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Ep 07 – Understanding Your Numbers & Making Better Decisions with Paolo Lencioni

Episode Details

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On today’s show, I’m joined by data devotee and self-identified software nerd, Paolo Lencioni! Paolo is a bit of a unicorn, part veterinarian, former practice owner, part accountant, and more recently software developer. He built Neo PMS which was acquired by Idexx. He is also one of the directors of Valuvet, Australia’s leading valuation service for veterinary businesses.

But it’s his latest software venture, Profit Diagnostix, which forms the backdrop to this conversation. Profit Diagnostix is a service that provides member practices with weekly, automated data visualizations offering real-time feedback and bench-marking into team performance in veterinary clinics.

So join me in this conversation as we uncover the secret power of dashboards and data, and how you can use them to transform your practice.

Outline of this episode:

[04:52] Why is data collection so important?
[09:04] What are dashboards?
[11:19] Number of active clients: The first KPI clinicians should focus on
[12:47] What is an “active client”?
[16:14] What is a healthy number of active clients to have?
[19:20] Maintaining a good volume of clients while minimizing burnout
[29:20] Annual spend per client: The second KPI clinicians should focus on
[32:55] Measuring client-facing events: The third KPI clinicians should focus on
[37:05] Wages: The fourth KPI clinicians should focus on
[39:35] Average invoice value/transaction fee: The fifth KPI clinicians should focus on
[44:46] How Profitdiagnostix can help clinicians track these five KPIs while saving time

Resources Mentioned:

VetX: Leaders
Profitdiagnostix

Connect with Paolo Lencioni:

APL Accountants
Paolo Lencioni on LinkedIn

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