[Important note: this article has been automatically translated from the original Italian language.]
It may seem strange to you to combine a concept as technological as the BI (Business Intelligence) to the world of veterinary medicine, yet AI (Artificial Intelligence) e ML (Machine Learning) have pervaded our work and communication tools to the extent that we can use them to Improve the economic performance of clinics And the way we care for patients.
The application of BI to epidemiological studies in veterinary public health is already an established reality.
Today we look at how to put it at the service of management through integration with good veterinary management software.
What is Business Intelligence
The Business Intelligence is an analytical tool that helps vets make the best strategic and managerial decisions.
Most of the analyses that common practice management systems (or PMSs) allow are descriptive analyses, that is, reports of something that has already happened and cannot be changed.
One example is revenue analysis: you can find out how much revenue is to date, but if you wanted to know what channels it comes from or how much revenue is generated by a particular service (or family of services), you would have to generate more reports and then try to put the pieces together on a third-party tool (Excel is the most commonly used).
BI creates connections and generates new meanings, allowing you to go beyond the sterile reading of a set of numbers.
What you can do with BI
What would you think of a tool that, in one screen, would allow you to link all of your clinic’s data (revenue, services, user types, care pathways), do really detailed analysis e give you the answers you’re looking for?
A tool for Business Intelligence allows you with ease to relate more information, uncover otherwise hidden meanings, identify new KPIS useful for make the best decisions for your clinic, for example:
- If I find that there is an increased incidence of a certain disease (e.g., filariasis) among my patients, I can promote certain screening, preventive prophylaxis, etc.
- or, I can find out which revenue is generated by direct patient requests (e.g., eye examinations for dogs) and which is generated by internal referrals (e.g., lab tests that are prescribed following a visit). As a result, I can decide Which units/performances are useful to promote externally (because they are spontaneously requested by patients) and which ones are not (because they are induced by other services).
Benefits of BI for veterinarians
Integrating BI among the tools available to the veterinary management, allows you to:
- Increasing turnover – By analyzing what you bill and in what type of operating unit (e.g., surgery, inpatient, analytical laboratory), you can find out the areas that are lacking, those that need to be developed better, or targeted more.
- Improve communication campaigns – By interweaving the profiling data of your clients and patients (e.g., age and race to see if you have a lot of brachycephalic puppies) with performance (e.g., no. of endoscopies or rhinoplasties performed), you can identify new areas of interest and act on those.
- Improve the services you offer – By knowing how your patient population is composed (age and race), the most frequent diseases, and average revenue per service, you can decide to offer new services (e.g., understanding which types of Health Plans to deliver).
- Optimizing web marketing costs – Where do your users come from? How do they move around the Internet? such as social media do they use? Where to intercept them and how to stimulate them?
- Cost control – whether related to performance delivered, vendor management, or process management, you can find out where waste is concentrated and what to do to increase return on investment (ROI).
- Develop new areas and strategies – for example, identify the most active employees who generate the most business not only for themselves but also for colleagues and then establish a strategy to engage other veterinarians and increase their loyalty to the clinic. the same goes for referrals from outside the clinic, to whom you can attribute value for the work they do.
All these activities can be very complicated if you do not have a veterinary management system that integrates BI.
Business intelligence integrated into management software
Adiuvet is the management software for veterinarians that integrates BI in an extremely simple way, without the need to recruit software engineers and data scientists, or to build some sophisticated IT structure within your clinic.
Whole management works in the cloud, freeing you from the burdens associated with IT management of the system.
The integrated BI tool (Qlik) allows you to Create endless relationships among your clinic’s data, as well as drawing on external sources (e.g., by locating a dog and feline registry database in your region, you could see all that data directly in your analysis tool). In addition, with their assistance, you have opportunities to learn how to use the instrument and master it to the fullest.
How Adiuvet BI Works
One of the most interesting functions is to link theTurnover Analysis to different entities/attributes through different areas:
- DASHBOARD – allows you to compare current turnover with previous turnover, turnover vs. budget, link it to services and items disbursed, coming to understand which type of service generates more turnover, based on which type of customer or animal.
if the turnover is often too different from the quote you need to check how the quote is presented to the client by that staff member, or if that staff member always enters quotes that are too high.
- CUSTOMER KPIS. – Analyze revenue generated from new vs. returning patients, by type of patient pathway (e.g., from emergency room, or from GP), by single registry, etc.
- BUSINESS SOURCES – where your revenue comes from in terms of referrals from outside the clinic, internal collaborators (prescribing physicians vs. dispensers), where the customer comes from, e.g., whether from another clinic, word of mouth, from the website.
- REVENUE MIX – Understand how turnover is composed in terms of benefits that generate other benefits (cross selling and up selling). For example, have you ever thought about how to transform the divestment of the drug into a more profitable business?
Did you know that a single reminder inside the management system can increase your turnover by 3%? If you remind your staff to book a follow-up visit directly, after a surgery, you will see an increase in this activity.
- BUSINESS SEGMENTATION – Segment your revenue by performance, registry type, clinical pathway type, specific campaigns.
- GEOBUSINESS – distribution of turnover by geographic area: you can find out which area most of your turnover comes from, where the largest number of patients are concentrated, average turnover by location, etc.
This can also be useful for marketing campaigns that want to intercept your high-spending customers (you’ve identified them to be right in that area…)
The most exciting aspect is that all these reports are not separated from each other: from any entry point you can deepen your analysis and create reports that were previously unimaginable.
So potentially you can get all the answers you need in an extremely intuitive way.
What do you need to use Business Intelligence in your clinic?
- A BI tool easy to integrate.
- A management system that allows you to collect clean, quality data: Adiuvet was born for this.
- A team collaborative and motivated (find the Adiuvet Method veterinary courses., to help you grow).
- Ports the right questions to find out how to improve your clinic’s operations.
The answers already exist, you just have to ask the right questions!