Annual Fees Survey

The MPV Annual Fees Survey is the most popular survey that MPV Consulting offers. Each year it is typical to have from 350 – 450 practices participating. As a participant you will enter your fees and charges for a variety of products and services.

Once these are collated each of your specific fees will be compared directly to industry averages and you will receive a report for each item that will compare your practice performance to industry averages and your sub-cultural profile groups.

What is the purpose of the survey?

The Annual MPV Fees Survey is offered to all veterinary practices and managers in Australia. It has been developed to assist veterinary practice managers in determining what fees they should charge for their professional and retail services. Industry standards are a recognised methodology of individual businesses determining where they stand amongst their peers. This survey is divided into a variety of fee items and six profile groups to represent the following:

  1. A broad cross section of typical fees charged by all major veterinary groups
  2. Profile groups that provide meaningful demographic comparisons to participants

MPV Consulting has attempted to include individual fees as well as complete procedural fees so that managers can compare their theoretical fees as well as their application in a practical situation. Once compiled, these crucial statistics are benchmarked against other practices that are of similar profile groups whilst still maintaining confidentiality of practice data.

Example of results

Example 1

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Example 2

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Benefits of participation

The beauty of a survey such as this is that there are many benefits on offer with no risk at all. It does beg the question ‘why would you not participate?’

Some of the benefits of participating are:

  1. Stimulates owners/managers to address their fees at least once per annum
  2. Will help you maximise profits
  3. Allows you to set fees in a more businesslike manner
  4. Identifies what value other veterinarians place on their services
  5. Will confirm your market position within the veterinary community
  6. Clearly identifies your pricing strengths and/or weaknesses
  7. Collective wisdom may be helpful in valuing your services
  8. You will most likely change fees in a positive direction when survey results are distributed

What information do I need to provide?

You will be required to complete worksheets with the fees that you charge for various products and services for your veterinary practice. These fees will be a broad selection of items that cover examples of all areas of fee charging and will include: commonly charged individual fee items, total go home cost for selected complete procedures, marks on a range of merchandising and medication items.

MPV Index of Common Fees

A recent new innovation for the MPV Annual Fees Survey is the introduction of the MPV Index of Common Fees. The purpose of the index is to allow participating practices to see how they have performed in the overall scheme of things. It operates in a similar manner to how we measure the All Ordinaries Index in the stock market. This will allow two main advantages:

  1. You will see from year to year how the fees have grown generally within the industry
  2. You will see how your practice index value has compared overall to the industry index

Using the survey as a catalyst to address fees

It is evident that the MPV Annual Fees Survey has become a catalyst for many participating practices to examine and adjust the fees that they are charging. Because it is a low cost option and it is done annually you may choose to use this fees survey as part of your regular management process in updating your fees. Of the practices that MPV Consulting has spoken to 100% of them changed at least some of their fees as the result of participating in the survey.

Small fee changes make bigger profit variations

Did you know that:

  1. The pricing of products and services is the only aspect of your business that will generate income
  2. When the pricing of any service is incorrect then the mistake will be duplicated repeatedly until such time as the fee is corrected.
  3. Because many costs in veterinary practice remain relatively fixed a small change in fees will result in a disproportionately higher level of change to profit. For example: if your practice operates on a 30% profit before vet salaries and wages then a 10% increase in fees will result in a 25% increase in profits (assuming all else remains the same)
  4. Conversely, if you under charge by only 10% then you will make 33.3% less when you put a days work into your practice.

It pays to get your fees right!

What valuable information will I receive?

Each participating practice will complete a profile that identifies the type of practice that they operate. Your practice will receive an accurate result based on comparison with other practices of similar profile. Comparison will be based on:

  1. All veterinarians
  2. State
  3. Practice type
  4. Regional location
  5. Size of veterinary practice
  6. Type of practice management software used

Results how you want them!

The results of these surveys are useful as a historical reference. It is for this reason that MPV Consulting has now made available the facility to email results as a pdf. This means that you will be able to store your results on your computer and refer back to these when ever you like.

Confidentiality

MPV Consulting recognises that both the integrity of MPV Consulting and the ongoing participation of veterinary practices are totally dependant on the maintenance of strict rules about data confidentiality.

All surveys performed by MPV Consulting come with an assurance of confidentiality for individual clinic data. Individual clinic data will only be viewed by MPV Consulting staff or persons directly associated in the actual physical act of data collation for survey results. No information of any individual clinic will be supplied to any source other than the specified contact for each clinic. Should any survey involve sponsors or supporters, this will not, and will never, include any form of access to any individual clinic information without written permission of that clinic.

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Current Surveys 2019

 
MPV YOUR Portal: is a FREE  private portal where practice owner & managers can access everything to do with their clinic PRIVATELY. This includes survey downloads, uploads, results (both current & historical) and much more. If your clinic does not currently have access to this private portal or you have lost it please contact MPV Consulting:
Email: rob@mpvconsulting.com.au
Phone: 07 3040 6227
 
 

 
 
Employee Hourly Rate Survey 2019
 
 A truly worthwhile survey!
 
This survey will open 1st March 2019

 
The MPV Employee Hourly Rate Survey is our second most popular survey. Our goal is to help YOU to understand what is fair and reasonable pay for your staff!
 
The reality is that the veterinary industry is reasonably small and there is significant communication between members of the profession. Your staff are probably more likely to talk about their pay situations to their colleagues than to you.The biggest advantage is that this survey allows you as an employer to know what the market is paying before you enter into negotiations with staff regarding their wages.
 
 "It would help my staff appraisals knowing what other practices pay their staff!" Could be you!

 
 
You can still participate - Contact Us
 

  
 
 
 
Fees Survey 2019
 
Our most popular and valuable survey!
 
This survey will open 1st April 2019
 
As one of our regular survey users said:
"I just don't understand why everyone does not participate in the Fees Survey, Fees are so crucial to practice performance. It is a no brainer!"
 
 

You can still participate - Contact Us
 


 
 
A prized supplement to the Fees Survey!
 
This arguably the GREATEST tool we have produced yet! You choose where in the industry you want to be positioned and MPV will supply you with the EXACT FEES TO CHARGE to achieve your goal. It make fee setting a breeze AND it is a much more professional approach that adds to profitability.
 
  

 

 
 
 
This survey will open 1st October2019
 
If you want to know what represents good profit, know what you as a partner or business owner should be earning, know where you are going right or wrong, then this is the survey for you! You will truly learn where you stand in the big picture along with the tools to identify where changes are required.
 
"In my opinion this is the most important and valuable survey we offer!"
Rob White (Director MPV Consulting)
 
  
 

 
 
(Available any time)
 
Need to find out what your veterinary practice is worth?
Maybe it is time to perform an MPV Practice Appraisal on your business!

Every practice should know what their practice is worth. If it is worth as much as you think then that is a good outcome. If it is not worth as much as you think then it is time to do something about it! How would you know unless you get an independent such as MPV Consulting to calculate the value for you.
 
 
Click here: To download Appraisal application form
 
Price update:  the MPV Self-Evaluation Appraisal price is $1750.00 inclusive of gst.