VTH Benchmarking VTH Benchmarking Project UpdateProject Update

James W. Lloyd, DVM, PhDJames W. Lloyd, DVM, PhDAssistant to the DeanAssistant to the Dean

Director, Office of Strategy and Director, Office of Strategy and InnovationInnovation

College of Veterinary MedicineCollege of Veterinary MedicineMichigan State UniversityMichigan State University

BackgroundBackground

VTH Business Model projectVTH Business Model project• NCVEI leadership – AVMA NCVEI leadership – AVMA

fundedfunded• Campus visits – pre and postCampus visits – pre and post

Interest in benchmarkingInterest in benchmarking• AAVMC – comparative dataAAVMC – comparative data• NAVCA – 2004, 2005NAVCA – 2004, 2005• AAVC – 2005, 2006AAVC – 2005, 2006

VTH Benchmarking Task ForceVTH Benchmarking Task Force

Mimi ArighiMimi Arighi Jim BrawleyJim Brawley Roger FinglandRoger Fingland Gary FoltzGary Foltz Ron HaffeyRon Haffey

John HavenJohn Haven David LeeDavid Lee Dennis Dennis

McCurninMcCurnin Cecil MooreCecil Moore Ralph Ralph

RichardsonRichardson

Coordinated by NCVEI: Howard Rubin, Jim Lloyd

Renee Knosby

Why Benchmark?Why Benchmark?

Enhance management of operationsEnhance management of operations

Internal comparisonsInternal comparisons• Identify performance trends over timeIdentify performance trends over time

External comparisonsExternal comparisons• Compare performance to similar Compare performance to similar

operationsoperations

Benchmarking ChallengesBenchmarking Challenges

Deciding what to measureDeciding what to measure• Establishing standard Establishing standard

definitionsdefinitions Who compiles the data?Who compiles the data?

• AAVMC comparative data AAVMC comparative data report?report?

Does everyone participate?Does everyone participate? Reporting frequency?Reporting frequency?

Suggested Starting Data PointsSuggested Starting Data Points

1.1. Gross revenueGross revenue2.2. Case loadCase load3.3. State supportState support4.4. FTE facultyFTE faculty5.5. House officersHouse officers6.6. FTE staffFTE staff7.7. Staff expenseStaff expense8.8. Direct costs (drugs, medical supplies)Direct costs (drugs, medical supplies)9.9. Accounts receivableAccounts receivable10.10. Staff turnoverStaff turnover

Key IssuesKey Issues

DefinitionsDefinitions Top line vs. by serviceTop line vs. by service Report content and Report content and

formatformat

Progress ReportProgress Report

Review by beta-testers Review by beta-testers completecomplete• Fall 2006Fall 2006

Programming currently Programming currently underwayunderway

Website up soon – Website up soon – ncvei.orgncvei.org• Data entry and reportingData entry and reporting

Plug-in 2005-06 dataPlug-in 2005-06 data• Final testingFinal testing• Establish baselineEstablish baseline

Final fine-tuning (if any)Final fine-tuning (if any)• Go live for 2006-07 dataGo live for 2006-07 data

Comparative data reportComparative data report• Develop consistency with Develop consistency with

NCVEI benchmarksNCVEI benchmarks

Next StepsNext Steps

Next Steps Next Steps (cont.)(cont.)

Customer service Customer service benchmarkingbenchmarking• Existing surveys collected – Existing surveys collected –

NAVCANAVCA• Task force assembledTask force assembled

Develop consensus on coreDevelop consensus on coreAlpha/beta testAlpha/beta testWebsite?Website?

Next Steps Next Steps (cont.)(cont.)

VTH Veterinary Management VTH Veterinary Management Group?Group?• Early discussions underwayEarly discussions underway

Successful private practice modelSuccessful private practice model• Use NCVEI benchmarks as a Use NCVEI benchmarks as a

starting pointstarting pointAdditional data?Additional data?Meetings/discussions (2x/year)Meetings/discussions (2x/year)

• Costs vs. benefitsCosts vs. benefits

Questions?Questions?