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Pfizer Leads The Charge In Evidence Based Consultancy

Author: Pfizer Animal Health
Posted: Monday 13th February, 2012. 17:58:10

The unique Evidence Based Consulting provided by Pfizer Animal Health’s Vet Support+ will come into its own in the current economic conditions as practices have to work even harder for their share of the consumer purse.

The reality for a veterinary practice is that there are only five ways to deliver growth:

1. providing better medical value;
2. improving the productivity of both people and assets;
3. increasing the client base;
4. cutting costs; and
5. raising prices.

The reality is that most practices opt first for the easier option of cutting costs and raising prices but this is only a short-term solution. In fact, by comparing a cost strategy to a value strategy in delivering practice growth, Vet Support+ can demonstrate that a growth strategy based on increasing value can outperform the cost based approach by a factor of ten over the lifetime of a pet. In simple terms, the cost based approach provides a one off hit, rather than creating long term revenue streams.

To help practices avoid the temptation of a quick fix solution, Pfizer Business Consultants use a number of Evidence Based Consulting tools to provide a 360° assessment of the practice and the actions that should be implemented to achieve growth.

Using Experian, the Pfizer Business Consultant can impact the effectiveness of a practice’s marketing by thoroughly assessing the catchment area. By looking at where and who clients are, the practice’s market share of the pet owning households in their area can be measured so that they can see where the growth opportunities lie. Once new clients have chosen the practice, Vet Support’s Improvet touch screens can be used to benchmark customer satisfaction enabling the practice to hone their client loyalty tactics. To date more than 10,000 pet owners have provided feedback via this method to create a national database of qualitative perceptions of customer service.

Pfizer’s Performance Index continues to provide an invaluable benchmark of a practice’s business operations and now that it has been merged with Central Vet Service’s Management Analysis Indices (MAI) to form a single national database, the information will be even more useful. Participants will benefit from the larger database providing greater accuracy, granularity and relevance and therefore a better understanding of both their critical success factors and where there are clear opportunities for growth.

Vet Support+’s inaugural Employee Engagement survey, which involved more than 4,000 respondents has produced a national benchmark of engagement levels within the veterinary industry, which can then be used as a bespoke offering for veterinary practices to measure themselves against.

Ned Flaxman, Director Business Innovation at Pfizer Animal Health comments: “The creation of a comprehensive infrastructure to support evidence based consultancy in practice has been a significant investment for Pfizer. In the current economic environment, there has never been a better time for practices to take a fresh look at their business and make sound business decisions for their future growth strategy based on clear benchmarks and data analysis – rather than historical best practice!”

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