver will allow you to copy a piece of inventory into multiple services at the same time Select the piece of inventory you wish to insert into multiple services by right clicking on the piece of inventory and left clicking on Copy Reference Go select the services you can highlight multiple services you want to insert the piece of inventory in right click in the second column on one of the highlighted services for a menu and left click on Paste Reference To apply a quantity units go back to the piece of inventory you selected right click for a menu on that piece of inventory and left click on Apply Quantity A dialog box will appear for you to type in a number of units Type in number of units and the units will be applied to the services the piece of inventory was just copied into An additional feature that Profit Solver allows is the ability to match up an inventory item to a service name and insert the inventory item into the service This allows you to match an inventory item with a service and automatically insert the inventory item in the service Employees Equipment Inventory Services Inventory Category Inventory Inventory Details Name 3cc Syringe wineedle Inventory 4 351 Bn Cost per Unit 0
48. ectly modified Lease Payments on Equipment For any lease payments incurred during the year for equipment input the yearly total of the lease payments as the purchase price and set the life span to 1 Add any other costs into maintenance or supplies Equipment Details Name equipment Replacement Cost Use 10 00 Maint Supply Cost Use 2 00 Yearly Equipment ROI 250 00 Yearly Maint Supply Profit 50 00 Total Charge Use 13 20 Yearly Lease Purchase Price 2 500 00 Click on Add Payment ick on Life Span 1 00 Units Use Year Units Used per Year 250 00 Life Span Equipment ROI 96 10 00 Maint Oper Profit 96 10 00 Maintenance Edit items IMaintenence Agreement 250 00 Operating Supplies Supplies 250 00 To Save the Equipment data Click the save button at the top of the Employee Detail Area profitsolver Inserting a piece of equipment into multiple services Profit Solver will allow you to copy a piece of equipment into multiple services at the same time Select the piece of equipment you wish to insert into multiple services by right clicking on the piece of equipment and left clicking on Copy Go select the services you can highlight multiple services you want to insert the piece of equipment in right click in the second column on one of the highlighted services for a menu and left click on Paste To apply a quantity units go back to the piece of equipment you selected right click for a menu on that
49. ed software program Profit Solver is pleased to announce that effective December 2011 Profit Solver will become completely Cloud based First what this means is that Profit Solver will no longer be available as a cd based software program you buy and install on your office or home computer The software will only be available by internet access Profit Solver customers will receive an access code and password and will log in to their personal secure site and conduct their mathematical solutions to finding profit on that site There is an initial purchase and set up fee a cloud usage fee for 24 months and of course access and consultation with Profit Solver consultants There are many benefits to using Profit Solver on the Cloud Cloud computing is paid for incrementally over time thus reducing the initial out of pocket initial investment Cloud computing saves money by not having to purchase software installation time and costs hardware upgrades IT expenses etc Being on the cloud frees up your computer hard disk space and saves computer upgrade expenses By being on the cloud you can access your data file from anywhere at any time from your office from any workstation at your office at home during off hours on the road etc On the cloud means you can access your data file with any computing device since the software does not reside on your pc You can access with any device that has internet access
50. ee This total cost is then broken down into a cost per minute This cost per minute is the cost of the employee for each minute they are at work PTO paid time off like vacation holidays sick time etc reduces the amount of time an employee is billable One can only bill out an employee while they are at work Calculating Productivity Factor Production Time On the employee page enter the average number of billable hours in a time period for all employees Can you invoice that person out 4 hours out of 8 For each billable employee time is spent actually doing the work billable productive time and time may be spent preparing for the job non billable non productive time On any job or service non productive time for billable employees may include setting up the equipment picking up materials ordering and receiving inventory for that job staff meetings giving estimates talking to the client on the phone etc The productivity factor is a multiplier that adjusts the cost per billable minute for non billable time The closer your employees actual billable hours are to projected billable hours the closer you will be to achieving your desired profit In this way a productivity variance can be established to measure the difference between projected and actual productivity Example if you set productivity for an employee at 8096 128 hours out of a month of 160 hours and the employee actually bills 128 hours in the month
51. emera Anesthetic Ventilator Total Charge Use 50 11 Radiology ECN L urchase Price 7 Surgical SEVO Machine 3278200 Life Span 10 00 7 Ultrasound Units Min Units Used per Year 10 900 00 Equipment ROI 96 15 00 Maint Oper Profit 96 15 00 Maintenance Anesthesia Maint Oper supply 15 ROI 15 Operating Supplies 0 00 Isoflurane 260 00 Oxygen 307 00 Supplies 200 00 This will change how accountants look at some expenses Expenses are incurred costs Should expenses be recorded as a cost if you know you will get reimbursed for that cost Example Part of the above 500 was 125 for calibration 125 for insurance and 250 for O Rings The calibration insurance and supplies will be incurred sometime during the year All year long you are getting reimbursed for the calibration and supplies When the cost is incurred you have already received all or partial revenue to cover the expense Is this an expense or is the money received for calibration and supplies considered revenue with a contra account for the expense to attach to To view or change existing Equipment e Click on the equipment module In the Category Panel click on an Equipment Category e Inthe Members Panel click on the piece of Equipment e Entries in General Maintenance and Operating Supplies boxes can be modified as necessary e Yearly Totals Replacement Cost RCPU and Maintenance and Supply Costs and Total Service Cost are calculated fields and cannot be dir
52. emove the equipment from the service e M amp S Maintenance and Supply inherits profit percent from Equipment Module e Note The up arrow indicated that profit has inherited its value from the Equipment module The member will inherit the value from the top most level unless they override that value Once the inherited value has been over ridden at the member level to get back to the inherited state delete the value placed the profit and press the tab key Press the save button above the service name to save your editing Entering Inventory into a service There are 2 ways to add Inventory to a service e Click the add button next to the Inventory reference or e Areference selector box will open up e Click the Inventory category the Inventory item is in e Click on the Inventory item e Click the add button bottom left corner Choose Item B Inventory I a Antibiotics Injectables sh 25 e a amp Bandages Splints Casts esp Rotors fli Consumables CBC Lasercyte Gi Lab Tests In House Chem 10 misc Chem 12 Chem 17 outside Services Chem 17 w T4 a Sedatives Tranquilizers Chemistry Panel B vaccines CPL Snap Test Culture Sensitivity Plate Early Renal Disease Urine EC8 iSTAT Feline Leukemia Test FELV FIV Test Fluorscein Dye Test GHP Giardia Snap Test Glucose Strips Heartworm 3DX Heartworm 4DX Heartworm Fe Antigen Heartworm RT Organ Profile Rotors Organ Profile Slides Add Cancel e Type the 1
53. ent ROI 96 Maint Oper Profit 96 0 24 0 25 17 55 18 00 0 57 585 00 5 00 480 00 15 00 15 00 Maintenance Edit items Operating Supplies PCV Centrifuge Tubes Edit items 0 00 120 00 profitsolver Equipment Maintenance and Supply Revenue When equipment is purchased costs are associated with the equipment to keep it running Cost incurred would include calibration insurance maintenance parts and supplies etc If you didn t have the equipment you wouldn t incur these expenses These expenses relating to equipment are normally considered part of overhead expenses Each client is charged their fair share of the equipment maintenance and supplies used during the year based on yearly usage Example A 10 000 machine life span 10 yrs used 1000 times each year Maintenance and supplies for this equipment yearly cost 500 500 Maintenance and Supply yearly cost 1000 uses per year 0 50 If each client is charge 50 cents per use at the end of the year you would receive 500 This reimbursement of overhead will reduce your overhead expense Employees Equipment Inventory Services Equipment Category Equipment Equipment Details Name SO Machine Replacement Cost Use 0 03 Anesthesia Equip ISO small Maint Supply Cost Use 0 07 Anesthesia Equip ISO large Yearly Equipment ROI 41 73 7 Dental Anesthesia Equip ISO Wall Unit Anesthesia Equip SEVO Yearly Maint
54. er concern to most businesses is losing an employee to another business because of raises or benefits With Profit Solver increases in health care workers comp raises benefits and more flow thru to the client Profit Solver creates a direct link as to who performs the task and the price charged Employees realize it that it their time that sets the price By quantifying and justifying prices no apologies for fees are necessary e Employees In certain instances employees may spend time in non productive areas An example would be a manager A manager may divide their time between management duties and actual production When this is the case identify the 96 of time in management Apply this 96 to their salary and input that portion of salary into non billable time Input the other 96 of salary into the billable portion of the income statement Apply the same to the hours Example A manager is paid 40 000 of the time is spent in management of the time is spent as production time with actual productive billable time of 10 hours Create two employees for this manager Apply 20 000 in salary to the non billable employee and 20 000 in salary to the billable employee Week work hours would be set to 1 2 of 40 20 hours and billable hours would be the productive time spent within those work hours 10 out of 20 hours Production factor would be 10 20 or 5096 for the billable employee you set up for the managers
55. ervices items in the second column Moving is a drag and drop feature Simply click on what you want to move in the second column and drag it to another category In the first column Like in Windows you can move more than one item at a time There are two ways to highlight multiple items e Highlighting items in consecutive order Left click on the first item to highlight go to the last item in the range you want to highlight and Shift click on the last item This will highlight every item between your first click and the shift click Click Shift Click e Highlighting items in non consecutive order Left click on the first item to highlight go to the next item you want to highlight and control click on the next item You are able to control click on multiple different items and then move them all at once Click Control Click Control Click Control Click profitsolver Reports There are 10 reports 5 of which Employees Equipment Inventory Services and P amp L are based on some time frame in weeks In Profit Solver when you input a number in the period occurrence in a service that service will then appear on the report In whatever accounting or financial software your business is on produce a report based on a week month quarter year any number of weeks that shows what services you invoiced billed out and how many of these services were performed in that time period Once you click on a report the green title bar will cha
56. est information reflecting most accurately your current business trends Once we ensure the new financial data is input correctly we verify your information to ascertain your current actual operating profit level We then build and send the practice a new data file to review their key services and fee schedule with them again during a 2 hour phone consultation Top Tips to maximize your results from Profit Solver over 24 months Our experience shows that our clients who use this program on a very regular basis have not just good results but amazing ones The key element of this program is determining your pricing by reviewing as many services as you can to see which ones make money and which don t However below we have given you a sample calendar of the many different ways you can use Profit Solver as a powerful management tool throughout the year to improve profitability JANUARY 2 Review of 1 set key services 25 2 Involve staff team in understanding your evidence based pricing 2 Annual update of new financial information after first year FEBRUARY 2 Use Profit Solver to analyze cost and profit between equipment 2 Develop incentive scheme for doctor productivity MARCH 2 Review of 2 set key services 25 2 Analysis of breakeven and what to charge 2 Present to doctors the impact knock on effect of discounting 2 Determine which services to do more of APRIL 2 Review of 3 set key services 25 2 Know what money to set aside for ne
57. exam is fixed and the vaccine is variable tell us a range for the vaccine and we will show you the profit level for the examples in the range When you charge this this is your profit or loss when you charge that that is your profit or loss We always compare apples to apples Common Services List Practice Name profit olver Generic Service Name Your Service Name Frequency Current Sales Last 12 mths Price Office Exam Recheck Exam Wellness Exam Pre Op Sedation Gas Anesthetic ISO 30 min Gas Anesthetic SEVO 30 min General Health Profile Chem 17 Chem 10 Superchem CBC Pre Anesthetic Panel Blood Glucose Curve Single Test Fecal Float Urinalysis Collection amp Diagnosis Stain Cytology Ear Stain Cytology Fine Needle Aspirate FNA Thyroid Test Parvo Test Heartworm Test FELV FIV Skin Scrape Antec Idexx Fecal Antec Idexx Heartworm Antec Idexx UA Antec Idexx Superchem CBC Antec Idexx T4 Antec Idexx PreAnesthetic Radiology 2 Views Interpretation Radiology Digital 2 Views Interpretation Radiology Additional View Dispensing Fee profit olver Euthanasia Anal Gland Expression Ear Treatment Ear Clean Simple Nail Trim Canine Catheter I V Fluid Admin SQ Wound clean minor Hospitalization Level 1
58. fference ARE Employees Add Y 1 31 s Assistants 150 Minutes v 156 173 10 00 Remove Doctors 500 Minutes 16 15 17 95 10 00 FDN Technicians 150 Minutes 220 244 10 00 Remove Equipment Fjali 212 gt Type in any desired Clippers 0 50 use 0 16 0 18 10 00 10 00 44 Profit Level Microscope 1 00 Use 0 30 0 33 10 00 10 00 Remove Inventory T ah 5 s Dip Quick Stain 4 00 Unit 0 86 095 1000 Reg Gauze Scrub 1 00 Unit 0 20 0 22 10 00 Re venia ipods 1 00 Unit 0 05 0 06 1000 Remove vice 100 Unit 0 10 0 11 10 00 Remove Syringe Needle 1 00 Unit 0 15 0 17 10 00 Remove Service Y profitsolver Knowing the Exact Profit or Loss in each fee you charge The AutoCalc button will automatically adjust Labor profit Equipment M amp S and ROI and Inventory markups to all the same profit level After building the service put in what you charge and click the AutoCalc button The profit or loss will be displayed in each area AutoCalc Button served details Autocalculate Save N Total 24 00 Projected ame Stain Stn Cytology FNA otals 7 Service Code Employees 22 00 Charge using Period Desired Profit 0 Equipment 0 51 Occurrences Inventory 1 49 Services 0 00 Breakeven Current Price 2400 4 Current Fee BIE Total 2174 4 Charge Price Difference 300p Employees Y ah 313 gt Assistants 150 Minutes 1 56 172 9 51 Remove
59. ice use the category average labor rate that employee is in There are 2 ways to add an employee s labor or category average labor rate e Click the add button next to the employee reference e Areference selector box will open up e Click the category labor pool the employee is in e Click on the employee name or category name e Click the add button bottom left corner Choose Item Employees Y assistants M h 1 1k amp Doctors Dr John Front office Kennel amp Management amp Technicians Add Cancel or e Type the 1st character in the employee name or category name e Areference selector box will open up e Click the employee or the category name e The employee or category you click on will appear in the employee field e Click the add button by the employee name Service details Name service Totals 0 00 Service Code Employees 0 00 Period Occurrences 0 Equipment 0 00 Inventory 0 00 Services 0 00 Current Price 0 00 BIE Total 0 00 Price Difference 0 00 Employees j Add Y amp Asst Jane Assistants amp Dr John Doctors Equipment Bui Inventory Add Y Service Add Y Adding a Category Average Labor Rate When you have multiple employees in a category and you cannot specifically identify the employee working on the job or service use the category average labor rate When there is more than one employee in any category or labor pool an average labor rate
60. investment An Equipment ROI Return on Investment can be specified to make a yearly return over the life span or set to a yearly return Profit Solver s default is a yearly return based on the lifespan of the equipment If you specify a 1096 ROI you will receive 1096 of 10 000 or 1000 in profit revenue over the lifespan of 10 years and the profit per year received would equal 100 If you wish to receive the revenue of 1000 in a year and not over the life span simply multiply the ROI by the lifespan ROI 1096 x 10 year lifespan 100 Type in 100 for the ROI Equipment ROI 10 10 000 x 10 ROI 1 000 1 000 10 years 100 ROI 100 ROI 1000 uses per year 0 10 per use 10 000 x 10 ROI 1 000 Equipment ROI 11 000 11 000 10 years 1 100 cost per year 1 100 cost per year 1000 uses per year 1 10 per use If each client is charge 1 10 per use in one year you would receive 1 100 and after 10 years you would receive 11 000 the cost of the machine profit After 10 years when the machine fails your clients have paid for a new machine 1 at a time and you will have made a profit of 1096 per year If applying a 1096 Return on Investment type in 10 in the ROI The charge per unit will reflect the member calculation panel Inherit refers to a global profit markup that can be applied to the Return on Investment and to the profit applied to Maintenance and Supply M amp S items The default markup
61. ion 0 00 Insurance 0 00 Medical Dental 0 00 Pension 0 00 Workers Comp 0 00 Labor Rate profitsolver To Save the Employee data Click the save button at the top of the employee Detail Area Inserting an Employee to more than 1 service Profit Solver will allow you to copy an employee into multiple services at the same time Select the employee you wish to insert into multiple services by right clicking on the employee and left clicking on Copy Go select the services you can highlight multiple services you want to insert the employee in right click in the second column on one of the highlighted services for a menu and left click on Paste Reference To apply a quantity minutes go back to the employee you selected right click for a menu on that employee and left click on Apply Quantity A dialog box will appear for you to type in a number of minutes Type in number of minutes and the minutes will be applied to the services the employee was just copied into Employees Equipment Inventory Services Employee Category Employee Names Employee Details 3 Name Dr John Employees 4 1 1 1 Total Wages 75 000 00 Total Employee Cost 88 681 20 amp Assistants Total Benefits 7 700 00 Per Minute Cost 0 79 Total Taxes 5 981 20 Desired Charge Min 3 80 Doctors Copy Front Office Wages Employer Taxes Kennel A Management Year Weeks 52 SUTA Cutoff 13 500 00 A
62. k the add button by the Service name Inventory ch Y s Bronchicine Cae Chem 17 Bronchicine Cae 10ds Lense Paper e ier cae CET Chews Cats OSHA Dispos gj CET Chews Medium Fee A CET Chews Petite Syringe Nee a 8 Chem 10 M M Chem 12 ervice M Chem 17 A Chem 17 w T4 Chemistry Panel Chem Strip 9 Chlorhexidine Soultion mj Chlorpromazine 10 mg Vaccines Vaccines Misc Misc Misc Lab Tests In House Lab Tests In House Lab Tests In House Lab Tests In House Lab Tests In House Consumables Consumables Misc profitsolver Editing Service References e All editing is done in the reference area e Click the Remove reference at the end of the service to remove the subservice e Use the Add or type in name to enter a new sub service e Click on Quantity field Type in number of Uses based on Service e To Delete a Sub Service e Click the Remove reference at the end of the service to remove the subservice To Save editing click the save button above the name field profitsolver Move feature In Profit Solver when you create a new category you can now move items into that new category You are now able to put items in the order you want Example In the inventory module you may want to separate the vaccines into their own category Simply create a new vaccine category and move the vaccines into the new vaccine category The move feature applies to employees equipment inventory and s
63. lable employee their proportionate share of the non billable employee costs their share of overhead and profit for the practice Cost of Goods Sold COGS The direct costs attributable to the production of the goods sold by a company In the Profit Solvers program this amount include the cost of the goods used in providing veterinary medical care and outside services such as hiring a veterinary specialist All other labor costs are excluded If you track an expense via an invoice to a specific client it is included in COGS The cost of goods sold appears on the income statement and can be deducted from revenue to calculate Gross Margin Depreciation A method of allocating the cost of a tangible asset over its useful life Businesses depreciate long term assets for both tax and accounting purposes Gross Margin A company s total sales revenue minus COGS divided by the total sales revenue expressed as a percentage The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by the company PTO Short for personal time off In general total PTO for staff including vacation sick days holidays personal days are 4 weeks and since many hospitals offer continuing education time off for veterinarians their PTO is usually 5 weeks Productivity An economic measure of output per unit of input Profit Solvers assigns a
64. loyees receive a discount on work performed on their animals Yes No Financial When was the last time you adjusted your fees How often do you adjust your fees What method do you use to determine your fees Is discounting a problem in your clinic Yes No Do you do regular work for your local shelter or vaccine clinics at pet stores Yes No Are you in a demographic with low income high competition Do you know your current level of profitability Yes No If yes please state amount Has the economy hurt your practice this last year Yes No lfyes please explain Implementation Goals What is your goal in doing this implementation Please check all that apply o Toincrease your profitability o Youare satisfied with your profitability but want to determine if your services are priced correctly o To learn how to sustain your business in a weak economy o To gain better insight into the business side of your practice o Toidentify other areas of opportunity e g productivity staffing inventory etc o Other Please explain Profit Solver user If you are already a user of Profit Solver please answer have used it regularly this last year Yes No If not why not In which ways has Profit Solver benefitted your practice profitsolver V Navigating the Workspace When the program starts for the first time it will look like this profitsolver 4 1_Small Animal 2012 Data Enty Reports Help q Menu Bar admin admin Log
65. ls Inventory Detail Panel Name Chem 17 Inventory PEE J Cost per Unit Calc 22 40 Antibiotics Injectables Bartonella Charge per Unit Area 25 76 Bandages Splints Casts Bile Acid Test Rotors Consumables CBC Lasercyte Purchase Price 22 40 m Chem 10 P Lab Tests In House Chem 12 F an type Panel ME Misc Chem 17 Units Purchase ee cd 1 00 fi Outside Services Chem 17 w T4 j Markup 96 A 15 00 pn i Chemistry Panel Input Data Sedatives Tranquilizers CPL Snap Test Area Vaccines Cat egory Culture Sensitivity Plate Faro P 1 Early Renal Disease Urine Stock mee ane i EC8 iSTAT Code Feline Leukemia Test FELV FIV Test FELV FIV HW Test Fluorscein Dye Test Lab Tests In House Markup 15 Category Defaults Panel Inventory Input Data Areas 1 Inventory Category Panel 2 Inventory Category Defaults Panel 3 Inventory Names Panel 4 Inventory Detail Panel a Calculation Area b Input Data Area Names Panel Vill Inventory Overview Inventory In Profit Solver part of the price charged includes inventory markup used on the job or service Each inventory item is broken down to a per use or unit basis determined by the user and a markup applied Create categories to place inventory in by clicking on the inventory folder and then clicking on the add button above it Type in a name for the category in the category calculation panel and press the enter key Inventory Category Inven
66. ly Bonus 0 00 Overrides global Yr Overtime hrs 0 Yr Overtime 0 00 PTO Weeks 0 Once the inherited value has been overridden at the member or the category level to get back to the inherited state Click on the inherited value press the delete key to delete the current inherited value and press the tab key profitsolver To create a new employee Click the add button in the Employee Name area Click on the employee name in the Employee Name Area After clicking the employee name in the Employee Name Area the Employee Detail Screen will appear Employees Equipment Inventory Services Employee Category Employee Names Employee Details eaea genes Name employee B Employees 4 21 2 gt Total Wages 0 00 Total Employee Cost 0 00 Assistants Dr John Total Benefits 0 00 Per Minute Cost 0 00 amp pocos Total Taes Sooo DesiredChargeM sooo amp Front Office Wages Employer Taxes amp Kennel Year Weeks 52 SUTA Cutoff A 13 500 00 Management Technicians Week Hours 40 SUTA A 1 80 Production 96 A 50 00 FUTA Cutoff A 8 000 00 FUTA 96 A 0 01 Pay Amount 0 00 Pay Period Hourly Medicare VAT A 1 45 SS Cutoff A 100 000 00 Yearly Bonus 0 00 SS 96 A 6 20 Doctors Yr Overtime hrs 0 Category Production 96 gory 50 Yr Overtime 0 00 Avg Labor Rate 3 80 Units Minutes PTO Weeks 0 teens Dues 0 00 Education 0 00 Insurance 0 00 Medical Dental 0 00 Pension 0 00 Workers Comp
67. ncy services in the order itisin It is a very specific subset of your business and from this we adjust your productivity and plot out your profitability curve It will help us show how your prices form and create profit from the order it is in During your consultation we will initially review as many as we can on this list These services build the foundation for the rest of the services within the program for example ISO blood draw and injections need to be reviewed as they area core element that lead to other services In total you probably have 75 80 key services Please fill in the quantity of how many performed in the 12 month period and your current price If necessary rename the service in the second column ie fecal float intestinal parasite etc You may even add more services at the end but do not add many shopped services as it is preferable to review those services that can generate profit Remember this template cannot fit each clinic You can add to it in excel insert row you may have several iso s by weight If you have more than 1 type of nail trim or anal gland or any other services that are on our list you do more than 1 charge for add it to our list We wvill still have our list but it will be more complete You are still giving us what we want but adding to it Take the UA if you separate the collection from the lab we could use both numbers Then show us the collection and show us the lab If the vaccine
68. new salaries This is a projection of costs for this year After entering my payroll noticed the total panel calculated way higher than what paid out There may be several reasons why our numbers won t match The wages are a reflection of what they pay the employee including the employee portion of taxes You can enter an employee 2 ways either match up time and per hour OR put in salary and show the total out of pockets in wages for that employee You may have to play with hours per week to get close The wages may include deductions for healthcare and 401K which we identify in benefits The employer side of the taxes are a reflection of percentages and they may be to be adjusted per state but the basic is there Let us know if there is a variation greater than a couple of hundred dollars and we can adjust the rate The benefits will be part payroll and part overhead Usually health care 401K and pensions plans are deductions but we are only looking for the matching portion or the amount paid by the company Overhead will not be reflected in payroll information and may also indicate why the figures do not match up How do we decide the productivity rate of our doctors and why do we need it This is one of the initial aspects that we will deal with and help you with during your consultation This is one of the criteria that helps us determine what his labor rate should be Based on sales we can estimate his production and then his estimated
69. nge to reflect the reports for easy access going from one report to another All reports can be sorted by fields by clicking on the Field Name you want to sort by Reports Help Settings Employees F Settings Employees Equipment Inv OS Services Employees List Equipment List Inv OS List Services List Profit amp Loss Equipment Inv OS Services Employee List Equipment List Inventory List Services List Profit amp Loss On the menu tab clicks on Reports and the setting tab within reports to set the time period your frequencies are based on Settings Employees Equipment Inv OS Services Employees List Equipment List Inv OS List Services List Profit amp Loss Settings Report Time Period 4 00 Weeks per Year in Operation 52 Clear Frequencies To clear all frequencies to generate reports based on another time period click on the clear frequency button Clear warning This will reset Period Occurrences on all services to zero The operation cannot be undone Proceed Yes No profitsolver Employee Report When you input how many times each service was invoiced out for that time period Profit Solver will calculate the total number of minutes performed for what was invoiced out It will show the total number of minutes billed out for the employee or the employee category In essence indicating how productive the employee is All reports can be sorted by fields by clicking on the Field Name you want to so
70. nt for billable employees This ultimately determines profit Fortunately Profit Solver will do this for you By understanding your costs you can choose a profit which in turn will determine your labor charges Il Understanding Labor and Profit There are 3 main variables in labor that will allow you to set billable labor expense the employee total cost the production factor and profit Billable Labor In all service companies billing is based on services performed Billable employees that produce income for the company must be charged out correctly for their time not only to cover their costs but also to cover other costs and produce profit The question has always been how to charge for labor In Profit Solver labor is quantified for each of these billable employees based on production All income producing employees are separated into corresponding labor categories based on their employment positions e g supervisor technician assistants creating labor pools Each employee has their own labor rate and the category labor pool has an average labor rate The pool rate becomes important when one of several employees who have differing labor rates perform the same task and are not tracked to specific jobs A total cost for each billable employee is shown broken down by their wages benefits and other costs including the employer portion of their taxes This total cost represents what comes out of the employer s pocket for that employ
71. ntal Cage Dryer Capnograph Cast Cutter Spreader CBC Lasercyte CBC Machine Centrifuge large Clippers Cold Laser Digital Scale Doppler Monitor Dremel Dryer EKG Machine Endoscope Esophageal Stethescope Fleece Freezer Glucometer 7 Surgical 7 Ultrasound Grady Infusion Pump Add Cancel Type the 1st character in the Equipment name A reference selector box will open up Click on the Equipment name The Equipment name you click on will appear in the Equipment field Click the add button by the Equipment name Equipment mil ada Y 4 1 2 2 P i Microscope General Blood Analyse A Microtemp Circulating Blanket Microtemp Circulating Pump Inventory Surgical Pack Minor Surgical it PE gt Z Warming system General General Chem 17 1 UU rariel 2240 929 70 15 00 Remove Lense Paper Kim Wipes OSHA Disposal Fee 100 Unit 0 01 0 01 A 1500 Remove 100 Unit 0 10 0 12 A 15 00 Remove Syringe Needle 100 Unit 0 15 0 17 A 15 00 Remove Service Y General A 15 00 Remov Centrifuge A 15 00 Remov profitsolver oO Editing Equipment References e All editing is done in the reference area e Click on Quantity field Type in number of Uses based on Units e Units will displays what was input for that equipment e ROI Return on Investment inherits profit percent from Equipment Module e Click the Remove reference at the end of the equipment item to r
72. on is a profit center Each billable person s total cost is a percent of the total billable labor cost Overhead indirect labor and profit get allocated based on that person s percent of the total billable labor cost In Profit Solver profit will set and control the billable labor By setting the billable labor percent you are setting the billable labor associated in every dollar charged out as labor Profit Solver will let you control the amount of profit or loss in each fee By setting the profit you wish to achieve the billable labor 96 will be set by the program Different criteria affect how long the process takes from input to implementation As a general guideline you should count on approx 5 8 hours to gather and submit the information to Fee Technology You should generally count on a two week period from the start or process to completion of the 2 hour consultation We have done this in less time for clients who made this a priority How long does the process take What does the process involve exactly Once you sign up you will have a Customer Service Representative assigned to you They will ensure you get the passwords needed to access the cloud and also set up a 50 minute session to explain the program and how to prepare They will work with you through this process right up to scheduling your date of consultation and ensuring your follow up afterwards The 4 key files we initially need are payroll information income statement
73. operating profit prior to starting the rest of the process Phase 2 While Fee Technology or consultant builds your new data file the practice completes the forms we provide them with 1 Common top services list 2 Inventory purchase price How to send the information The psft2 file you send to us as an email attachment The other forms can be either scanned and emailed or faxed to 918 743 8881 profitsolver Profit Solver implementation Fee Technology will analyze how to impact to practice bottom line by reviewing as many services as can be done in the initial 2 hour implementation Our focus during this time is to have the maximum impact on practice cash flow and profitability by showing the practice where to make a few specific changes in the right places that are fair and generally invisible to the client unlike across the board increases Fee Technology does this directly with the client with their data screen in front of them Obviously the more services that are done the better the results achieved for the practice We recommend a practice reviews their top 70 80 key services to get premium results What we don t accomplish with the client during the session the client can either work on their services themselves OR they book Fee Technology by the hour to finish the key services Consultant could choose simply to present the results with all key services done together OR Consultant can choose whether to focus on specifi
74. ost Per minute cost what the employee cost is to you per minute they are at work The Desired Charge minute is the per minute value labor rate charged out in billable labor for this employee based on the profit entered in the Company Global page the production 96 and the cost of the employee The Average Labor Rate minute located in the category calculation panel is the average labor rate charged out in billable labor for the category category It is the average of all employee labor rates in the Employees Equipment Inventory Services Employee Category Employee Names n Employees a 212 gt Assistants erm amp Doas amp Front Office 8 Kennel management Technicians Doctors Category Production 50 Avg Labor Rate 3 80 Units Minutes Category Avg Labor Rate 2011 ProfitSolver All rights reserved 1 0 0 23 SNAPSHOT Employee Details Calculation Area A Name employee Total Wages 0 00 Total Employee Cost 0 00 Total Benefits 0 00 Per Minute Cost 0 00 Total Taxes 0 00 Desired Charge Min 0 00 Wages Employer Taxes Year Weeks 52 SUTA Cutoff A 13 500 00 Week Hours 40 SUTA A 1 80 Production 96 A 50 00 FUTA Cutoff A 8 000 00 FUTA 96 A 0 01 Pay Amount 0 00 Pay Period Hourly Medicare VAT 96 A 145 SS Cutoff A 100 000 00 Yearly Bonus 0 00 SS A 6 20 Yr Overtime hrs 0 Yr Overtime 0 00 PTO Weeks 0 Benefits Dues 0 00 Educat
75. ow is for a veterinary practice but any service business will have the same profit cost areas Employees Equipment Inventory and Service An overview of any service shows all billable employees any equipment and any inventory outside service used The labor charge below calculates a billable labor rate which covers all expenses associated with that employee all non billable employee expenses and overhead expenses the company incurs and the amount of profit or loss placed on labor The equipment shown is charged out to replace the equipment over time to get reimbursed expenses associated with overhead and to have a return on investment Profit Solver separates inventory from labor The inventory outside service is charged out to cover inventory costs plus a markup offsetting cost of goods purchased or the invoice charged from the outside service small Animal Clinic Fee Technology Inc Profit Solver 3 0 ni xj File Help Company Globals Data Entry Reports Settings Cost Areas Employees Equipment Inventory Services Categories Members Name X Ray 2 views Interp Name Radiology Cardiol Employee Total 83 55 Service Code Equipment Total 10 80 Current Price 102 25 Inventory Total 7 90 Subservice Total 0 00 Reporting
76. pay We then will take 52 weeks subtract his PTO from it to determine how much time he is available to be billed We will then multiply this amount of available time by his Productivity Rate to determine how much time we expect him to bill This way we can calculate his Labor Rate Should go ahead and enter the clinic P amp L on the Company Globals page Usually we do this for the clinic and return the data file to you that you will work in during the consultation If you do enter it we will review what has been done You still need to send us a detailed copy of last year s P amp L so that we can do a proper analysis of the practice After payroll should start to work on inventory and equipment according to the hi frequency services list sent to me Based on the hi frequency services on the list we sent you you could review inventory and write down your current purchase prices for inventory on the spot check list Be sure to send us the common services list with the name you call it how many times performed in the 12 month period and price charged For equipment you can verify what is used for those hi frequency services and note HOW MANY times used in your clinic on that service DON T edit inventory and equipment in the program UNTIL our implementation I tried to rename my psft 2 file but my file was empty how do I do this Be sure to always either rename or save as using the correct file ending psft2 have more than one clinic
77. per minute will be generated for the category You want the employees in this category to meet their billable hours in total for the category Example Group Assistants Two employees with productivity set to 5096 2080 hrs 20 hrs week Assistant 1 labor rate is 1 76 Assistant 2 labor rate is 1 84 Average labor rate for the group assistants is 1 80 1 76 1 84 2 When 40 hrs are achieved in Billable time at the average labor rate mathematically it is the same as each employee hitting their own hours 20 each at their own individual labor rate Using the average labor rate the goal is to hit the total number of hours in the labor pool not each employee hitting their own hours ex 1 empl 18 hrs 1 empl 22 hrs 40 hrs Editing References e All editing is done in the reference area e Click on Quantity field Type in number of minutes or hours it takes for the service for that employee e Click on Units field to use hours or minutes Default is set to minutes e The profit inherits the desired profit set in labor located on the Profit and Loss Tab The up arrow indicated that profit has inherited its value from the company global setting Once the inherited value has been overridden by typing in a new profit or using the AutoCalc to get back to the inherited state highlight the profit you want to change then on your keyboard press the delete key to delete the value placed the profit 6 and press then press the tab ke
78. piece of equipment and left click on Apply Quantity A dialog box will appear for you to type in a number of units Type in number of units and the units will be applied to the services the piece of equipment was just copied into Employees Equipment Inventory Services Equipment Category Equipment Equipment Details s Name CBC Lasercyte Equipment a 1 35 61 B Replacement Cost Use 1 65 4 Anesthesia Auri Ear Flush Maint Supply Cost Use 471 P E Blood Auto Clave Yearly Equipment ROI 160 61 Z Dental Automatic Processor p Biopsy Needle q Yearly Maint Supply Profit 458 85 General Cage TotalCharge Use 7 31 7 Radiology Cage Dryer Ea get Purchase Price 7 495 00 Surgical Capnograph d ZU Cast Cutter Spreader Life Span 7 00 z CBC Lasercyte Units Use CBC Machine Copy A Centrifuge Units Used per Year 650 00 Centrifuge large Equipment ROI A 15 00 Clippers Maint Oper Profit A 15 00 Cold Laser Digital Scale i Doppler Monitor g o Meiotoseece General Ins 100 00 Maint Oper supply 15 ROI 15 Parts 100 00 Operating Supplies Edit items Lasercyte Kits 2 019 00 Supplies 840 00 profitsolver Vill Inventory The Inventory Area profitsolver 4 1_smaii Animal 2012 oataeniy repons ep the ultimate diagnostic software for your business Employees Equipment Inventory Services Inventory Category Inventory Inventory Detai
79. rt by Settings Employees Equipment Inv OS Services Employees List Equipment List Inv OS List Services List Profit amp Loss Employees Name Total Period Quantity Total Billable Hours Period Hours Available Actual Production Percent Doctors 45 656 20 760 94 2 603 08 29 23 Technicians 200 113 00 3 335 22 4 874 89 68 42 Assistants 25 352 00 422 53 876 31 48 22 Kennel 32 240 00 537 33 1 482 95 36 23 j f f a Total Minutes Billed Total Hours Billed Paid Hours Production Equipment Report When you input how many times each service was invoiced out Profit Solver will calculate the total for Replacement cost Overhead reimbursed ROI and Maintenance and Supply Profit All reports can be sorted by fields by clicking on the Field Name you want to sort by Totals Employees Equipment Inv OS Services Employees List tquipment List Inv OS ist Senices Lisi Profit amp Loss Settings Equipment Period Revenue Period Replacement Cost Period M amp S Cost Period ROI Period M amp S Profit 13 526 45 9 931 27 2 365 50 993 13 236 55 Name Total Period Quantity Period Revenue Period Replacement Cost Period M amp S Cost Period ROI Period M amp S Profit Clippers 339 00 122 85 41 51 70 17 4 15 7 02 Refractormeter 311 00 16 04 14 58 0 00 1 46 0 00 Thermacare warming system 204 00 1 890 38 1 487 50 231 03 148 75 23 10 Cage 2 131 00 3 125 47 2 841 33 0 00 284 13 0 00 Nail Clippers 168 00 5 69 5 17 0
80. st character of the Inventory name e Areference selector box will open up e Click on the Inventory name e The Inventory name will appear in the Inventory field e Click the add button by the Inventory name Inventory ch Ed Y E Bronchicine Cae Chem 17 Bronchicine Cae 10ds Lense Paper amp nM 8 CET Chews Cats OSHA Dispos CET Chews Medium Fee n CET Chews Petite Syringe Nee Chem 10 Chem 12 Service i Chem 17 Chem 17 w T4 Chemistry Panel Vaccines Vaccines Misc Misc Misc Lab Tests In House Lab Tests In House Lab Tests In House Lab Tests In House Lab Tests In House 1 4 4 gt 5 00 5 00 5 00 5 00 profitsolver Editing Inventory References e All editing is done in the reference area e Click on Quantity field Type in quantity based on Units e Units will displays what was input for that equipment e Markup inherits profit percent from Inventory Module e Click the Remove reference at the end of the inventory item to remove the inventory from the service e Dial profit up or down to meet your fee e The up arrow indicates that the Markup has inherited its value from the Inventory Module The member will inherit the value from the top most level unless they override that value Once the inherited value has been over ridden at the member level to get back to the inherited state delete the value placed the profit 6 and press the tab key
81. t Price 48 30 0 00 43 14 0 00 19 03 19 00 32 57 0 00 100 28 0 00 39 68 0 00 15 19 0 00 39 05 0 00 39 65 0 00 31 00 0 00 18 34 0 00 25 14 0 00 13 62 0 00 profitsolver Profit and Loss Report Profit Solver s Patent separates labor from inventory and creates a new profit center for equipment The P amp L report will show you this breakout based on any time period This report will show based on a time frame whether you are covering your costs or not It records all revenue broken into each profit center against costs incurred entered on P amp L Settings Employees Equipment Inv OS Services Employees List Equipment List Inv OS List Services List Profit amp Loss Profit amp Loss P amp L Total Labor Profit Center Inv OS Profit Center Equipment Profit Center Total Revenue 932 264 69 735 607 92 183 130 33 13 526 45 COGS 104 499 75 92 202 98 12 296 77 Gross Margin 827 764 94 735 607 92 90 927 35 1 229 68 Billable Labor Cost 323 745 93 323 745 93 Non Billable Labor 117 153 54 117 153 54 Overhead 163 339 07 163 339 07 Profit 223 526 41 131 369 39 90 927 35 1 229 68 Profit 96 Total Revenue 23 98 14 09 975 0 13 Printing Reports through your Browser To print a Report Click on the report tab and click on the report you want to print Sort the report by clicking on the field you want to sort by Click on you browser menu Click on print To print landscape After clicking on your Browser Print
82. t Solver Initially Fee Technology the consultant require key information for input into the client s data file used at implementation First Call with client Initially we spend 45 minutes reviewing and familiarizing the client with the software so everyone is on the same page concerning objectives we look to achieve at the end of the 2 hour implementation At the end of this session we show them specifically how to input payroll and benefits into the program We then schedule a date to briefly oversee input and make any corrections if necessary We also send them by email the services inventory and profile form they need to fill in There are 2 phases we go through The 4 key initial pieces of information we need to get started are Phase 1 e Payroll file psft2 The ONLY input by the practice in the program itself is to input payroll costs for the last 12 months to correspond with the 12 months period of the income statement to be used e P amp L total sales and breakdown by expense for the last 12 months e Annual doctor production total gross revenue per doctor line summary only e Practice profile Fee Technology or consultant then reviews and analyzes this information We schedule a 10 minute call with the client During this phone call we discuss the actual profit of the hospital value of the doctor versus his production so we can put their value as a vet into the program This is extremely important in order to reflect actual
83. tate ie they are part billable and part non billable ie part doctor part management or part tech part front office How should show this Enter them as if they are two different employees in the relevant billable or non billable category and specify how many hours they work in each and pro rate their salary between the categories Our doctor is not on the payroll but he takes a draw how should show it Initially just put in the amount you paid out we will set up a 5 minute phone call with you later as to how this gets entered in order for us to assess what your ACTUAL operating profit is If the draw is less than a replacement doctor s salary base his pay off his productivity or value him out by entering an amount you would pay a replacement doctor to do the work If the draw is more than would be paid to a replacement doctor generating the same production this overage would probably be reclassified as profit Our doctor does not take a salary how should show it A labor rate needs to be calculated for this doctor and to do so you need to put in what you would pay a replacement doctor to do his work or base his pay off his production We will have a salary increase later in the year how do we represent this See attached Payroll input guidelines on how to do this Once you have entered in last year s info save as Clinic name2009 psft2 Then open last year s file click on save as and Clinic name 2010 psft2 and enter
84. then the employee has covered their total employee costs and has been expensed out to achieved the desired profit The default production factor is seen in the category calculation panel inherit and can be overwritten by the employee or category Ideally you want to input a different production factor for each employee because it will quantify production goals for that employee This is important The production 6 you set for this employee is a goal he she needs to hit accurately The closer you are to attaining projected hours to actual billable hours the closer you will be to achieving your desired profit A production variance defines the difference If you project 5096 as a productivity factor then the employee needs to be productive billable 20 hours out of 40 week or 80 hours out of 160 month When the employees have actual billed hours equal to projected hours they will have achieved your goal of covering their own labor costs their allocated portion of indirect cost and overhead and profitable goals will be achieved Profit Solver will calculate the production percent In order to calculate billable time you must know what you billed out in a certain time period In the services module you will enter the of times you performed this service within a certain time period Profit Solver will calculate the billable time associated with those services Understanding how to Set Profit in Labor In Profit Solver each billable pers
85. tory Category ER 1j Fer oor Inventory 4 Click on Inventory Folder B Inventory Antibiotics Injectables Tere A Antibiotics Injectables Bandages Splints Casts Click on Add Bandages Splints Casts a E Consumables Consumables Lab Tests In House Lab Tests In House Misc Misc Outside Services Outside Services Sedatives Tranquilizers Sedatives Tranquilizers Bl Vaccines Vaccines a Consumables Type in Name gt Markup 15 Markup 15 Press Tab Click on the category and then click on the new button under members to create a new member under that category To enter New Inventory e Click on the Inventory module e Inthe Categories Panel click on the appropriate category e Click on Add in the Name Panel e Enter Name of Inventory item in Inventory Detail Area name field e Enter Purchase Price e Type in appropriate Unit Type a Note Anything can be used to describe type each slide inch ml tube etc e Enter Number of Units you get for the purchase price e All calculations are automatically calculated To Delete Inventory e Click on the Inventory Module e Inthe Categories Panel double click on the appropriate category e nthe Members Panel double click the item to be deleted In the Member Selection Panel click on Remove Inventory Category Inventory Inventory Details z Name Chem 17 Inventory 1 35 mn Cost per
86. trator button is a toggle that will turn on and off the write permission for selected granted permission areas under Read Only Example You start by giving read only permission for the employee to enter the equipment area by checking the box for that area under read only To give write permission you must click on the administrator button to then activate the write permission for that area Each area you give permission to the employee can see and enter As additional security if you do not give permission to the employee for an area to read or write the employee cannot see the other areas in the program or to try to enter Profit Solver offers very secure protection of your data To help ensure that security we strongly recommend that your password has the following characteristics Your password should be 8 characters or more The password should include both upper and lower case letters The password should include numbers The password should include keyboard characters such as amp etc Here is an example PASSword1234 As extra security once the password is entered and accepted by saving the password field is blanked out Should you lose your password we are able to assign you a new password without having to know the previous password profitsolver VI Employees The Employee Area profitsolver 4 1_Small Animal 2012 DataEnty Reports Help admin admin Log off the ultimate diagnostic software for your business
87. ure e Lower your overhead e Make each piece of equipment into a profit center e Set fees your employees will understand Glossary of Terms Amortization The paying off of debt in regular installments over a period of time The deduction of capital expenses over a specific period of time usually over the asset s life More specifically this method measures the consumption of the value of intangible assets Bell Curve The most common type of distribution for a variable The highest point in the curve or the top of the bell represents the most probable event All possible occurrences are equally distributed around the most probable event which creates a downward sloping line on each side of the peak In Profit Solvers it is used as a profitability curve It illustrates where you value your services and where your profit within your practice is achieved The area under the bell within 1096 of the peak which is your current profitability helps pinpoint the services that are most commonly tweaked to generate increased profit Billable vs Non billable employees In a veterinary hospital billable employees include the veterinarians the veterinary technicians the assistants and the kennel employees The non billable employees are the receptionists office staff and office manager s The distinction is important because the Profit Solvers program calculates a labor rate for the billable employees that is used to cover the costs of the bil
88. w equipment 2Review Interchange costs within a service to make more profitable MAY 2Set goal to analyze 10 more services each month to know pricing gt Involve different staff members to review services so they understand 2 Analyze which material inventory items to get better discount on JUNE 2 Track productivity by labor category 2 New clinic opens in town review your shopped fees 2 Want to hire another staff member see how it affects fees JULY 2Analyze how any changes in overhead labor affect labor rates 2 Analyze if it is more cost effective to do services in house instead of outside services AUGUST 2 Week by week analysis of profit ongoing gt Do projections for salary increases see how it affects fees SEPTEMBER 2 Build new services and determine pricing 2 Look to review pricing within a service if you purchase new equipment OCTOBER gt Look at What If scenarios to improve profitability eg protocol who performs the service 2 Ensure that you are on target by reviewing your monthly goal of new services NOVEMBER 2 Look at What If scenarios to improve profitability eg number of services done 2 Review staff bonuses DECEMBER 2 Look at different bundle services to attract business analyze pricing 2Enter changes in payroll for new Annual update of information 2 Decide on training options for staff and include in payroll information Benefits of being on the Cloud Fee Technology inventor of the patent
89. w what services were performed as loss leaders and the total amount of loss to overcome and what services were used profitable to offset those losses When the Total Difference reaches 0 you have reached your desired profit The total period quantity will show all services performed The direct period occurrences will show which services were charged for all sub service charges are reflected in the service they are in The actual charge reflects your current price charged The ideal charge reflects the profit placed on labor inherited from the company globals page the profit placed on equipment set in the equipment module and the profit markup place on inventory in the inventory module The Actual Ideal will show how far off you are from achieving your desired profit The Total difference will multiply the period quantity frequency times the Actual Ideal Profit amp Loss Settings Emplo Equipment Inv OS Services oy s Equipment List Inv OS List Services Total Difference 113 546 79 land Code Total Period Direct Period Total Current Ideal Difference Total Quantity Occurrences Revenue Price Charge Difference Anal Gland Expression 501 00 501 00 9 534 76 19 00 19 03 0 03 15 76 Antec Fecal 207 00 207 00 4 526 62 21 00 21 87 0 87 179 62 Blood Chem Pre Surgical 267 00 267 00 23 121 64 80 00 86 60 6 60 1 761 64 sone Cue sunto 100 00 100 00 2 202 09 18 00 22 02 4 02 402 09
90. y e Click the Remove reference at the end of the Employee to remove the Employee reference from the service e You can manually dial profit up or down to meet your fee e Or you can use the AutoCalc e Press the save button above the service name to save your editing The AutoCalc Button vs Typing in a desired Profit vs The Inherited Profit Profit solver will project a fee to charge based on any profit level and conversely it will show you the exact profit level in each fee you charge The Inherited Profit Level When setting up Profit Solver you set future profit goals in each profit center labor equipment and inventory It uses this future profit level as a basis to compare your prices to in the services report Does the service detract from that profit level And if so by how much Oris it above that ideal profit level and if so by how much This allows the company to know where they are offsetting losses and by how much This future profit level is displayed by retrieving the inherited value from each profit center When creating a service the inherited value automatically is displayed when you add an employee equipment or inventory Profit Solver immediately projects a fee to charge based on your ideal profit level Projecting a fee at the ideal profit level Service details E Projected Name Stain Stn Cytology FNA Totals 25 52 Ideal Charge using Service Code Emplo
91. yees 23 42 I h d fi nherit rofi AUS 0 Equipment 0 54 e e P o t Occurrences Inventory 1 56 Services 0 00 Breakeven Current Price 0 00 B E Total 21 74 Ch arge Price 25 52 E Difference s Employees ES Y ah 313 Assistants 150 Minutes 1 56 1 83 A 15 00 Remove Doctors 5 00 Minutes v 16 15 19 00 A 1500 Technicians 150 Minutes v 2 20 2 59 A 15 00 Remove Equipment ES Y ah 212 0 Inherited profit show Clippers 0 50 use 0 16 0 19 A 15 00 A 15 00 a as an up triangle Microscope 1 00 Use 0 30 0 35 A 15 00 A 15 00 Remove Inventory EJ Y 1 515 Dip Quick Stain 1 000 Unit 0 86 0 99 A 1500 422 Gauze Scrub 1 00 Unit 0 20 0 23 A 15 00 Remove Microscope cover 0 05 0 06 R slides 100 Unit 0 05 0 06 A 15 00 Splat heey 100 Unit 0 10 0 12 A 1500 Re Fee Syringe Needle 100 Unit 0 15 0 17 A 1500 Service aad Y profitsolver Projecting a Fee at any profit level including Breakeven You can Project a fee at any Profit Level by typing in the profit level you want to see To see a Breakeven charge type in a O in all the profits for Labor Equipment and Inventory Service details EA umen Projected Name Stain Stn Cytology FNA Totals CERE Charge using Service Code Employees 22 12 Period Desired Profit 0 Equipment 0 51 Occurrences Inventory 1 50 Services 0 00 Breakeven Current Price 0 00 BIE Total 21 74 Charge Price Di

Veterinarians - ProfitSolver, set fees for any business

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